Capitalism and Society - 1597 Words

Karl Marx and Max Webber both many had many philosophies of the capitalism and its effects on society. Their ideas helped pave the way and expand on theories of previous sociologists. Both men have a deep insight of socioeconomic class in the origins and development of modern capitalism. This paper will analyze the impact of capitalism on society as perceived by both men and the areas in which they agreed, disagreed, and expanded on the ideas of the other. In many ways, the Weberian theory was â€Å"rounding out† Marx’s theories, working within the traditions of Marxian (Ritzer, page 26). Weber viewed Marxists as economic determinists who offered single-cause concepts on societal life (27). Marx’s material orientation and its effect on†¦show more content†¦Marx was concerned with how modern capitalism creates this new form of wealth in which we were not accustomed to before. The issues stated above led Marx to believe that capitalism favors the capitalists at the expense of the workers though wage cuts, loss of jobs, or factories closed (Ritzer, 62).According to Marx, exploitation in modern capitalism makes the rich more wealthy and the poor more poorer. In Economic and Philosophies by Marx, he speaks of the division of labor that modern capitalism caused the workers: â€Å"The accumulation of capital increases the division of labour, and the division of labour increases the number of workers. Conversely, the number of workers increases the division of labour, just as the division of labour increases the accumulation of capital. With this division of labour on the one hand and the accumulation of capital on the other, the worker becomes ever more exclusively dependent on labour, and on a particular, very one-sided, machine-like labour at that. Marx saw the loss of individualism that occurs, making the labor of the individual more important than the value of that individual. Profit leaching on the surplus value of the product would lead to further exploitation of the workers which leads into the issues of class conflict between the proletariats (Ritzer, 62). The classShow MoreRelatedCapitalism Is Beneficial For Society1247 Words   |  5 PagesThroughout time, many scholars have debated if capitalism is a concept that is beneficial for society. People have mixed views on whether a country should have a free market economy with limited government involvement. Over time, capitalism has developed both positive and negative characteristics. 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