THE THEORIES
Famous for the idea of the "invisible hand," this philosopher argued that free markets naturally balance out when people act in self-interest.
Who is Adam Smith? (Classical Liberalism)
According to Max Weber, these three distinct factors determine a person's social position and inequality in society.
What are Class (Economic), Status (Social), and Power/Party (Political)?
This phenomenon occurs when characters or society judge human worth based on material possessions and status symbols rather than human labor.
What is Commodity Fetishism?
Systematic prejudice or social barriers that favor the wealthy elite while keeping lower-class individuals marginalized is known as this term.
What is Classism?
This theorist introduced the idea of "embeddedness," stating that the economy cannot be separated from social rules and cultural norms.
Who is Karl Polanyi? (Institutional Economics)
In Weber's stratification model, this dimension refers specifically to a person's social prestige, reputation, and respect in society.
What is Status?
When working-class people adopt ruling-class ideology (like blindly believing in the "American Dream"), Marxists call this state of mind...
What is False Consciousness?
According to Marxism, capitalism is primarily based on exploiting this group so business owners can profit.
Who are working class people / laborers?
This German sociologist lived from 1864–1920 and wrote Economy and Society, one of the most influential sociological texts of the 20th century.
Who is Maximilian Carl Emil Weber (Max Weber)?
Weber argued that this specific religious mindset and ethics helped shape and enable modern capitalism.
What is the Protestant Ethic?
When analyzing a text through a Marxist lens, step two requires looking for moments where working-class labor is undervalued or taken advantage of for elite profit.
What is Uncovering Exploitation?
Karl Polanyi's theory that economies are bound within social rules, legal structures, and cultural systems is known as this core concept.
What is Embeddedness?