The conflict theory states that society is in a constant state of conflict due to competition for limited resources.
 | | Conflict Theory | | The conflict theory, suggested by Karl Marx, claims society is in a state of perpetual conflict because of competition for limited resources. It holds that social order is maintained by domination and power, rather than consensus and conformity. According to conflict theory, those with wealth and power try to hold on to it by any means possible, chiefly by suppressing the poor and powerless. A basic premise of conflict theory is that individuals and groups within society will work to maximize their own benefits. | | Read More » | | Related to "Conflict Theory" | | | | Which Income Class Are You? | | Which income class do you belong to and what defines the different classes? We hear it all the time, the middle class is shrinking, but what does the data say? | | Read More » | | | Karl Marx | | Karl Marx was a 19th century philosopher, author and economist famous for his ideas about capitalism and communism. He was the father of Marxism. | | Read More » | | | The Wealth Effect | | The wealth effect is a behavioral economic theory suggesting that consumers spend more when their homes or investment portfolios increase in value. | | Read More » | | | Working Class | | Working class describes persons in low-paying jobs often requiring considerable physical labor but limited skill or education. | | Read More » | | | Middle Class | | The middle class refers to individuals who fall between the working class and the upper class. Those in the middle class often are employed as professionals, managers, and civil servants. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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