SOCA02H3 Lecture Notes - Scientific Management, Fitch Ratings, Overselling

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Soca02 week 7 february 28, 2013. What institution is most affecting our lives? (global) free market. Won a total victory: virtually unchallenged. States under poverty are forced to go into structural development programs. Wealthy is better: better for health, family, society. Must be controlled or runs amok and destroys society. Globalization brings savage capitalism: or roulette capitalism. Never produced enough to have a crash : gave free education, and medical attention, never had harvards or hospitals compared to western societies. Exchanged based on moral economies : sharing, potlatch, gift giving, fair price. No one owns anything, relatively poor, everything is shared: by virtue of membership in community. The things we have to share: the ocean, air, Gift- giving (potlatch: give to attain status. Hard to get back more than you give: ex. Charity, engagement rings (2-3 months salary) , pot luck: destroy goods. Exchange controlled by market forces: invisible hand . Everything is treated as a commodity: land, labour.

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