SOC 507 Lecture Notes - Lecture 11: Dharma, Class Conflict, Oligopoly
29 Dec 2020
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Document Summary
Sociological approaches: order theorists (functionalists): social inequality is, change theorists (conflict): social inequality inevitable, natural; survival of the fittest constructed in every society and historical era; based on relations of power. World economic systems: all relationships in the world are created by us humans. Inequality with gender, race, ethnicity, indigeneity, citizenship, in canada"s capitalist system. Capitalism: capitalists and workers have unequal exchange: Capitalists organize production to maximize profits and benefit the most. Workers sell their time, labor, in order to survive and live: capitalists try to extract the most work for least amount of pay (exploitation) Capitalism and industrialization: creating new technology, new machinery, extraction of resources from colonies, exploitation of workers labor. Family capitalism children: wealthy people pass on their wealth to their, the majority of wealth isn"t generated from hard work, the majority of wealth is passed on through family generations. Corporate capitalism: monopoly: one corporation has exclusive control, oligopoly: several companies control an industry over a market.
