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Sosc 1340 - Lecture (Jan 20 2012).doc

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Social Science
SOSC 1340
John Simoulidis

thSosc 134020 janlecture this prejudice against bankers has prove dangerous Without money to grease them the wheels of commerce turn slowly or not at allthe rise of banking has often been accompanied by flowering of civilization the economist jan 7 2012 pg 60the bank the fiftythousand acre owner cant be responsible Youre on land that isnt yours ownermanmaybe theres nobody to shoot Maybe the thing isnt men at all maybe like you said the propertys doing it Joe Davis son the tractor driver Creative Readings Steinbeck Rice and Garret The rest are social scientificLecture Introwhat do the creative readings tell us about the relation between business and societyweaving biography into historymillsill be using concepts drawn from past readings to analyze these creative readingsexternalities unemployment environment degradation individual identity2 logics of value market value vs social value Look upthe great depressionthe dust bowl Historical Context The Great DepressionUS States response after the 1929 stock market crash informed by dominant economic theoryeconomic results Output fell by 30 unemployment hit 2530 bankruptcies soared particularly among farmers in American prairiesEconomic crisis intensified by the Dust BowlCritical AnalysisLiteral Reading a story about tenant farmers the Joad Family being kicked off the land during some hard times in OklahomaHow is the story told Whats a sharecropper Tragedy not simply as unhappiness but as the ruthless working out of a chain of eventsSymbolism the corporation as monstera parable of enclosures kicking farmers off the land to add them to the reserve army of labour the rest of the tragedy unfolds in CaliforniaProfit Maximizationwhat is the bank doing and whyBanking is evicting tenant farmers from the land because it has found a more profitable way to use it one man on a tractor can tar the place of 12 to 14 families Pay him a wage and take all the crop p 34tractor technology the cause of dispossessionwhy cant the bank wait until the drought is overthey breathe profits they eat the interest on money p 33
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