Final answer:
The term 'proletariat' refers to the working class who sell their labor for wages and do not own the means of production in a capitalist society, according to the theories of Karl Marx.
Step-by-step explanation:
The word 'proletariat' refers to the class of people who sell their labor and are typically known as the working class or the powerless majority in a capitalist society. These are individuals who do not own the means of production and only possess their labor power, which they sell to survive. Rather than a group of rich people living in the hills, workers living near their workplace, people living in the valley, or a group of people working in the town, the proletariat are landless workers who depend on wages earned from working in factories and businesses owned by the bourgeoisie, who control industrial production. Based on the writings of Karl Marx, the proletariat class experiences alienation and oppression in a capitalist society, where their labor is exploited by the capitalists for profit. This exploitation results to a stark division between the wealthy bourgeoisie, who own the means of production, and the proletariat who perform manual labor under often difficult conditions for minimal pay. As capitalism advanced, the number of proletarians increased while other classes diminished. The concept of the proletariat is fundamental in Marxist theory and critique of capitalism.