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This is the present-day iron cage of institutionalized capitalism. Weber presents his argument in an ironic form. Religion of a particular sort was necessary to revolutionize the economy and the world. A Protestant ethic drove the reorganization of traditional economic life to become a calculating efficient system.
Also, most importantly, it is the bureaucracy—not the workers, or the people in general—which controls the economy and the state. Thus, the system is not truly socialist, but it is not capitalist either. [1] In Trotskyist theory, it is a new form of class society which exploits workers through new mechanisms.
Today, bureaucracy is the administrative system governing any large institution, whether publicly owned or privately owned. [3] The public administration in many jurisdictions is an example of bureaucracy, as is any centralized hierarchical structure of an institution, including corporations, societies, nonprofit organisations, and clubs.
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
Rational-legal authority is the basis of modern democracies. Examples of this type of authority: officials elected by voters, rules that are in the constitution, or policies that are written in a formal document. Rational-legal authority is built on a structure of bureaucracy.
In the real world, the “cloud serfs” with depressed prospects face increased asset prices and a housing market that Varoufakis calls “unapproachable.” The zeitgeist agrees with much of ...
This is a clear dichotomy, as one can be self-interested in one area but altruistic in another. By contrast, public choice theory models government as made up of officials who, besides pursuing the public interest, may act to benefit themselves, for example in the budget-maximizing model of bureaucracy, possibly at the cost of efficiency. [1] [13]
Real incomes are up. From the Census: “Real median household income was $80,610 in 2023, a 4.0% increase from the 2022 estimate of $77,540. This is the first statistically significant annual ...