Final answer:
Criticisms of Marx's method to equalize the rate of profit include inconsistency due to variable capital values, impracticality in commodity exchange, and theoretical ambiguity regarding the timing for a socialist revolution. Despite the absence of a global revolution, Marx's theories on class conflict and societal change under capitalism remain significant in sociology.
Step-by-step explanation:
The criticisms of Marx's method to equalize the rate of profit across sectors include the following: Marx's method is inconsistent because he is not using social labor time as a measure of value, and because the value of constant and variable capital changes as prices of production change. Another criticism is that commodities such as "rice" and "steel" might not exchange at all, raising questions about the practical application of his theories. Furthermore, Marx's approach has been criticized for being theoretically ambiguous about when the material conditions for a socialist revolution were possible.
While Marx rejected capitalism due to its exploitative nature and predicted the collapse of the capitalist system followed by a proletariat revolution, it's important to note that social conflict leading to societal change remains a key theory in modern sociology. Marx's assessments of class struggles and the conflicts between different social classes over the means of production in the face of capitalism have enduring relevance.
Karl Marx's ideas about the negative aspects of capitalism, particularly the unequal distribution of wealth and power and the ensuing class conflict, led to the formulation of Marxism. Despite the absence of a global socialist revolution, Marxist theories continue to foster discussion on economic and social equality and the potential alternatives to capitalism.