What roles does Karl Marx assign to the state in capitalism?
Social Psychology (10th Edition)
10th Edition
ISBN:9780134641287
Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Chapter1: Introducing Social Psychology
Section: Chapter Questions
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Introduction
The term capitalism can be defined as a situation of the state where the 'mode of production is based on the ownership of 'means of production. In this type of state of the economic system, the government owns all the properties and the workers are paid low wages for their work. the term Capitalism has been coined and popularized by Karl Mark. According to him in a Capitalist state, the Bourgeois control and owned all the economic affairs. It is a type of economic system where all the businesses and industries are owned by private individuals or an organization.
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