Ii feudalism is an economic system in which people

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ii. Feudalism is an economic system in which people work the land for others in exchange for a share of the food production. This was the mode of production in Europe during the middle ages. iii. Capitalism is an economic system in which people who own private property utilize the labour of others in the pursuit of profit. b. Each mode of production has 2 components: i. The forces of production : all those things that are needed for production to occur. 1. Means of production: defined as the property utilized in production (land, raw materials, technology, buildings, ect) 2. The productive labour: comes from people who utilize skills, knowledge and experience) c. The social relations of production: The relationships between the main classes involved in production. Each mode has a basic distinction between classes... owning property class and the non-owning propertyless class. Class is directly related to whether or not you own the means of production. i. Antiquity (slavery) 1. Masters 2. Slaves ii. Feudalism 1. Lords 2. Serfs iii. Capitalism 1. The Bourgeoisie 2. The Proletariat
C. Marx’s Two Class model a. General Aspects of the Model i. In any given mode of production there is always going to be an opposition between the interests of the owners and the non-owners. They enter into an exchange relationship... the non-owners give their labour to the owners and in return the owners give the non-owners income or other means to survive. ii. This exchange relationship is coerced... slaves have no choice but to work for owners and serfs also have no choice but to work for lords. b. The Model under Capitalism i. The bourgeoisie (also referred to as the capitalist class or capitalists) own the means of production ii. The Proletariat (AKA the working class, workers) do not own the means of production. Instead they sell their labour to capitalists and in exchange they receive wages. iii. This exchange relationship is still characterized by cohesion however in this mode workers are not legally required to work for capitalists. It is still cohesive however because most workers don’t really have a choice b/c they need money. D. Marx’s Recognition of “middle Classes” under capitalism a. The Petty Bourgeoisie : this was the “middle class”. They are independent producers or owners (i.e. farmers or small business owners). They also own the means of production. The difference between the Bourgeoisie and the Petty Bourgeoisie is that the Petty hire very few workers if any. b. Other “middle Classes”: Marx also refers to “middle estates or Strata”, “middle stages or ranks”, and “middle Classes”. Some argue that this was just another way for him to refer to the Petty Bourgeoisie, and some argue he was referring to other middle classes. c. The Disappearance of “middle Classes ”: Marx thought that these middle classes would largely disappear from the mode of production. He believed that some of the members would be absorbed into the bourgeoisie but he thought most would fall into the Proletariat. Business either expands, gets bought out by larger company or falls apart.

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