LABR 1F99 Lecture Notes - Lecture 3: Small Business, Economy Class, Wage Labour

• School: Brock University
• Department: Labour Studies
• Course: LABR 1F99
• Professor: Simon Black

Document Summary

All economies require work to be done to produce the material needs of their survival and things we want for a full, enjoyable life. Our economy today does that in a particular way . Profit motive competition freedom of contract free enterprise. Innovation drive to develop new technologies, production processes and. Growth resulting from desire of each individual company to make more. Economic cycles periods of strong growth followed by periods stagnation. A general conflict of interest b/w those work for wages and the employers. Deep inequality b/w those who own successful companies and the rest of products in order to succeed in competition society who do not own companies profit. Characteristics of capitalist economies who hire them or depression. A capitalist society beyond the economy and become social norms sold. Commodification turn everything into an object which can be bought and.