Explain Karl Marx’s theory of social class, including what groups he describes, what their relationship to each other and to the economy is, and the outcomes he predicts will result from this arrangement

Question

Please provide the best answer for the statement.

Answer 1

1. Marx argued that some people own the means of production (farms, factories) and others work for them. Ownership leads to control.
2. Capitalists or the bourgeoisie are the owners, and the working classes or proletariat are forced to become wage laborers or go hungry.
3. Capitalists receive the profits while wage laborers live in perpetual poverty.
4. The classes are in conflict, and eventually the proletariat will organize, rebel, and overthrow capitalism in favor of socialism, where the workers will own the means of production.