SOCL 100 Study Guide - Midterm Guide: Egalitarianism, The Shame Of The Nation, Capital Accumulation
Document Summary
Capitalism: private ownership of the means of production, pursuit of profits, competition, capital accumulation, laissez-faire policy by governments. Ford pinto madness 80 deaths- 200,000, 180 injured 67000, 2100 vehicle damage. Socialism: public ownership of the means of production, central planning (eliminate competition, distribution of goods without profit motive, egalitarianism (equality) Industrial society: machines over hand tools, assembly lines:division of labor, wage labor, separation of work form home, emergence of cities. Post-industrial society: expansion of service economy, hyper-automation and computerization, duality of labor qualifications (super-skilled or little-skilled, lifestyle diversification. Anti-monopoly: manufacturers can not be the only company making product. Impact of wal-mart: manufacturers and workers, local communities and businesses, employment statistics, china, consumers. Caste system - social stratification that separates people into different classes. Absolute poverty - absence of basic needs in life. Relative poverty - inability to live up to the standard of living considered desirable within a community.
