Karl Marx founded this theory in the 1800's throughout the idea that economic power is essential in the understanding of society.

Different levels in political power ensure that society functions properly, as changes in the economy result in changes in society also. In summary, conflict and divisions of wealth and power are what hold a society together as a whole. It explains the division between the powerful and powerless, and the role they play for one another in society.


Is it true that according to the Neo-Marxists the institutions of society all serve to benefit the rich?
In society, what causes alienation to its members?
How does the economy affect the way society functions?

Economic power, being the root of the political power is key in the understanding of society. By looking into the role that economy plays in society, one can better understand the power that each social class has. Neo Marxists views globalization as a negative factor because capitalism places humans in direct competition with one another.

Capitalist: An economic system dependent on private investment and profit making
Social Class: Groups in society having the same economical, cultural and political status
Inequality: The state of being unequal or experiencing discrimination by others
Economic Systems: The power to create wealth by production
Political Power: Type of power held by a certain group in society
Hierarchy: A ranking of authority/power by a figure(s)