SOSC 1340 Study Guide - Global Governance, Keynesian Economics, Feudalism
21 Dec 2013
School
Department
Course
Professor
Document Summary
Staple economy economy reliant on trades of staple industries commodity. Feudalism*** to the shift to capitalism, look at the reading superpowers ted nace, certain corporations came up b/c of this, modern vs classical corporations. The existence of negative and positive aspect. Visible hand free market (market forces control economy) capitalism. Adam smith people act out of self-interest, self-interest guides the economy. Fictitious1 commodity are not produced for sale, market price also represent income, 3 of them are money, labour and land. Neo liberalism (not on test) markets, has do with free markets that are regulated a certain perspective on the world. Convergence / dual convergence when items converge they become more like each other, when they diverge, they become less like each other. Whether or not international regulations and political systems are converging or diverging. Proto-industrialization - the process/stage between feudalism industrialization leading up to industrialization.
