SOCI 100 Chapter Notes -Information Revolution, Terrorism Acts, Elite

26 views11 pages
Published on 17 Apr 2013
School
UBC
Department
Sociology
Course
SOCI 100
Page:
of 11
4/16/2013 10:49:00 PM
Chapter 12: Economics and Politics
Economics and politics are social institutions, a major sphere in social life,
or societal subsystem, organized to meet human needs.
The Economy: Historical Overview
Economy social institution that organizes a society’s
production, distribution and consumption of goods and
services
The Agricultural Revolution
Animals as plows development of agriculture
More productive than hunting and gathering
Resulted in surpluses not everyone had to produce food anymore
Resulted in specialized work making tools, raising animals,
building dwellings
Towns sprang up linked by network of traders
Four factors: agricultural technology, specialized work,
permanent settlements, trade
The Industrial Revolution
Changed the economy in five ways:
New sources of energy steam engine (James Watt) heavy
machinery
Centralization of work in factories moved work from home to
factories
Manufacturing and mass production turn raw materials into
finished products
Specialization repeated single task over and over, small individual
contributions to finished product
Wage labour sold their labour to strangers instead of working for
themselves
Production of countless new products raised standard of living
Unequally shared benefits of industrial technology
The Information Revolution and Post-Industrial Society
Post industrial economy productive system based on service
work and high technology
Automated machinery reduced role of human labour
Post industrial era marked by shift from industrial work to
service work
Driving change: the computer
New kinds of products and new forms of communication
Three Major Changes:
o From tangible products to ideas work involves manipulating
symbols
o From mechanical skills to literacy skills speaking and writing
well + using computers
o From factories to almost anywhere allows people to work
from anywhere; high interconnectedness: ―virtual office‖
Blurs the line between work and home life
Sectors of the Economy
Primary sector
o Part of the economy that draws raw materials from the
natural environment
o Agriculture, fishing, forestry, mining largest in low income
nations
Secondary sector
o Part of the economy that transforms raw materials into
manufactured goods
o Refining petroleum into gasoline, turning metals into cats
o Globalization of industry all of the world‘s countries derive a
share of their economic output from the secondary sector
o Accounts for greater economic share in low income nations
than in high
Tertiary sector
o Part of the economy that involves services rather than goods
o Grows with industrialization
o Dominates economies of middle income and high income
countries
o Clerical jobs, positions in food service, sales, law, healthcare,
teaching, etc.
Economic Systems: Paths to Justice
Capitalism An economic system in which natural resources and the means
of producing foods and services are privately owned
Justice = freedom of the marketplace anyone can produce, buy
and invest according to self interest
Businesses are privately owned
Three Distinctive features:
Private ownership of property
o The more capitalist an economy, the more private ownership
there if of wealth producing property factories, real estate
and natural resources
Pursuit of personal profit
o ―natural‖ way of doing business
Competition and consumer choice
o Free market system with no government interference
o Consumers guide the market economy
Socialism An economy system in which natural resources and the means of
producing goods and services are collectively owned
Justice = not competing to gain wealth but meeting everyone‘s
basic needs in an equal matter
Three Distinctive features:
Collective ownership of property
o Limits rights to private property especially ones that are
used to generate income
o Government controlled
Pursuit of collective goals
o Entrepreneurial spirit greedy, individualistic
o Encouraged to work for the common good for all
Government control of the economy

Document Summary

Economics and politics are social institutions, a major sphere in social life, or societal subsystem, organized to meet human needs. Economy social institution that organizes a society"s production, distribution and consumption of goods and services. Animals as plows development of agriculture. Resulted in surpluses not everyone had to produce food anymore. Resulted in specialized work making tools, raising animals, building dwellings. Towns sprang up linked by network of traders. Four factors: agricultural technology, specialized work, permanent settlements, trade. New sources of energy steam engine (james watt) heavy machinery. Centralization of work in factories moved work from home to factories. Manufacturing and mass production turn raw materials into finished products. Specialization repeated single task over and over, small individual contributions to finished product. Wage labour sold their labour to strangers instead of working for themselves. Production of countless new products raised standard of living. Post industrial economy productive system based on service work and high technology.