S W 325 Lecture Notes - Lecture 3: Economic System
Document Summary
Chapter three: capitalism, class and the matrix of domination. Its appearance in europe and the americas occurred alongside the expansion of capitalism. Economic systems are the source of wealth and social institutions. The goal of capitalism is to turn more into more money. It doesn"t matter what you produce as long as you have somewhere to market and sell and end up with more profit than you started with. Doesn"t depend on any moral or ethical considerations. Workers are employed to produce goods and earn wages for their time. The cheaper something is produced, the more money you can make in return. The wealthiest top 20 households possess fifty-six percent of all income. Conditions of scarcity are produced for a good majority of the population. Most people have little power to improve their class. Capitalism connects to white racism indirectly and directly. In order to justify imperialism and oppression, whites developed the idea of whiteness and thus privilege was born.
