Sorenson's Rent-Based Approach

In this paper I will be examining some of the various approached which have been taken in analyzing class analysis. In particular, I will be focusing on the Wright’s neo-Marxist approach to class analysis, Sorenson’s rent-based approach to class analysis and finally, Bourdieu’s approach to class analysis. Specifically I will be focusing on the ways in which each approach to class analysis, defines what classes are and the ways in which they are differentiated but also the relationship that exists between them. Secondly, I will look at what class analysis is meant to explain in each approach and finally, I will comment on an advantage the approach takes, but also a disadvantage which lies within the approach to class analysis.
Beginning

For example, while someone may “own” the means of production such as a factory filled with machinery, the machinery may, for example, require unionized or specialized labour to operate it, as well as the potential to meet, health and safety, pollution and other requirements to operate the machinery. Thus, “owning” the means of production in not sufficient in itself and requires relinquishing some power and rights to other players in class relations. Wright states, “Such redistribution of rights and powers constitutes a form of variation in class relations.” (2005, 13) Unlike Marx’s original ideology which saw the Bourgeoisie and Proletariat and polar opposites, the relationship is far more complex and involves some elements of give and take within class relations. However, that does not imply the relationship is in anyway equalized or that on class still does not control the majority of rights and power, only that that power is not absolute in

Whatever the source of the monopoly, the owners of the asset are thus able to control both the availability of the asset and control the price, often charging a price far greater than necessary to cover reasonable costs and profit, creating excess profit in the form of rent. A rent is the amount in excess of what would normally be attributed to the fair value and profit assessed on a particular asset or resource. For example, making a modest 25% profit after costs in order to provide one a livable wage would not be considered “rent”. However, if the person producing the product which might be scarce and in high demand decides to increase the profit margin from 25% to 200%, a 175% increase based on scarcity and demand, the 175% increase is considered rent. The users or renters of the assets, are thus required to pay the “rent” to the owners if they want access to the asset. Some examples of this in action are, cable companies, utility services (gas, hydro, water), cell phone companies, and others, just to name a few. If consumers want access to these services they are required to pay the price set by the supplier, whatever that price may