Question

According to the sociologist Erik Wright’s Marxian model, the __________ is composed of individuals who have inherited fortunes, own major corporations, or are top corporate executives with extensive stock holdings or control of company investments.

Answer 1

Answer:

capitalist class

Explanation:

Traditionally Marxists divide between the two main classes: the bourgeoise, or the capitalist that have the means of production, and separate from the proletariat, which is the rest of the people who only have their labour power and sell in the market.

According to Erik W and the Marxist postulates, a capitalist class forms as a result of an original wealth that was dominated by several individuals that appropriate it and will perpetuate their status through inheriting the fortunes or by engaging in an economic activity like stock holdings and control of investments in corporations.

Since the stock market is the key institution of the capitalist world, companies will go public to broaden their expansion for capital.

This view will make economic growth the result of enlargement of business profits. Since income that business produce makes the basis of the wealth of a capitalist class, who also happen to have extensive stock holdings used to control politically.

The top executives will have legal ownership and control over investments.