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Lecture 3

Reading summary week 3.doc

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Department
Social Science
Course
SOSC 1340
Professor
Kean Birch
Semester
Fall

Description
READING SUMMARY Name: Korosh Mehramfar Reading(s): Slater, D. & Tonkiss, F. (2001), the emergence of market society OUTLINE OF THE READING After having read the emergence of market society by Slater, D. & Tonkiss F. capitalism is a economic system whereas the countries trade is controlled by private owners and it allows them to get profit from the goods and services they offer to the rest of us. Capitalist began to conform in Europe specifically England in the 17 century before it fully developed in North America. To increase their profits they had to cut their costs of production mainly by pay of the workers, which is called division of labour. The competitive advantage of this was that firms and i
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