Class Notes (860,737)
CA (521,239)
UBC (12,476)
SOCI (765)
SOCI 100 (167)
Lecture

Economics, Politics and War

3 Pages
70 Views

Department
Sociology
Course Code
SOCI 100
Professor
Debra Pentecost

This preview shows page 1. Sign up to view the full 3 pages of the document.
Description
Feb 27, 2013 Economics and Politics Economic Systems: Path 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 Competition and consumer choice o In purest state: free market system  No government interference  laissez-faire economy o Adam Smith: economy regulated by laws of supply and demand -- "invisible hand" - Socialism o Collective ownership of property o Pursuit of collective goals o Government control of economy "Justice" - Capitalism o Market freedom to produce, buy and invest according to self-interest - Socialism o Freedom of basic want -- meeting everyone's basic needs in a more-or-less equal manner Economic form along Continuum - Welfare capitalism (e.g. Canada + several European countries) o Mostly market-based economy + extensive social welfare programs o Government owns some of the largest industries and service (Crown corporations) o Extensive government regulation Present Economic globalization and Neoliberal ideology Powerful corporations + G8 (US, Britain, France, Italy, Japan, Russia, Canada) -> expanded to G20 + World Trade Organization, International Monetary Fund, World Bank Corporations - "Core of today's capitalist economy" - Characteristics: o Economic concentration (Exxon, Walmart, GM, BP, Nestle, PepsiCo) o Conglomerates -- involvement in many parts of the economy (ie. General Eclectic didn't only do electricity and appliances, they produced nuclear energy and weapons) o Corporate alliances + Interlocking directorates o Monopolies (single player dominating a sector) and oligopolies (a few players who dominate a secto
More Less
Unlock Document
Subscribers Only

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
Subscribers Only
You're Reading a Preview

Unlock to view full version

Unlock Document
Subscribers Only

Log In


OR

Don't have an account?

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