A discussion and analysis of Marx and Webers theories concerning the development of industrial capitalism
Summary :
Table of Contents
- Introduction
- Marx's theory of ?materialism'
- The theory of ?division of labor'
- Marx's early work ?Alienation'
- Marx's model of society as a ?base-superstructure' system
- Max Weber's point of view on capitalism
- Weber's sociological theories
- The process of rationalization, and the development of industrial capitalism
- Conclusion
Abstract
It is widely accepted that most of the developed countries in the world today are 'capitalist' economies. capitalism in economic terms is a free market system, involving little government intervention (a laissez-faire approach). capitalism involves investment in the means of production (capital) with the aim of creating profits. "The essence of capitalist exchange is to proceed from money to money by way of commodity and end up with more money than one had outset." (Aron as quoted in Haralambos and Holborn,1995, p34). In a capitalist society, the means of production, i.e. land and capital (tools, materials), are privately owned by one social group. The third factor of production, labor, is provided by another social group. The nature of the relationship between the two classes is the essence of the sociological study of capitalism. In our minds, capitalism is inextricably linked with mechanized mass production and huge corporations. capitalism is in many people's eyes embodied by modern corporations such as 'McDonalds'.
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