Use sociological terms and concepts from the current or previous chapters and the major sociological theories to analyze the hypothesis that "people use economic power (wealth and income) to gain social and political power." Include a discussion about whether or not this is a feature of each economic system: capitalism, socialism, and communism.
Theories are typically created so as to make sense of experiences. As such, sociological theory is the set of ideas that are interrelated so as to permit for knowledge systematization of the world from a social perspective. The resulting knowledge is thus therefore used to give meaning to the social world as well as make predictions regarding the future of the same (Ritzer, 2010).
From a hypothetical perspective that "people use economic power (wealth and income) to gain social and political power", the Carl Marx's theory of value and surplus value states that there is generally exploitation of labor by capital. As such, being one of the angles of Marx's sociological theory, Marxism thus becomes not only a socio-political theory, but also an economic one that is dependent on the materialistic interpretation of aspects of history (Mattick, 1983). Within ...
The use of economic power so as to gain social and political power is emphasized.