SOCI 1F90 Lecture Notes - Lecture 6: Labour Power, Living Wage, Social Inequality
29 Feb 2016
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Document Summary
Lecture 6 work and the political economy. The characters are happy to exploit in pursuit of profit (how is this justified?) Money as a commodity to exchange in the market. We sell our capacity to work (known as labour power) Capitalism appears as common sense and hegemonic. We believe that capitalism is the only way to organize ourselves. None of them are natural or objective things that exist outside humans. We do not have too keep it if we do not want it anymore. The means of production are in very few hands and the rest of the population must sell their labour power in order to survive in the economy. 8. 6% of the global population own 80% of the global wealth. Less than 1% of the global population own 44% of the global wealth (anticipated to own 50% by next year) 70% of the population own less than 3% of the global wealth.
