SOSC 1000 Lecture Notes - Lecture 6: Marilyn Waring, Creative Destruction, Mercantilism
1 Dec 2013
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Economists are unhappy when they have to examine variables that are not easily measured by something like a price -ernest schusky. Heilbroner, twenty first century capitalism life is about accumulation, accumulate more more more. Capitalism is insatiable, human beings are creatures of greed, we want more & more. Capitalism is dynamic, it"s all about change. Nothing has ever produced wealth like capitalism. All that is solid melts into air, all that is holy is profaned. Adam smith wrote in the wealth of nations that the division of labour locks the the productivity of labour goes through the roof. Capitalism is disembedded: the economy becomes disembedded from society. Economic life was embedded within society: it was viewed with distrust with most of the mocers and shakers of society. There is no economics in traditional societies; only with the arrival of the economy is something distinct. Capitalism simultaneously produces wealth and misery (karl marx)
