BUS 1050 1nd Edition Lecture 10Outline of Last Lecture I. Emmerson ConclusionOutline of Current Lecture II. MarxIII. TawnyCurrent LectureTest Review Thursday, 9th. Test possible on 20th after Fall break.Why capitalism is the best system of development and enrichment?-Capitalism (Emerson)------------------- Commodity, use value, exchange value, labor value-Private Ownership (Conwell)-Needs/Wantsbourgeois vs proletariat (slave labor, serf labor, wage slavery).Bourgeois – merchantCarnegie introduces negotiation. Marx argument. (communist manifesto of communism)Soviet Union used communism to create dictorial fasicious state. Proletarial wanted workers to have more of an opinion and negotiation.DAS CAPITAL. Goods have a good use value by animating goods. Example of communist state- Moscow, Russia. Moscow decides pricing, unit production, units owned. Capitalism - Socialism- Communism-AnarchyPeople, if left alone, will choose democracy.Exchange value is a quantitative value for usage. A relation changes with time and place.P175. L92. Labor is an essential aspect of the value of commodity.These 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 value of the commodity remains constant until the productiveness of labor.Labor as an average of worker’s production.P176. L 94. The more productive we are with labor, the more produced. Ex. Assembly Line.More time put into product, more valuable.L 79. Labor value is not as respected in modern day. End of Marx, intro to Tawny“Socialism without blood” FabianismFabians want states to get involved.Historical period from 500BC to 1500BC. (Catholic Period)Page 182. Social Structure in detail.Social structureMonarchy-> Church-> Aristocracy-> Landed Gentry/guilds-> craftsmen-> serfsSerfs and landed genry may become craftsmen)labor+materials = just price (may not add profit
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