ENV222H1 Lecture : Lecture Capitalism

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ENV222H1 Full Course Notes
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ENV222H1 Full Course Notes
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Commodity-producing society ; manufacture of material goods is a dominant societal. Definition of capitalism from the bottomore reading: 79 goal, seen as an important way of achieving happiness. Means of production class : factories, farms, other things needed to produce material goods are owned privately, not by the state, and in general terms by the rich (but not exclusively) Labour power bought and sold ; they buy-sell contract, rather than feudal relations based in birth, is the main way of organizing production. Large corporations ; late 19th c. evolution to market control by large firms (private organizations: 80 . Increased state intervention ; evolution to co-dependency large firms and large governments (public organizations) Keynes; evolution to belief, put in practice after 1945 that governments could and should influence economic growth welfare state; the expansion of the state after 1945: 81 .

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