POLISCI 111 Study Guide - Quiz Guide: David Graeber, Neocolonialism, Walt Whitman Rostow

• School: UMASS-Amherst
• Department: Political Science
• Course: POLISCI 111
• Professor: Alyssa Miraj- Grahame

Document Summary

De nition of market: a particular form of production/distribution based on exchange and surplus value! origins, who bene ts, role of state, evolution of markets, other! Role of state: promote interests of the capitalist class/bourgeoisie! Evolution of markets: will collapse under own contradictions! Role of state: state = framework for invisible hand theory to guide growth! Who bene ts: middle classes in protestant countries ! Evolution of markets: no longer need protestantism to justify accumulation > Polanyi view of markets! is more productive! dislocation! Who bene ts: rich and bourgeois bene t > poor face dislocation but market economy. Evolution of markets: depends on double movement / state"s ability to manage social. B/c market price - wage labor = yield/pro t (a surplus)! The cycle of capital accumulation! primitive accumulation > leads to cycle: money, capital, surplus value, capital, repeat! Heaven and hell is chosen at birth, so what you do doesn"t matter!