SOC 111 Study Guide - Final Guide: Elite, Global Warming, Neoconservatism

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Document Summary

Mode of production: how we produce and exchange the necessities of life; Forces of production: labor force (who and division of labor, tools and technology, nature. Relations of production: who owns and controls the mean of production ( social ownership, private ownership, personal and private property, who works and who does not work, source and size of wealth and how it"s distributed. Our mental and physical capacity to work. Workers legally free to sell labour power in marketplace. Exchange value: wages ( determined by 1. cost of means of survival of the worker 2. Cost of means of survival of worker"s family 3. cost of worker"s training=> cost of labor power to produce labor power and the commodities needed by family= wage) Workers work m of p for the owners. Keeps only small part of value of what is produced. Exploitation: do not have control over the product of your own labor. Concentration of capital: capital in fewer and fewer hands.