Who theorized that the conflict between workers and owners is a fundamental aspect of economics?

The correct answer is rooted in Karl Marx's analysis of economics and society. Marx argued that the relationship between workers (proletariat) and owners of capital (bourgeoisie) creates inherent conflicts due to their opposing interests. He believed that workers seek fair compensation and better conditions, while owners aim to maximize profits, often at the worker's expense. This foundational conflict, according to Marx, is critical in understanding the structure of social relations within capitalist societies. He posited that this struggle leads to class struggles and ultimately, historical change.

In contrast, the other theorists do not emphasize this conflict in the same way. John Stuart Mill focused on utilitarian ethics and the importance of individual liberties rather than class conflict. Henry George is known for his views on land taxation and wealth inequality, but his theories do not center specifically on the inherent conflict between workers and owners. Friedrich Hayek emphasized the importance of free-market capitalism and the dangers of government intervention, rather than class conflict in economic systems. Therefore, Marx’s perspective offers the most cogent explanation of the economic conflict between workers and owners, making it the correct choice.