SOC101Y1 Study Guide - Midterm Guide: Keynesian Economics, Post-Fordism, Social Mobility
Document Summary
Soc207h midterm lecture notes: definition: accumulating and processing society resources. In an industry society, sources of energy like fuel, coal, electricity are used in a production system: also uses technology to process raw materials, egypt would be a pre-industrial society. Capitalist production system: relationships between individuals in the system, small numbers of individuals (capitalists) who own the means of production. Capitalist industrialization: work for capitalists, small number of people own and control the process of creating goods and services and the majority of people work for them for a wage. Feudalism: producer is also the consumer; the idea of selling labour for wage didn t exist, borrowing and lending were considered sinful, pre-capitalist economy: wage-labour rare idea of selling one s labour work for a wage. Industrial capitalism (early 1700s: home-based outputting system. Produce things at homes and give them to merchants and merchants sell them: cottage industry, factory system, steam engine created.
