Application and Suitability of Various Sociological Theories in Contemporary Society – Coursework Example

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The paper "Application and Suitability of Various Sociological Theories in Contemporary Society" is an engrossing example of coursework on sociology. Sociological theories are significant in explaining social phenomena. In addition, they provide understanding about how society works, which is essential in coming up with practical solutions to the existing problems in society. A theory can basically be defined as principles and propositions that are developed with the objective of explaining a certain occurrence in society. Several sociological theories have been propagated by various scholars with the objective of explaining occurrences in society.

Max Weber and Karl Marx are two famous scholars who provided theories that can be used in explaining occurrences in society. This paper seeks to examine the application and suitability of various sociological theories in contemporary society. The theory that gives a better account of modern society between Max Weber and Karl Marx Although both scholars talked about similar subjects, however, they both had different conclusions. It can evidently be argued that Karl Marx's theory gives a better account of modern life as opposed to Max Webber's theory, in the manner in which he provides an account of capitalism.

According to Marx capitalism is a system that can only bring about negative implications to society. Marx argued that the central objective of capitalism is profit maximization which is bound to result in exploitation in society (Marx, et al, 1984). One of the evident negative implications of capitalism in modern society has been demonstrated by the recent economic crisis. Maynard Documentary (2014) reports that the recent 2008 financial crisis directed the minds, financial analysts and economists, back to evaluating whether Marx's ideologies were actually right.

This is because the crisis can be explained in terms of the fact that ordinary people who did not have much to spend were subjected to a lot of debts due to the borrowing acquired from owners' capital such as lending institutions like banks. The big wigs or owners of capital with their need to generate more profits increased their lending to ordinary people who could not pay back and thus leading to the debt crisis. Furthermore, the use of credit cards where people use money that they do not have landed more people into debts.

Ordinary people also bowered billions on the mortgage. The owners of capital lent people money using mortgages with the objective of making more profits. However, in the long run, people could not pay back the debts leading to the housing bubble, eventually, many banks and lending instructions collapsed. It argued therefore that the recent financial crisis is a good illustration that demonstrates how objective profit maximization resulted in the suffering of ordinary people who were left in debts and many lost their houses.

References

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Hadden, R 1997, Sociological Theory: An introduction to the classical tradition, Broadview Press.

Kelly, A, 2013, .Bangladesh's garment workers face exploitation, but is it slavery, The Guardian.

Mcelwee, S, 2013, Walmart has Ruthlessly Exploited its Workers for Years, TMV.

Marx, K, Engels, F and Feur, LS 1984, The communist manifesto' in, Basic writings on politics and philosophy, Fontana/Collins, London, pp. 43-70.

Maynard Keynes Documentary, 2014, Masters Of Money │ Episode 1 │ John

OECD (2000). The international Adult literacy survey, Literacy in the Information Age. OECD Publications.

Ritzer, G, 2007, The Weberian Theory of rationalization and the Macdonalization of contemporary society , Pineforge.

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Weber, M 1958, The Protestant ethic and the spirit of capitalism, New York: Scribner’s

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