Center for Economic and Social Justice powers and profits of land and productive assets became concentrated within a tiny elite of private owners. To remedy the abuses of concentrated capital ownership, Marx and Engels in "The Communist Manifesto" (1848) declared, “[T]he theory of the Communists may be summed up in the single sentence: the abolition of private property.” In contrast, Kelso turned the socialist's central assumption around by asserting that private property, far from being the problem, is essential for creating a truly just free market global economy. An economically just economy is one in which every citizen can be a capital owner without taking property
Social conflict theory individuals compete for economic gain. He defines a class as a group of individuals who share a similar position in market economy and by virtue of that fact receive similar economic rewards. Thus a person's class situation is basically his market situation. Those who share a similar class situation also share similar life chances. Their economic position will directly affect their chances of obtaining the things defined as desirable in their society. Social conflict theory Social conflict theory is a Marxist-based social theory which argues that individuals and groups (social classes) within society interact on the basis of conflict rather