Who does the term bourgeoisie refer to in Marxist theory?

The term bourgeoisie in Marxist theory refers specifically to those who own the means of production. This class is characterized by its control over factories, resources, and capital, which allows them to produce goods and services in a capitalist economy. In Marx's analysis, the bourgeoisie is fundamentally positioned as a class that stands in opposition to the proletariat, or working class, who are those that sell their labor in exchange for wages. The bourgeoisie's ownership and control of production create power dynamics that influence societal structures, including class relations, economic systems, and political power. By understanding this context, it becomes clear that the bourgeoisie plays a crucial role in the functioning of capitalism and the perpetuation of class inequalities, which is a central theme in Marxist critique.