SOCB42H3 Lecture : lecture
Document Summary
Commercial society: a society in which the division of labour is highly developed. Every man thus lives by exchanging, or becomes in some measure a merchant, and the society itself grows to be what is properly a commercial society (pg. In a commercial society we are all merchants making trades all the time. What are the rules: of trading and exchange. Limits of bargain: not a very efficient way to do exchange. The only way we can make trade is by barter. I have a bunch of cows and you have pigs, and i want pigs but you don"t want cows then there is no way we can make it work with an easy exchange. If that"s the situation were not going to get markets developing, it will only be exchange. In terms of barter- you always have to find people who want what you are willing to give. Money: is anything everybody will accept in a trade.
