Class Notes (839,626)
Canada (511,431)
Sociology (2,434)
SOCA02H3 (398)

SOCA02 - Week 7 - February 28, 2013

6 Pages

Course Code
Sheldon Ungar

This preview shows pages 1 and half of page 2. Sign up to view the full 6 pages of the document.
SOCA02 – Week 7 – February 28, 2013 Economies – An Historical View What institution is most affecting our lives? - (Global) free market - Won a total victory o Virtually unchallenged  End of communism  Socialism? (State) o Era of “globalization”  States under poverty are forced to go into structural development programs  Fight climate change/ pollution Positive Effects of Free Market - Most productivity and wealth ever - Wealthy is better o Better for health, family, society - Market linked to democracy Costs of the Market - Must be controlled or runs amok and destroys society - Globalization brings “savage” capitalism o Or roulette capitalism Communism - Never produced enough to have a “crash” o Gave free education, and medical attention o Never had “Harvards” or hospitals compared to Western Societies Pre-Market Societies – Hence Market not Universal - Exchanged based on “moral economies” o Sharing o Potlatch, Gift giving o Fair Price - Key Motivator o Status in the group Types of Exchange - Sharing o Small- scale  No one owns anything, relatively poor, everything is shared o By virtue of membership in community  Public Goods  Ex. Healthcare, University (Germany),  The ‘Commons”  The things we have to share o The ocean, air, - Gift- Giving (Potlatch) o Give to attain status  May or may not imply reciprocity  Hard to get back more than you give o Ex. Charity, Engagement Rings (2-3 months salary) , Pot Luck Party o Destroy goods  Destroying crops, animals  Bankers Potlatch  Rockstars – Destroying guitars - “Fair price” Exchange o Fixed Prices  Tradition  Magistrates  Food riots if violate exchange expectations Economy Embedded in Social Life - Social life determines economy What is the Market? - Exchange controlled by market forces o “invisible hand”  Competition of supply and demand - Enter freely and equally into exchanges - Everything is treated as a commodity o Land o Labour Market Theory - Possessive Individualism o Are inherently greedy  Seek to accumulate as much as possible - Inevitable, universal and rational Dance of Commodities Creates an Ecological Catastrophe - Peasants (etc.) fight to keep markets at arms length o Restrict and Limit it o Low status of merchants  Merchants in Ancient China were expropriated, they weren’t like o Food Riots Look at Social Consequences of The Free Market - Runs amok - Need to control it (not easy) o Ex. Depression (1929) Social Life Embedded in Economy - Economy  Society Contradictions: Labour as Commodity - Is
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


Join OneClass

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

Sign up

Join to view


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.