Capitalism and Socialism
Capitalism Socialism Social Institutions
The debate over Capitalism and Socialism is one of the most important debates in the modern era. It has caused countless wars and political movements, which still drives political debate today. However, both models arise from common shifts in the our society's dominant social institutions. Thesis: Capitalism was aided by the decline of religious institutions, replacing those institutions with economic institutions. However, economic institutions, though dominant, demonstrate the serious void in ethics and compassion left by the decline of religious institutions.
Key Tenets of Capitalism
Karl Marx, the icon of Socialist economic theory, believed that society evolved through a progression of discrete stages, where the level inequality and exploitation diminishes until the economic organization of the society makes exploitation unnecessary. (Singer, 10) This exploitation was considered by Marx to be rooted in the ownership of property and the means of production, which encouraged some individuals to accumulate as much property as possible in order to provide basic human needs such as food, shelter, and security. (Singer, 10) This accumulation necessarily comes at the expense of other individuals. (Singer, 10)
Marx theorized that society would undergo four stages: the Tribal stage, where property is owned and tilled communally by extended family units, the Feudal stage, where property is owned by a few individuals who compel the property-less to till the land for them, the Capitalist stage, where the property-owners (those possessing the means of production, e.g. A factory) compelled the property-less (those without the means of production) to work for wages, the Communist stage, where all property, and its bounty, is collectively owned by all individuals and administered through the state. (Singer, 12) With his theory of social evolution established, Marx predicted intense class struggle and revolution resulting in the collapse of the capitalistic system through society's abandonment of individual property ownership, bringing society into its final stage of economic organization. (Singer, 12)
Key Tenets of Socialism
Social Institutions and Capitalism
Unlike Marx, Weber believed that money, or "class" as he defined it, was not the only factor determining social relationships and authority within a society. (Merton, R. 195) According to Weber, class was just one of three factors, along with status and power. Weber predicted that the Capitalist system, which was dominated by non-familial, non-religious organizations, would promote increasing rationalization in the individual's experience with her environment. (Merton, R. 202) The individual's behavior would be increasingly motivated by rational goals influenced by organizational interests such as efficiency, over traditional factors such as kinship or moral conventions. (Merton, R. 203) This rationalization would lead to a bureaucratization of society, where individuals pursue prosperity and fulfillment through calculated, instead of the traditional channels of family and religion.
Religious Institutions
Formerly, religious institutions, such as churches, were the dominant social institutions guiding behavior. Religious institutions did this through promoting ethical guidelines and more general standards of behavior. They enforced these standards through their authoritative predictions as to the consequences of non-compliance, e.g. "sin," or through their ability to disaffiliate from "sinners" through ex-communication or public condemnation.
Social Institutions
The Preeminence of Reason, Rationalization, and Profit
Economic institutions, such as corporations and firms, became the most viable economic institutions since…
Social Economic Inequality When people think of social inequity, they generally frame this in terms of socio-economic class. People who have accumulated much wealth occupy the top echelons of society and enjoy the most privileges as brought on by their money and social status. On the other end, people who are poor have little or no access to these privileges and are often marginalized in terms of education and social services. However,
Social and Cultural Theory Study Guide Karl Marx Karl Marx was a prolific German social philosopher who is renowned for his exceptional theories related to modern socialism and communism. Marx strongly believed that the recent times have changed the value of man. According to Marx, people are no longer valued for who they are, but they are categorized assessing their importance and participation in the production of products/goods. In the present time,
Capitalism is "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market" As we can see from this definition, according to the Webster definition, there are two main characteristics for capitalism, both economic: a private ownership of capital goods and the role
52). Furthermore, Marx felt that money had "deprived the whole world, both the human world and nature, of their own proper value. Money is the alienated essence of man's work and existence; this essence dominates him and he worships it..." (Strathern, 2001, p. 52). From Marx's point-of-view, owners or holders of capital were in a position to exploit workers because of their "systematically privileged position within the market" (Pierson,
Social Revolution 1945 to 1990 Eric Hobsbawm's writing style was that of a historian. Nevertheless, his objective was always: adding to political action and thought, which he accomplished more effectively through this book than all his other works. Retrospectively, the author discovered that global socialism's challenge to the capitalist idea had a strength which was its opponent's weakness. Also, in truth, a large number of individuals who backed socialism sincerely
Free trade also has contributed to the economic exploitation of women, as the textile industry for example, which is predominantly women has seen jobs lost and wages cut. Women are often forced to be teachers or work in day- care centres, but not on equal footing with men. Women are victims as are ethnic minorities, and they are forced into hourly jobs with low salaries, high unemployment, and little unionization or official organization. Furthermore, women are
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now