Question

Explain the following concepts with short explanations: a) Commodity fetishism b) Under consumption crisis c) Patriarchy

Answer 1

Solution:-

(a) Comodity fetishim:- commodity fetishism is the perception of the social relationships involved in production, not as relationships among people, but as economic relationships among the money and commodities exchanged in market trade.

(b) Under consumption crisis:- The most popular explanations for economic crises advanced by Marxists since the death of Engels in 1895 are underconsumption, profit squeeze and disproportionality. ... The fall in the rate of profit leads to the crisis. The theory of disproportionality can also be divided into two sub-theories.

(c) Patriarchy:- Patriarchy is a social system in which males hold primary power and predominate in roles of political leadership, moral authority, social privilege and control of property. In the domain of the family, fathers or father-figures hold authority over women and children. Some patriarchal societies are also patrilineal, meaning that property and title are inherited by the male lineage.