Functionalism, Marxism and Praxeology



Functionalism, Marxism and Praxeology

Introduction

Macro Functionalism, Neo Marxism and Praxeology are very important economic theories which cover various perspectives of macro economics. Macro Functionalism is a theory which defines the term society as various interrelated components working together as a whole. Neo Marxist is another important theory which deals with the various forms of political philosophy which further confronts the modern economic issues such as the stability of liberal democracy, the capitalist welfare state and the global economy (Ritzer, 2008). Whereas, Praxeology is termed as the study of human action related to a particular criteria to be followed ...