Class Notes (839,081)
Canada (511,183)
Sociology (765)
SOCI 100 (167)
Lecture

Class 58-60 Economics and Politics

5 Pages
119 Views

Department
Sociology
Course Code
SOCI 100
Professor
Debra Pentecost

This preview shows pages 1 and half of page 2. Sign up to view the full 5 pages of the document.
Description
In Class (58) Notes 02-25-2013 Economics and Politics Economy  Social institution  Organizes production, distribution and consumption of goods and services Historical Overview: Economy  Agricultural Revolution o 5000 years ago – harness animals to ploughs o Generate surplus o Economy as distinct social institution  Agricultural technology  Permanent settlements  Trade  Specialized work  Industrial Revolution o New sources of energy – 1765 steam engine o Work centralized in factories o Manufacturing and mass production  Information Revolution and Postindustrial Society o 1950 begins in Canada o Based on service work and high technology o Automated machinery + robotics + computer How has work changed in Canada?  From tangible products to ideas o Industrial era: production of goods o Postindustrial era: manipulation of symbols  Shift from mechanical to literacy skills  Centralization of factories  decentralization of work afforded by computers Sectors of the Economy  Primary – draws raw material from natural environment  Secondary – transforms raw materials into manufactured goods  Tertiary – involves services rather than goods Global Economy 5 Main Consequences:  Global division of labour  Products pass through more than 1 nation  National governments no longer controlling economic activity within borders o Cant regulate value of currencies o Currencies traded in financial markets  Small number of businesses control large amount of world’s economic activity  Well being of workers worldwide threatened Economic Systems: Paths to Justice  Every society’s economy makes a statement about justice since it determines who gets what Capitalism and Socialism: Two ends of continuum  Capitalism o Private ownership of property o Pursuit of personal profit o In purest state: Free Market System  No government interference  Laissez-faire economy  Adam Smith: economy regulated by laws of supply and demand – “invisible hand”  See Controversy and Debate Box p. 316  Socialism o Collective ownership of property o Pursuit of collective goals o Government control of the economy “Justice” in any of these systems  Capitalism – market freedom to produce, buy and invest according to self- interest  Socialism – freedom of basic want – meeting everyone’s basic needs in more- or-less equal manner Economic Form Along Continuum  Welfare capitalism – ex. Canada + several European countries o Mostly market-based economy plus extensive social welfare programs o Government owns some of the largest industries and services o Extensive government regulation Present: Economic Globalization – Neoliberal Ideology  Powerful corporations + G8 + (World Trade Organization, International Monetary Fund, World Bank) o US, Britain, France, Germany, Italy, Japan, Russia, Canada o Expanded to G20 Alternatives: South of the Border MySocLab: Stratification + Shifting Power  Number of countries in South America heading i
More Less
Unlock Document

Only pages 1 and half of page 2 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit