SOCB42H3 Lecture Notes - Work Ethic, Labour Power, Free Education
Document Summary
Propensity to trade --> markets -> division of labour --> skilled labour + Propensity to better condition --> saving --> capital accumulation --> higher proportion of productive. = both create national wealth --> all that together creates commercial society. All you had to assume was both these 2 natural tendencies are innate in humans. There is logic to these tendencies; these propensities are universal. This is a simple model creating a complex theory. Basic feature of our society is that everybody is a merchant or traders whether or not we like. If we couldn"t exchange, we wouldn"t be able to move on. Why does money exist: limits of barter. It"s very restrictive and doesn"t allow society to develop very much: money is the answer; money is whatever everybody wants. It could be any physical aspect (for example, salt, cigarettes. It"s an abstract concept/principle: a) something that lasts b) if it is divisible.
