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MARX AND WEBER ON HISTORY AND THE RISE OF CAPITALISM

the benefit of factory owners, not for the common good. The introduction of new production machinery and the division of labor had made factories more efficient. They also chained people to the machine and made them commodities, whose wages, the average cost of labor, were always equal to the marginal cost of production which would be established by market forces at a bare subsistence level.

The rise of capitalism had been facilitated by the discovery of the riches of the New World and the development of new markets which Marx said "gave to commerce, to navigation, to industry an impulse never known before," resulting in the destruction of feudal society and the rise of a new ruling class, the capitalists or bourge

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MARX AND WEBER ON HISTORY AND THE RISE OF CAPITALISM. (1969, December 31). In LotsofEssays.com. Retrieved 08:15, May 17, 2024, from https://www.lotsofessays.com/viewpaper/1708131.html