Karl Marx’s approach was, at first, the most convincing theory of social class. However, the Neo-Marxists have reinforced and expanded on Marx’s original theories and today there is no single Marxian standpoint.
Marx believed that economic processes, such as the harnessing of natural resources, producing goods, developing new technologies and establishing a division of labor in the workforce, are of great importance in society. According to Marx, these economic processes are crucial because in order for these any of these things to happen, people in society come together and enter into social class relationships.
Marx posited that there are two main classes in any capitalist society, the bourgeoisie and the proletariat, and that the two classes are defined by their relationship to resources specifically the means of production. The bourgeoisie own and control the means of production. Therefore, they have a high, economically powerful position in society. The proletariat or workers class can only subsist by offering their labor to the upper class. This division between the classes is what drives class conflict.
According to Marx’s labor theory of value, the value of a product is not it the raw materials, but in the labor of the worker who produced it. Consequently, in Marx’s eyes, the worker deserves most of the profit from the sale of that product. Yet, in a capitalist society, the owner or employer receive most of the economic rewards.
Marx contended that over time class divisions would become even more polarized as the