CMNS 240 Lecture Notes - Lecture 2: Thomas Robert Malthus, Liberal Democracy, Wage Labour

• School: Simon Fraser University
• Department: Communication
• Course: CMNS 240
• Professor: Enda Brophy

Document Summary

Capitalism is a mode of production or an economic system. This is only one way to organize the economy. Capitalism is characterized by: private ownership and production for pro t, wage labour, market exchange and competition and competition between entrepreneurs, a money system operated through banks, some form of the state. There is no necessarily ink between liberal democracy and capitalism. Democracy can exist with capitalism however capitalism can exist without democracy . Pe emerges as a eld of inquiry the 17th century. Term political economy rs appears in france in 1615, used by antoine de montchretien in. Economics: from oikos, for house and gnomes, for law is classical greece. Political: comes from polis, the greek city-state. So pe literally means the managements of the household, and then the community. Xvi main purpose: how to keep the royal family rich. Xvii-xviii: how to increase national wealth or aggregate income. How wealth is being produced, distributed, etc. in early capitalism .