Topic > Economic and socialist theories related to power-wealth

Different political economy theories have attempted to explain international political economy by formulating a clear relationship between the interaction between wealth and power. Is political power at the international level more significant for state stability than economic development? How do power and wealth shape society and, consequently, shape the international sphere? Questions relating to the relationship between power and wealth are, in my opinion, the most important questions, not only in the sphere of international political economy, but also in the field of social sciences in general. Its significance derives from its essential role in determining the structure of society and the nature of every social relationship in a given society. In the sociological field, the first problems that concerned sociologists were those of social formations, and this included the study of the relationship between wealth and power and its important effect on social relations between individuals and on the nature of society. Many thinkers of these early times, Smith (2003, 2013), Ricardo (2012), Weber (2001, 1978, 2012, 1993), Marx (2013, 2011, 2011), Lenin, (2011, 1987) to name just a few few, had dedicated their careers as social scientists in economics, political science, philosophy, or sociology to answering these important questions regarding the nature of the relationship between wealth and power and its effect on the formation of society and its institutions. In recent years, however, there has been a shift towards different subfields within the discipline, such as gender, race, education, etc. Despite this shift, the importance of studying the wealth-power relationship will always be highly significant.... ..middle of paper......isolation of workers, by competition, by revolutionary association, by association. The development of modern industry therefore takes away from under its feet the very foundations on which the bourgeoisie produces and appropriates products. What the bourgeoisie therefore produces above all is its own gravediggers. Its fall and the victory of the proletariat are equally inevitable. (Marx 2013:30) It is difficult to limit Marxist theory to one or two paragraphs; for many reasons, from the incredible impact that Marxist theory has had on our understanding of social relations, to the amount of controversy it has generated. Marx argued that economic experiences must be understood from their historical context, and I will similarly argue that in order to fully understand Marxist theory, we must understand the theory in its historical context..