SOCA01H3 Lecture Notes - Internal Combustion Engine, Oligopsony, Knowledge Base
Document Summary
Industrialization: dominant form of production in capitalism, use of new forms of energy: water, steam, internal combustion, nuclear (manufactory production uses only human and animal energy), machine technology, large-scale (mass) production. Increasingly detailed division of labor, therefore increasing use of unqualified, cheap labor: women and children. Increasing productivity of labor: the amount of goods a worker produces in a unit of time. Honesty is the best policy only true in early capitalism and only true in small markets, since there will be constant communication, good reputation for many generations. Corporate capitalism: naiman: monopoly capitalism, a corporation is a legal entity (naiman: legal fiction) distinct from the people who own or control it. Invented for protection of owners from poor economic performance: concentration of ownership continues: increased size and decreased number of enterprises. The coming of post industrial society: technology will eliminate repetitive and hard work, and increase highly skilled.