WDW101Y1 Study Guide - Midterm Guide: Switching Barriers, Joseph Schumpeter, John Rupert Firth
16 Apr 2013
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Joseph schumpeter- capitalism is by nature a form of economics change that is never stationary. Not only because economics occurs in the social and natural environment which is always changing and therefore alters economics with it. And not only because of population increase is economic. But because the fundamental impulse that sets and keeps the capitalist engine running is the new goods and consumers, methods of production or markets and the new forms of organization that capitalist enterprise creates. He also argues that tech innovation was endogenous and causes creative destruction. Oligopolies are good because they actually make profit because they set prices, and this means they can use that money for innovation. Three ways in which politics influences er (relation of forces between union and capital: impact on organizational resources, impact o structure of wider public sphere in which conflict occurs, impact on structure and org of workplace.
