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SOCB42H3 (199)
Dan Silver (131)
Lecture

Lecture 3

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Department
Sociology
Course
SOCB42H3
Professor
Dan Silver
Semester
Fall

Description
SOCB42 Lecture 3MidtermSaturday November 6 2010911 am Rooms BV340 355 and 3631Money and markets2Distribution of wealth original state inequality conflict3Historical causes of wealthMoney and Markets Why does money existSmith it facilitates exchange makes trade work betterSelect a single commodity Moneywhatever anyone will accept in a tradeBartering is not efficient limited use because what you have the other person may not wantneedAbstract quality that allows to meet a functionSalt cigarettes gold livestock were used as currencyWhat qualities make money work wellIt lasts salt dissolves in rain cows dies etcDivisible can only trade a whole cow This is why metal is best for moneyMetal serves the function of money very well functionalist theorymust work serve purposePaper money is also usefulConsequences of the introduction of moneyTwo ways of value smith pg 41Use value value you get out of using something walk with cows milk cows hamburgersExchange value value you get from trading selling an object The use value has no purpose
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