This question asks us to identify the features of capitalism as a social system from the given options. Let's analyze each statement to understand its relevance to capitalism.
Capitalism Features Analysis
We need to determine which of the listed points are characteristic features associated with capitalism:
- (A) Commodification of labour power: This means that labour, the ability to work, is treated as a commodity or product that can be bought and sold in the market. In a capitalist system, workers sell their labour power to employers (capitalists) in exchange for wages. This is a fundamental characteristic of capitalism.
- (B) Caste based networks of trading: Caste systems and associated networks are typically found in traditional or pre-capitalist societies. While informal networks can exist in any economic system, they are not a defining or essential feature of capitalism, which is primarily characterized by market-based exchange and competition, not rigid social hierarchies like caste dictating economic roles.
- (C) Surplus value: This concept, central to Marxist economic theory, refers to the value created by workers that exceeds the cost of their labour (wages). Capitalists aim to extract this surplus value, which forms the basis of profit. The extraction of surplus value is considered a core mechanism within capitalism.
- (D) Rising inequalities: Capitalism often leads to significant economic and social inequalities. Factors like private ownership of the means of production, profit motive, competition, and the concentration of wealth can contribute to disparities between different social classes. While debated, significant inequality is widely seen as a prominent outcome or tendency within capitalist societies.
Identifying Key Features of Capitalism
Based on the analysis:
- Statement (A) is a core feature of capitalism.
- Statement (B) is generally not considered a defining feature of capitalism.
- Statement (C) is a fundamental concept explaining profit generation in capitalism.
- Statement (D) describes a common and significant tendency within capitalist systems.
Therefore, the features of capitalism among the options provided are the commodification of labour power, surplus value, and rising inequalities.
Conclusion
The combination that correctly identifies features of capitalism as a social system is (A), (C), and (D).