The latter consists of the base structures needed for the said societies production and operation; structures such as transport, energy and healthcare are part of the infrastructure. Institutions such as the justice system, military and family, among others, make up the superstructure. Marx viewed the 'state' as being in a relationship with society as one of control and subservience, respectively, therefore creating conflict. In Marx's theory of the state, he postulates the terms of mode/means of production, where the labour force are oppressed by the elite and owners of the production. He conferred that there were different stratifications, which formed economic bases, creating an ideological superstructure which consisted of juridical and
Many international relation scholars use the three main schools of thought, realism, liberalism and constructivism, to understand and analyze states’ behaviors in the international arena. Each of the three theories uniquely explains the reasons behind a state’s behavior in times of peace or during a conflict. Realism is the school of thought that believes that the international system is anarchic and thus the states try to gain material power. On the other hand liberalism focuses on the power of institutions, which are founded on common values and goals of the state, in the international system. The last theory constructivism believes that state goals are a reflection of social norms, values and history of a state.
2.2.2 Bourdieu’s formulation Pierre Bourdieu used the term social capital in his article, ”the forms of capital” where he defined social capital differently. He define it as: “Social capital is the sum of the resources, actual or virtual, that accrue to an individual or a group by virtue of possessing a durable network of more or less institutionalized relationships of mutual acquaintance and recognition.”(Bourdieu 1985a) Therefore, according to Bourdieu, social capital consist of two main components: (1) association memberships and social networks, and (2) mutual cognition and recognition. He argues, "The volume of social capital possessed by a given agent ... depends on the size of the network of connections that he can effectively mobilize". It is the quality of outcomes that is produced by the strength and quality of the relationships, at various levels, between the different actors and not the quality of the group itself. He argues that membership sin groups, and involvement in the social networks can be used to improve the social position of the actors in different social fields/classes.
According to the Oxford dictionary class is “a system of ordering society whereby people are divided into sets based on perceived social or economic status” (OD, 2017). The term class is however, a complicated term which is used in many ways. Different analyses of the term have been done under functionalism and structuralism. Functionalism studies different part of society and their functions. Structuralist theorists are interested in identifying and analysing the structures that underlie all phenomena.
This makes the social stratification theory to extend beyond national boundaries. Weber extends the theory of the social in relation to the economic and political order in the society. It can be viewed as the distribution of power within a
Moreover, the numerous economic institutions required for capitalist accumulation tend to guide the evolution of non-economic (i.e., social, political, and cultural) institutions. Therefore, where capital accumulation is the organizing principle of the economy, “it also gains significant influence on the overall nature of societies and, in certain circumstances, may become the dominant principle of societal organization.” (Jessop 2002, 29). For example, the costs associated with producing and reproducing labor power – a key component in the circuit of capital – has historically relied on a specific gendered division of labor within the family. Indeed, social relations and institutions ostensibly outside the production process are often critical for the reproduction of
It belongs to the Zoë life where art is the symbolization of the expression and speech by which the larger self communicates and articulates itself. III] Analyzing the value of artistic production in the political economy Using the philosophical framework of “The Gift” as our foundation, we will now look at the basic premise of the artist’s dilemma through a political economy
They differ in their target of influence, whether it is the manner in which the country is run or by the ideas that govern the society and the underlying philosophies and what makes people take the decisions that they do. Ideology inherently differs from strategies and individual stand on issues as it is vital that ideology must include a whole assortment of thoughts. Political ideology comprises of the ideas that mould the formation of a government and the economic system. When we look at it from the sociological point of view, it governs the way society works (Kinloch, 1981). The various principles, standards, guidelines and ideas of class preside over our society, and collectively forms a foundation for the social order in the politico-cultural paradigm.
STEEPLE stands for: Social: Social factors include demographics, lifestyle, age groups and education levels etc. Technological: Factors include the state of the technological advancement and trends in technology etc. Economic: It includes economic factors like GDP growth rate, inflation rates, interest rates set up the central bank etc. Environmental: It includes weather and climate of the region, the flora and fauna of the region, etc. Political: It includes the type of Government that exists and its ideology exhibited by the various tariffs imposed, incentives given, and the stability of the government etc.
CHAPTER 1 INTRODUCTION This study is to examine the factors that can influence companies stock price. This chapter will discuss briefly on the background of the study, problem statements, research questions,research objectives, significance of study and also provide a summary of chapter 1. In the background of study, this research will discuss more about the dependent and independent variables. The dependent variable in this research is the companies stock price while for the independent variables are Dividend Yield (DY), Dividend payout Ratio (DPR), Earning per Share (EPS) and Return on Equity (ROE). It is presumed that the selected independent variables have a significant influenced on the companies stock price.