philosophy paper

Why study economic determinism? If economic determinism undermines our freedom and we are but the playthings of alien forces, how is this helpful for reforming the social ills that Marx is so worried about? What might economic determinism teach us? How does it change our view of an approach toward the world and its problems?

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Economic determinism is a crucial concept that everyone should learn as it contributes to a lot of ideas in the day to day activities. According to research, the political, cultural, social, technological and intellectual aspects of the society are determined by the economic shape of the society. The economy entails all the aspects of supply, demand, work, earnings, wealth, poverty and anything else that explains value. Karl Marx as the economist who came up with this theory was known for his interest in the living standards of people which he used the most basic economic explanations. People are facing different problems on a daily basis either at home, in their places of work or school. Economic determinism can therefore be defined as a theory that explains the importance of economic factors as they are the main determinants of everything that takes place around the human activities in different sectors (Resnick & Wolff, 2006).

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