SOCY 101 Lecture Notes - Lecture 45: Employee Stock Ownership Plan, Decentralization, Price Gouging
Document Summary
3 revolutions (refer to book: agriculture, industrial, technological. A group of people who secure their wealth. Production is taken over by more complex businesses: primary production - extracting raw materials from nature. Prior to industrial: secondary production- converting raw materials into products for mass consumption. Mass assembly lines: tertiary production- social services. Distribution taken over by government: bartering- primary form of distribution. Money became central for distribution process: government- post industrial. Bartering and market systems become less efficient at distributing to country"s most vulnerable places. Market systems fail at getting resources where they are needed. Redistribute the resources that were not equitably distributed in a market system. Society way too complex and diverse for market systems to be perfect. Consumption: the family is the economic system. Send children and family members out to get raw materials. Exchange through bartering and consume as a family. Types of economic systems: who owns and controls the means of production.
