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Points to remember

  • R.K Merton coined the concept of the Bureaucratic Personality.
  • W.Rostow identified stages or the categories within which all societies could be placed economically.
  • Berger and Luckmann hold that there is a reciprocal interdependence of individuals and society in creating social reality.
  • Karl Marx and Frederich Engels have put forward materialist variant of the evolutionary theory.
  • Parsons has given the theory of leisure class. He has given Functional Imperatives comprising of adaptation, goal attainment, integration and latency.
  • Weber has given the concept of booty capitalism meaning a system in which wealth was acquired by the financing of wars in the expectation of booty.
  • Seeman isolated the concept of alienation into powerlessness, meaninglessness, isolation and self-estrangement.
  • Lenin has said that state is a special repressive force of the proletariate by the bourgeoisie of millions of workers by handful of rich.
  • Weber wrote the book- The Economy and Society.
  • Veblen gave the concept of conspicuous consumption.
  • Karl Marx wrote the book -First Indian War of Independence.
  • Simmel wrote the book-the philosophy of money in 1900.
  • Karl Polyani gave the concepts of embedded economy and the principles of exchange.
  • Max Weber in his concept of protestant ethic wrote that it was the decisive factor in the emergence of modern capitalism.
  • According to Emile Durkheim division of labour in modern society is the principal source of social cohesion or social solidarity.
  • Mitchell remarked that both material rewards and prestige are accorded differentially so that both integrative and functions are served.
  • Lambert and Hoselitz commented that the sum spent on marriage and death ceremonies in India could have increased investment by more 50%.
  • Hobhouse observed that property is to be conceived in terms of the control of men over things.
  • According to Mckee economic activity is closely involved in the distribution of status and prestige.
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