Evaluation of Marx's and Weber's concept of class relevant to understanding contemporary societies

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To understand the foundations of Marx's and Weber's class analysis one must look beyond their synoptic treatments of class in their well-known and much appreciated works on economy, party concept and class systems. These perceptions and concepts of class are intimately linked to their investigations of the broad problem of rationalization in modern society…

Introduction

This leads to a relatively impoverished conception of the nature of antagonistic interests generated by class relations.
Key readings from Marx ("The Communist Manifesto" and "On Classes") and Weber ("Class, Status, and Party") help us understand the sociological analyses of inequality in the concepts of social class, exploitation, surplus value, markets, status, and power. But there is always a difference of opinion between these two thinkers that clearly contrasts Marx's historical materialism and emphasis on class conflict with Weber's exploration of the overlapping sources of inequality in economic, social, and political spheres. (Chatterjee, 83)
The importance of production relations in Marxian theory with Weber's emphasis on market relations could be a key prospect in understanding the basic or fundamental influence on modern European society. It could well be suggested that both property and market dynamics are important by relating each to the concepts of class composition. ...
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