THE SOCIOLOGY OF ECONOMIC LIFE: COMPARING THE PERSPECTIVES OF KARL MARX AND MAX WEBER

Abstract

This paper seeks to examine and conceptualize the sociology of economic life through 
the perspectives of two classical sociological theorists, Karl Marx and Max Weber. The study 
begins by exploring the conceptual contrasts between these thinkers and provides a brief 
historical overview of their respective contributions to the understanding of economic and 
social life. Both Marx and Weber devoted considerable attention to the sociological analysis of 
the economy; therefore, this paper focuses on their interpretations of bourgeois-capitalist 
society, particularly Weber’s notion of rationalisation and Marx’s concept of alienation. 
Furthermore, the paper compares Marx’s argument regarding the formation of social classes 
through the organisation of production with Weber’s emphasis on status distinctions, power 
relations, and collective social action.

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