Modes of Production Theory

The Modes of Production Theory explains how societies organize their economic activity and resources to produce goods and services. It identifies the key components—such as means of production (land, tools, factories) and social relations (ownership, labor). Different historical societies have had different modes, like feudalism, capitalism, or socialism, each with distinct ways of managing resources and class relations. Understanding these modes helps explain societal structures, class dynamics, and historical change, revealing how economic systems shape social life across different periods and cultures.