MAX WEBER THEORY:

Max allegedly oversimplified understanding of stratification infuriated Max Weber. Weber

claimed that a person's social class is not solely based on whether or not they own property like
factories or machinery. For Weber, social class went beyond possessions or wealth to include
influence and status. Even those who manage businesses without owning them reap the rewards
of higher output and profits.
 Given that people typically hold wealthy people in high regard, Weber claimed that
owning property can offer respect. There are various ways to gain prestige, such as via
physical or intellectual prowess. If people are prepared to pay for access to prestige in
those situations, prestige can eventually lead to property. Wealth and status go hand in
hand for Weber.

 According to Weber, social class is also a function of power, which is simply the capacity
of a person to succeed in spite of obstacles. People who are wealthy typically have more
power than those who are poor, and prestige can also give someone power.Because the
multi-dimensional elements have such a significant impact on people's lives, Weber's
contributions to inequality and stratification are still seen as significant. This article's
analysis of Weber's inequality and stratification theory shows how it still offers an
adaptable foundation since it captures the intricate reality of contemporary societies and
takes into account all relevant parts of interconnected processes.

The primary claim made by Weber on this subject is that social stratification and inequality have
a complicated character based on multi-dimensional causality. Marx and Weber's conceptual
frameworks are being used as references today. Although Weber and Marx hold opposing views
on inequality, they both share a similar understanding of the nature of inequality and the
significance of the classes as key contributors to inequality. After Marx's two-polar analysis of
the proletarian and bourgeois classes, Weber added a middle class that was neither proletarian
nor bourgeois. By doing so, Weber expanded Marx's analyses he created a three-dimensional
stratification viewpoint of class, status, and party.

KARL MARX THEORY

The proletariat and the bourgeoisie are the only two classes of individuals in modern society,
according to Karl Marx's conflict theory. The factories, companies, and other pieces of
equipment required to create wealth are owned by the bourgeoisie. The laborers make up the
Proletariat.
Marx claimed that in capitalist countries, the bourgeoisie exploited the working class. The
workers are paid enough by the owners to be able to afford food and housing, and because they
are unaware that they are being exploited, they have a false sense of well-being. They believe
their capitalist overlords will act in their best interests.
A workers' revolution was predicted by Marx. Marx postulated that as the rich got richer, the
working class would become truly class conscious, or have a sense of shared identity based on
their shared experience of being exploited by the bourgeoisie. In a worldwide revolution, the
workers would band together and rise. The workers would then own the means of production
once the revolution was over, and communism would rule the planet. Access to riches would not
be governed by any one stratum. Everyone would own everything equally.
Marx's dream did not materialize. The working classes got more educated as societies advanced
and developed in size, picking up specialized job skills and obtaining a level of financial security
that Marx never imagined was conceivable. They came under the protection of unions and labor
laws rather than experiencing increased exploitation. After a while, skilled manufacturing
employees and craftsmen started to get pay on par with or even more than that of middle-class
workers.
The history of all societies up to the present, according to Marx, is the history of class struggles.
According to Marx, the fundamental contradictions of capitalism will eventually cause this
society to collapse when a working-class revolution topples the bourgeoisie and seizes the means
of production occurs.

SELF VIEWS:

The wealthiest individuals hold most of the power in the world today, contrary to what Weber
predicted a year ago that the individuals with the greatest wealth would be granted authority.
Weber demonstrates the benefits of capitalism and demonstrates that it is a powerful weapon for
social and scientific growth that goes far beyond simple economics. Additionally, according to
Weber, capitalism is a beneficial trait when carried out rationally and with consideration for how
workers are treated because a capitalist never wants to experience a loss. They always want to
increase revenue and retain the lion's share of it.

The finest theory of social division is Weber's theory, which supports capitalism. The
explanation for this is that Weber approaches the Karl Marx theory from a variety of angles. Karl
Marx concentrates exclusively on the factory economy as the source of his power and the
foundation of the class structure. Karl Marx was somewhat ignorant in that he primarily
considered wealth as a measure for a person's rank in society. Weber, however, demonstrates that
classification requires a lot more elements than just income, such as political and social
considerations. Additionally, according to Weber, Marx did not take into consideration the fact
that skilled labour should be paid more than non-skilled labour.