Economic determinism is a socioeconomic theory that economic relationships (such as being an owner or capitalist, or being a worker or proletarian) are the foundation upon which all other societal and political arrangements in society are based. The theory stresses that societies are divided into competing economic classes whose relative political power is determined by the nature of the economic system.
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. (December 2009)
This article is missing information about how Marx and Engles applied historical materialism in concrete cases and whether this makes the theory amount to a determinism. (June 2020)
This article is missing information about economic determinism outside of Marxism. (June 2020)
In the writing of American history the term is associated with historian Charles A. Beard (1874–1948), who was not a Marxist but who emphasized the long-term political contest between bankers and business interest on the one hand, and agrarian interests on the other.