Theory and practice

Running head: Theory and practice
Theory and practice
Name of the Student
Name of the University
Authors Note

Running head: Theory and practice
The relationship between theory and understanding the social world.
Your ideas about theory and different theoretical perspectives - are you clear about
where you stand?
In Australia, there has been a growing recognition of the failure of the modern economy to
provide benefits of every person living in Australia. Australia is facing a rising inequality
from the time of 1980s like other industrialised countries. There is concentration of wealth,
income and power in small group that only represents one per cent of the entire population.
(Murray &Peetz 2013; Piketty 2014). These views correspond with the ideas of Marxian
Class theory, where he corroborated to the facts that the society is divided on the bases of
materialistic accumulation. Marxian Class theory asserts that an individual’s position in the
hierarchy is determined by the role they play in the production process and argues that the
political and ideological is determined by class position. My ideas regarding Marxian theory
of class theory corroborates the fact of increasing bipolar tendencies of global amassing of
capital. I stand supporting the idea.
Can you see the relationship between theory and practice in any particular contexts you
are familiar with?
He also stated and both the class represents group that have innate conflicting
attitude, which results in the conflicting tendencies of such group. In his views, he admits that
“The history of all hitherto existing society is the history of class struggles... Freeman and
slaves...”. According to him, the conflict is the driving forces of history and determinants of
social trajectories. His theorization dates back to 18th- and 19th- century, has not lost his
relevance completely. The bipolar nature of the society has still not been eradicated with the
development of technology and science, rather there is reinforcement of it. For example the
financial crisis of 2008, when the housing bubble burst or when 2001 dotcom crisis or so on.