Essay Question: Is Marx or Weber more useful to analysing capitalism today?
Capitalism is “a system of economic enterprise based on market exchange” (Giddens, 2009). Almost all industrial societies today are capitalistic in nature since their economic structures are based on free enterprise and market competition. However, capitalism first became the dominant mode of production over two centuries ago in Western society. Over this period, there have been some major theorists who have attempted to analyse capitalism and among these theorists are Karl Marx and Max Weber. Notwithstanding the obvious differences between Marx and Weber’s approach to capitalism, particularly with regards to the content of their analyses, their appraisal of capitalism is attached to a critical position (Craib, 1997). Both Marx and Weber agreed on the uniqueness of capitalism as an economic system. A system where: relations of production were concentrated in the hands of a rather small sector of the population; labour was performed by the masses of workers selling their services on a market; efficiency became a priority through which rationality and technological advancement were applied over religious and traditional values; and the critical goal at the end of economic behaviour was unrestricted wealth acquisition i.e. maximum profit (Birnbaum, 1953). It could not simply be simply treated as just a new economic system but a revolutionary mode of production which involved a new type of society.
Karl Marx and Max Weber were influential sociologists that paved the way for modern sociological school of thought. Both, Karl Marx and Max Weber contributed a lot to the study and foundation of sociology. Without their contributions sociology would not be as prominent as it is today. From the contribution of how sociology should be studied, to how they applied their theories to everyday life has influenced many sociologists. Predominantly, both of these theorists’ discussed the effects of capitalism, how it has developed, shaped and changed society into what it is today. Specifically, Karl Marx’s contribution of the bourgeoisie vs. the proletariat class and Max Weber’s social stratification has helped individuals to understand how modern day society has transformed into what it is today. Particularly, this paper will lie out Weber’s theory of social stratification and Marx’s theory of the bourgeoisie vs. the proletariat class; additionally this essay will also compare and contrast the ideas of these two influential sociologists. Finally this essay will criticize both of these sociologists’ theories and display that Marx and Weber do not explain how modern day society and classes have been formed.
and subsequent reinvestment of capital, is an end that both Weber and Marx reach in their analyses of society and agree on in definition. However, while Marx tells us that phantoms of the brain i.e. morality, religion, ideology, cannot develop independently of material production or influence it, Weber argues that ideas and religion can indeed determine life and the processes of life, namely our material production. The key difference between the two is their scope of factors that can cause historical development. Marx only allows for one factor, productive forces and the economic conditions resulting from them; Weber, on the other hand, acknowledges that while ideology and religion can support the economic relations as a driving factor, they can also develop independently and become a factor, a force on its own that can alter production, economic conditions, and thus history. By accounting for the multiple ways in which a society can be altered, Weber provides a more complete and applicable understanding of historical development and the powerful concept that an idea from an individual or group of individuals can have a legitimate and significant effect on the direction of society.
Two names that are repeatedly mentioned in sociological theory are Karl Marx and Max Weber. In some ways these two intellectuals were similar in the way they looked at society. There are also some striking differences. In order to compare and contrast these two individuals it is necessary to look at each of their ideas. Then a comparison of their views can be illustrated followed by examples of how their perspectives differ from each other.
Karl Marx, in the Capital, developed his critique of capitalism by analyzing its characteristics and its development throughout history. The critique contains Marx’s most developed economic analysis and philosophical insight. Although it was written in 1850s, its values still serve an important purpose in the globalized world and maintains extremely relevant in the twenty-first century.
The 17th century was torn by witch-hunts and wars of religion and imperial conquest. Protestants and Catholics denounced each other as followers of Satan, and people could be imprisoned for attending the wrong church, or for not attending any.
Theorists began to recognize capitalism as pre-industrial society developed economically and major social changes began to occur. Modernization resulted in industrialization, urbanization and bureaucratization as the workplace shifted from the home to the factory, people moved from farms into cities where jobs were more readily available and large-scale formal organizations emerged. Classical theorists’ observations addressed numerous facets of social organization and interaction that came about as a result of modernization; however this essay will focus on their ideas regarding capitalism and the capitalistic society. Over
Capitalism started up as a system of investing and sharing money in order to increase the value of resources in the future. Capitalism was just an economic system, but then soon turned into a complex system of ethical practices. Harari defines capitalism as, “a set of teachings about how people should behave, educate their children and even think” (Harari 314). This economic system evolved along with the people that were endorsing it. Capitalism enables the rich to get richer, while the poor continue to get poorer. There are many benefits to capitalism, but there are downfalls as well, and these downfalls tend to be masked because of the rapid speed capitalists grow at. Harari first presents a definition for capitalism, and soon goes into great detail on why capitalism, while fast paced and unforgiving, is able to stand unwavered while other productions fail.
