Economics of mode of production

Society refers to a group of people having their own way of living, culture, tradition, convention, norms and the like. Now the question is how such society has emerged. With the advent of Neolithic Revolution and the rise of agriculture leading to a food surplus, private property, inequality and the emergence of class distinction a transition from a primitive classless society to a slave society occurred. Subjugation of some people by others created a society where the control of a dominant class over a labouring class became the primary mode of production. The economy in a slave society was characterised by large scale production of agricultural output using unpaid labour of enslaved people. The feudal mode of production was characterised by a small class of landlords owning land and extracting surplus labour and crops from peasants in exchange for protection and use of small plots of land. A hierarchical social structure of lords and serfs had been created and lords used political and legal power to exploit peasants. The capitalist mode of production relied on commodity production for market exchange with private ownership of the means of production by a small class of capitalists who hired wage labourers to generate profit and accumulate capital. Instead of being ruined by its own crises capitalism has now revived through the introduction of democracy. A tendency has been developed to make some benefits available to targeted group of people who are selected not on the basis of their need but on the basis of the need of the patrons of capitalism. Here arises the capitalist-ruler nexus feeding each other and finding the way to revitalise capitalism. Democracy acts as a crucial instrument in this regard. In a nutshell democracy has become a weapon to keep capitalism out of crises and in the process capitalist-ruler nexus is quite visible and they feed each other in their operations. We the common people of the society have turned into helpless silent spectators of capitalist exploitation surrendering our voice to created obligations or becoming helpless shading tears. Mass upheaval through proper education is the only way out. This present paper seeks to analyse the process and make some concluding observations.