Class Notes (838,036)
Canada (510,626)
Sociology (2,090)
SOC1101 (756)
Lecture 11

Lecture 11 - Capitalism.docx

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Willow Scobie

Lecture 11 Capitalism Monday, October 28, 2013 Analyzing Social Class - Marxist Terms: o Social class reflects position to the means of production o Owning Class (Bourgeoisie) o Working Class (Proletariat) - Contemporary description: o A large group of people who occupy a similar economic position in wide society Dynamics of Power - Class is relational o Relationship needs to be there for there to be a distinction - Classes are structurally in conflict o Do not have the same interest - Classes are not monolithic o Not the same as each other o Complex, diverse - Can change in time - Linked to power - Have global context o Experienced differently across the world o Ex. The poverty in Ottawa doesn’t compare to the poverty experienced in other parts of the planet Canadian Wealth Distribution - Between 1976 and 2009 o Earning gap between lowest 20% and highest 20% grew from $92, 300 to $177, 00 o In the same period, everyone except the richest 10% has seen their work time increase - Between 1997 and 2007, top CEOs in Canada saw their salaries increase by 444% - By the end of 2009, 3.8% of CAN households controlled $1.78 trillion - The rich are getting richer, the poorer are getting poorer Capitalism - Way of organizing economic life - Distinguishing life o Private ownership of the means of production o Profit as incentive o Free competition  For markets to sell goods  Acquire cheap materials  Use cheap labour - Restless expansion - Investment to accumulate capital - Capitalism spread with the growth of the Industrial Revolutio
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