Capitalism is invariably acknowledged in the study of social science. Amongst the respective gathered ideals of the esteemed sociologists: Karl Marx, Friedrich Engels, and Max Weber include through discussion as to the origins of Capitalism, as well as the role and effects it plays upon civilized societies. Whereas Marx and Engels view of Capitalism fall within similar boundaries, Weber's opinion of the matter differs in regard to the formers in several ways. In similarity, both parties agree that history [or sets of historical change(s)] lead to the establishment of Capitalism within social groups of human beings. However it is in their assessment of the sources of impact on history, which begins the disparity between the two parties
By definition, Capitalism is an economic system controlled chiefly by individuals and private companies instead of by the government. In this system, individuals and companies own and direct most of the resources used to produce goods and services, including land and other natural resources labor, and “capital”. “Capital” includes factories and equipment and sometimes the money used in businesses (Friedman, 5).
Capitalism is a subject that can be considered deeply controversial. There are many who tout the benefits that capitalism provides to the economy and the progress of human society. There are others who decry that it is a system which promotes selfish motives and extols profits above honesty and genuine goodness. This essay will examine the claims of each and will reach to conclude the answer to the question “is capitalism good?”
In short, the methodology of Marx and Weber adopted to analysis the development of capitalist society is different. Both of them may share some similarity in the sense that they included economic condition as a factor, but the differ in the sense that Marx believe in 'historical materialism' and argue that class relation of production is the sole determinant of the society; Weber, on the opposite, reject Marx's idea of economic determinism and argued that the development of capitalist society is explain by combination of unique and contingent events, such as the religion reformation of catholic church to protestant church, also led to the change in people's economic orientation and thus the development of capitalist society. Such a division in methodology is important to our understanding of their different understanding of the theory of the stratification of 'class', an important concept in the understanding of capitalist society.
Both Karl Marx and Max Weber assert that capitalism is the dominion of abstractions and the irrational accumulation of abstract wealth for the sake of wealth. For Marx, the state of capitalism is entrenched in the social classes to which people have bben assigned. Capitalism, according to Marx, is a result of the bourgeoisie 's ascent to economic and political power. This fuels the manifestation of a system that exploits the labour power of the lower socioeconomic classes for the gain of the higher socioeconomic classes. Weber understands the state of capitalism to be the end product of the work ethic of the Protestant branches of Christianity and the secularization of Protestant puritanism, which helped fuel rationalism. Capitalism, according to Weber, is to be understood as the relations and methods of production and commodities, now rationalized. Ultimately, Marx ascribes the ascent of capitalism to the exploitation of people and power, while stressing that such a system can be overcome by a communist revolution, whereas Weber states that such a system is the result of cultural choices and is not as convinced that capitalism can be overcome.
In the opposite, Weber rejected the economic determinism of Marxism in the understanding of the stratification of the modern capitalist society. For Weber, the capitalist society is stratified in a two different ways from the Marxist description: On the one hand, the class differentiation is not classified merely by the ownership of means of production. According to Weber, class interest not as a given historical attribute to workers and capitalist, but is an ‘average interests’ of different individuals sharing similar market situation and ‘life chance’. Such ‘life chance’ is defined by the capacity of the individual to create utility and exchange value in the market by the utilization of their property. Therefore, class situation of the propertied is not merely defined by the ownership of means of production, but also returns on investment and rental income, which Marx doesn't take into account; for the class situation of the property-less, people is also fragmented by their differential possession of scarce skills, services and knowledge. Class interest is complex and fragmented.
Max Weber was one of the world's greatest sociologists and wrote a lot about the capitalist world he lived in. He had a different conception of capitalist society than most of his contemporaries. He looked at capitalism from all the different aspects that the philosophy was made of. Some of these aspects are state power, authority, class inequality, imperialism, and bureaucracy. To understand how Weber thought one must look at each area separately then put them all together in a global package.
To start of my essay I will compare and contrast between the two theories of Karl Marx and Max Weber on the topic of social class that will be discussed widely. The inequality between people is the basis of the democratic system, which is “a political system”. It is said that “those who have the skills and abilities to perform and produce will succeed in life.” But this belief is the assumption that all people are given equal opportunities and advantages. During the 19th century Karl Marx and Max Weber were two of the most influential sociologists who developed their own theories about why inequality is maintained with social class in society. Many might argue that there are many similarities and differences between these sociologists theories, however although Marx’s and Weber’s both examined similar ideas. This essay will compare the differences and similarities between Marx and Weber’s theories of class within society, which are based on economic inequality and capitalism. And lastly this essay will demonstrate that Max Weber comes across as the greater theorist as he can relate his concept more towards today’s society. Anthony Giddens (2nd edition) quoted that “You need greater equality to achieve more social mobility.” Therefore social class is referred to a group of people with similar levels of wealth, influences, behaviours and status. Henry Ward Beecher (1813-1887) American Politician states that the “ignorant classes are the dangerous classes.”