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Purdue SOC 10000 - Capitalism
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Soc 100 1st Edition Lecture 22 Outline of Last Lecture II. Marital satisfactionIII. Domestic ViolenceIV. EducationV. Higher EducationVI. Inequalities in SchoolOutline of Current Lecture VII. CapitalismVIII. CommunismIX. WorkX. Division of LaborCurrent LectureStart of Final Exam InformationChapter 14Capitalism- Two distinct featureso 1. Private ownership of property-Individuals own means of producing goods, freeto buy and sell propertyo 2. Competition in the pursuit of profit- producers competes to offer consumers goods and services at the lowest price.Communism- 1.Public ownership of property- 2. Government planningo Five-year state plans establish production quotas, prices, and other aspects of economic activityWork and EconomyThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- The economy is the institution that organizes the production, distribution, in exchange ofgoods and services- The primary sector includes farming, fishing, logging, and mining- In the secondary sector= raw materials are turned into finished goods; manufacturing takes place- In the tertiary sector, services are bought and soldWorking in America- Workers are more productive, yet job insecurity is high- As a result, many people are working longer hours, especially people at higher income levels, in order to prove loyalty or achieve marginal benefits- Creative classo A category of workers in many different occupations and industries united by the fact that creativity is central to their productive worko Fast-growing, well paid segment of the workforce, now in high demand- A brief history of capitalismo The feudal system came before capitalism in Europeo This system began to change as early as the fifteenth century with the enclosure movement, - Agricultural revolutiono About 10,000 years ago, people in Middle East and Southeast Asia, began to heard cattle and grow plants using simple hand toolso In the eighteenth century, new farming technologies led to an agricultural revolution that: Helped increase the population and the value of land Innovated manufacturing and transportation technology because of an increased labor pool to fill new jobs Also changed the way we did business- From barter to the use of a legal currency to buy and sell goods- From agreements between individuals to contracts b/t corporationsTheorizing the transition to capitalism- Adam Smith, was an economist who believed that:o Competition helps maintain cohesive societyo Specialization increases productivity and innovationo Using money, makes trading more efficient- Georg Simmel believed that:o Changing from piecework payment to wage labor to a salary would depersonalizeexchange.o This was a great way to separate public and private spheres and give workers more freedom to enjoy the private, or leisure, sphere- Karl Marxo Stated that capitalism creates alienation in workers- including alienation from products and workerso Predicted both that capitalism would ultimately destroy itself and the a the working class would rise up, leading to a period first of socialism and then of communism- Marx Webero Linked the rise of capitalism to technology, ideas and beliefs, as well as the Protestant Reformationo He thought people became obsessed with working and making money that they could never enjoyRecent changes in capitalism- In society, people actually earn less money compared to the early 1900s. This is becauseo Back then, men were ‘suppposed’ to worko Men were paid enough to provide for the whole familyo Unfortunately, the higher wage was at the cost of women’s freedom- Ford motor company’s idea of the family wage, was based on a very limited definition of family:o Favored married men with children, o The fact that women often been paid less than men, has served to deter them from seeing work as a lifelong choiceo The wage structure was one factor that made women see marriage as the only way to have financial securityRecent changes in capitalism- Compared to other industrialized countries, we work longer hours, and have fewer vacation benefits and less generous family leave policieso But family leave is unpaid, and don’t have to be guaranteed same job when you get back (for men)o Even when generous benefits are available, workers often do not take advantage of them, which suggests that work is central in the lives of AmericansRevolution in services- As productivity increases, service-sector jobs proliferate- By automating factory and office work, the computer accelerated this shift in the last of the 20th century- In the U.s today, more than ¾ of the labor force is employed in the service sector- Globalization- refers to the processes that create and intensify worldwide social exchanges and interdependencieso Creates an increase in trade and economic exchangeso Magnifies the division b/t the world’s rich and poorDivision of labor- The division of labor refers to the specialization of work tasks- The more specialized the work tasks in a society, the greater the division of labor- Bad jobso Don’t pay much and require the performance of routine tasks under close supervisiono Working conditions are unpleasant and sometimes dangerouso Bad jobs require less formal education- In a bad job, you can easily be fired - Good jobso Encourage you to be creative, in pleasant surroundingso They offer secure employment, opportunities for promotion, health insurance, and other fringe benefits- Deskillingo Refers to the process by which tasks are broken down into simple routines requiring little training to performo Deskilling, usually accompanied by the use of machinery to replace labor wherever possible and increased management control over workers- Part time worko Proportion of part time workers, increased 46% b/t 1957 and 1996o In 2004, a quarter of all ppl in the U.S paid labor force were part-timers, working less than 35 hours a weeko Make up 2/3 of people working at or below minimum wageo 1/3 of women classified as voluntary part-timers would work more hours if good child or elder care were availableo A difficult aspects of part-time work is maintaining self-respect, in the face of lowpay, few benefits, and low statusPrimary labor market- Composed disproportionately of highly skilled or well education white males- They are employed in large corporations that enjoy high levels of capital investmentSecondary labor market-


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