SOCA02H3 Lecture : SOCA02 Notes Feb 26.docx
Document Summary
Key: market produces all sorts of benefits but it must be controlled or else . What institution is most affecting our lives? (global) free market. Won a total victory: virtually unchallenged. Wealthy is better: think of examples. Must be controlled or runs amok & destroys society. Globalization brings savage capitalism: or roulette capitalism. Communism never produce enough to have a crash . Pre-market societies (hence market is not universal!--this is important) Exchange based on moral economies : sharing, potlatch, gift giving, fair price. By virtue of membership in community: examples: welfare, education, health care, atmosphere, (public goods/ the commons", gift-giving (potlatch) May or may not imply reciprocity: hard to get back more than you give, examples: christmas (gifts), volunteer, organ/blood donations. Destroy goods: examples: agriculture, fair price exchange. Magistrates: food riots if violate exchange expectations, set at a specific price to maintain market.
