Capitalist mode of production (Marxist theory) and Wage slavery

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Difference between Capitalist mode of production (Marxist theory) and Wage slavery

Capitalist mode of production (Marxist theory) vs. Wage slavery

In Karl Marx's critique of political economy and subsequent Marxian analyses, the capitalist mode of production refers to the systems of organizing production and distribution within capitalist societies. Wage slavery is a term used to draw an analogy between slavery and wage labor by focusing on similarities between owning and renting a person.

Bourgeoisie

The bourgeoisie is a polysemous French term that can mean.

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Exploitation of labour

Exploitation of labour is the act of treating one's workers unfairly for one's own benefit.

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Friedrich Engels

Friedrich Engels (. Random House Webster's Unabridged Dictionary.;, sometimes anglicised Frederick Engels; 28 November 1820 – 5 August 1895) was a German philosopher, social scientist, journalist and businessman.

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Industrial Revolution

The Industrial Revolution was the transition to new manufacturing processes in the period from about 1760 to sometime between 1820 and 1840.

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Karl Marx

Karl MarxThe name "Karl Heinrich Marx", used in various lexicons, is based on an error.

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Means of production

In economics and sociology, the means of production (also called capital goods) are physical non-human and non-financial inputs used in the production of economic value.

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Ownership

Ownership is the state or fact of exclusive rights and control over property, which may be an object, land/real estate or intellectual property.

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Private property

Private property is a legal designation for the ownership of property by non-governmental legal entities.

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Proletariat

The proletariat (from Latin proletarius "producing offspring") is the class of wage-earners in a capitalist society whose only possession of significant material value is their labour-power (their ability to work).

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Reserve army of labour

Reserve army of labour is a concept in Karl Marx's critique of political economy.

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Social class

A social class is a set of subjectively defined concepts in the social sciences and political theory centered on models of social stratification in which people are grouped into a set of hierarchical social categories, the most common being the upper, middle and lower classes.

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State (polity)

A state is a compulsory political organization with a centralized government that maintains a monopoly of the legitimate use of force within a certain geographical territory.

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Unemployment

Unemployment is the situation of actively looking for employment but not being currently employed.

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Wage labour

Wage labour (also wage labor in American English) is the socioeconomic relationship between a worker and an employer, where the worker sells his or her labour under a formal or informal employment contract.

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