THE MARXIAN THEORY OF POLITICAL ECONOMY AND SOCIAL CLASS ANALYSIS
According to Marxian political economy, “the mode of production of material life, determines the character of political process of life”. Simply put, the above statement is not unconnected with the book titled “Communist Manifesto” that was jointly written by Karl Marx and Fredrick Engel in 1932. Karl Marx argued that the history of human existence is essentially the history of class struggle between the rich (bourgeoisie) and the poor (proletariat), between the oppressor and the oppressed. Be that as it may, the mode of production refers to the techniques of production, social relation among individuals in the productive cycle and the means by which the means of production is acquired. However, social class was reported to have thrown up two classes of people, but this cannot be hurriedly conclude without the pre-knowledge of social class. Therefore, social class refers to a group of people differing from each other in terms of their access and relation to the means of production. T...