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POL 315 THEORY AND PRACTICE OF MARXISM 4.0 CONCLUSION There are two major social groups: bourgeoisie and the proletariat (a ruling class and a subject class). As a result, there is a basic conflict of interest between the two classes. The ruling class exploits and oppresses the subject class. The free market does not guarantee that merit is equally rewarded for all social groups. Social justice may therefore be promoted when the state intervenes on behalf of the oppressed classes. 5.0 SUMMARY The essence of capitalism is that the means of production, distribution and exchange - the factories, mines, railways and other resources needed to produce goods and services - are privately owned and exploited by individuals (or individual firms) to generate wealth for themselves. The foundation of society (the economic and social class systems) determines the nature of society's superstructure, which rests upon foundation. Accordingly, for most of its history, socialism has held that the surest way to remedy the ills of capitalism is for the state to nationalise these productive resources (take them into public ownership) and to manage them on behalf of all society's members. SELF-ASSESSMENT EXERCISE i. Explain the linkage between economic substructure and the superstructure of your society. ii. Describe the characteristics of economic substructure in capitalism. 6.0 TUTOR-MARKED ASSIGNMENT 1. Evaluate the position of the material base in any society. 2. Explain how the superstructure can create false consciousness. 7.0 REFERENCES/FURTHER READING Asirvatham, E. & Misra, K. (2005). Political Theory. New Delhi: S. Chand and Co. Ltd. Baradat, L. (2006). Political Ideologies: Their Origins and Impact. New Jersey: Pearson Prentice-Hall. Johari, J. (2012). Principles of Modern Political Science. India:Sterling. Miliband, R. (1969). The State in Capitalist Society. London. 33