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About One Hundred Years Has Passed Since Marx, Weber, and Durkheim

question 58

Essay

About one hundred years has passed since Marx, Weber, and Durkheim were writing about modern society. Point to at least one change in U.S. society over that period of time that appears to confirm the correctness of each theorist's analysis. Can you point to a change that, in each case, seems at odds with his theory?


Definitions:

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Consumes

To use up resources or goods, typically in the context of eating, drinking or utilizing products to satisfy needs or wants.

Utility Function

A mathematical representation that describes how consumers rank different bundles of goods according to their level of satisfaction or utility.

Consumption

The process by which goods and services are utilized by consumers, influencing economic activity and growth.

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