Theory
In sociology, many people have tried and come up with explanations for everyday happenings. Furthermore, they try to explain the ideas behind certain phenomena or observations within the human race. Some of such theorists were Marx and Engel. They came up with theories explaining why economies are they way they are.
Theory
According to Kermerling (Online, p.1), the theory formulated by these two is the communism theory. This is where the economy is held by those with the means of production. The more one has, the more contribution he makes to the economic development, the higher say he has and the more he dominates. This is where the wealthy people are seen as the lords. The poor live as servants or subjects to the rich. The harder they work, the more they earn for the wealthy and the more they become social subjects.
STCE (p. 40) posits that the Marx-Engel theory holds that the wealthy are also intelligence. For this reason, they can make intellectual decisions regarding the environment. Those that have the means to exploit the available resources have the capacity to make mental decisions. Those who have no means of production have no voice in the production processes. They have to remain as subjects to the wealthy.
In a nutshell, Marx-Engel theory is the background for communism. It is where the rich or those with the means of production have the mandate to make economic decisions. It is assumed that their ability to obtain wealth is related to the ability to make sound economic decisions. Such people can therefore be trusted to make decisions determining the direction the economy takes. On the other hand, the poor may have sound ideas but they may not have an impact on the economy since they have no means of propagating the thought. In essence, the economy is played on the basis of the haves and the have-nots, with the former having a considerable advantage when it comes to economic decision making.
