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  • Essay / Economic and socialist theories related to wealth and power

    The various theories of political economy have attempted to explain the international political economy by formulating a clear relationship between the interaction of wealth and power. Is political power more important at the international level for state stability than for economic development? How do power and wealth shape society and, therefore, the international sphere? Questions concerning the relationship between power and wealth are, in my opinion, the most important questions, not only in the field of international political economy, but also in the field of social sciences as a whole. Its importance comes from its essential role in determining the structure of society and the nature of each social relationship in a given society. In the sociological field, the first problems that concerned sociologists were those of societal formations - and this included the study of the relationship between wealth and power and its important effect on social relations between individuals and the nature of society. Many thinkers from these early years, Smith (2003, 2013), Ricardo (2012), Weber (2001, 1978, 2012, 1993), Marx (2013, 2011, 2011), Lenin (2011, 1987), for n to name just a few. few have devoted their careers as social scientists in economics, political science, philosophy, or sociology to answering these important questions about the nature of the relationship between wealth and power and its effects on the formation of society and its institutions. However, in recent years there has been a shift towards different subfields within the discipline, such as issues of gender, race, education, etc. Despite this change, the importance of the study of the wealth-power relationship will still be very important.... ... middle of paper ...... isolation of workers, due to competition, by the revolutionary combination, due to the association. The development of modern industry therefore destroys the very foundations on which the bourgeoisie produces and appropriates products. What the bourgeoisie therefore produces above all are its own gravediggers. Its fall and the victory of the proletariat are equally inevitable. (Marx 2013: 30) It is difficult to limit Marxist theory to one or two paragraphs; for many reasons, from the incredible impact of Marxist theory on our understanding of social relations to the scale of the controversies it has generated. Marx argued that economic experiments must be understood from their historical context, and I will similarly argue that for us to fully understand Marxist theory, we must then understand the theory in its historical context..