SOC 1020 Lecture Notes - Lecture 4: Nazi Human Experimentation, Institutional Review Board, Market Socialism

• School: University of Iowa
• Department: Sociology
• Course: SOC 1020
• Professor: Michaela Ruppert

Document Summary

Overall: consider effect of research on lives of those you study. Feudalism - people are tied to the land (key economic resource): different people have different rights to the land. Subsistence economies - people own the means of production, and they produce enough just to exist (direct consumption) Simple market economy - everybody owns some means of production (enough to exist), and then exchange is focused on extra. Socialism - state owns the means of production, and then everything is distributed equally to everyone else. Market socialism - firms are owned by employees. Not identical to the idea of a market economy, but builds off of it. Form of a market economy in which production and investment are privately controlled, and the work of the production is performed by employees who are hired from free labor markets. Types of capitalism (five general types) - they types overlap and all continue to coexist today.