CapitalismAccording to Karl Marx, people’s labor is sold on a market which allows for the accumulation of capital by a small number of individuals; this creates contradictions since capital becomes over-concentrated, which leads to disruptive financial and ecological crisesCapital AccumulationTendency in capitalism for profits, capital goods, savings, and value to flow towards, pool in, and/or accrue in specific places, leading to the centralization and concentration of both money and power.Carrying CapacityThe theoretical limit of population that a system can sustain.Coase TheoremA thesis based in neoclassical economics, holding that externalities (e.g., pollution) can be most efficiently controlled through contracts and bargaining between parties, assuming the transaction costs of reaching a bargain are not excessive.CommodityAn object of economic value that is valued generically, rather than as a specific object (e.g., pork is a commodity, rather than a particular pig). In political economy and Marxist thought, an object made for exchange.CommodificationThe transformation of an object or resource from something valued in and for itself, to something valued generically for exchange. In Marxist thought, the rise of the exchange value of a thing, over its use value.Demographic Transition ModelA model of population change that predicts a decline in population death rates associated with modernization, followed by a decline in birth rates resulting from industrialization and urbanization; this creates a sigmoidal curve where population growth increases rapidly for a period, then levels off.Geography 257 Study Guide 02/25/2013Capitalism-According to Karl Marx, people’s labor is sold on a market which allows for the accumulation of capital by a small number of individuals; this creates contradictions since capital becomes over-concentrated, which leads to disruptive financial and ecological crisesCapital Accumulation-Tendency in capitalism for profits, capital goods, savings, and value to flow towards, pool in, and/or accrue in specific places, leading to the centralization and concentration of both money and power.Carrying Capacity-The theoretical limit of population that a system can sustain.Coase Theorem-A thesis based in neoclassical economics, holding that externalities (e.g., pollution) can be most efficiently controlled through contracts and bargaining between parties, assuming the transaction costs of reaching a bargain are not excessive.Commodity-An object of economic value that is valued generically, rather than as a specific object (e.g., pork is a commodity, rather than a particular pig). In political economy and Marxist thought, an object made for exchange.Commodification-The transformation of an object or resource from something valued in and for itself, to something valued generically for exchange. In Marxist thought, the rise of the exchange value of a thing, over its use value. Demographic Transition Model-A model of population change that predicts a decline in population death rates associated with modernization, followed by a decline in birth rates resulting from industrialization and urbanization; this creates a sigmoidal curve where population growth increases rapidly for a period, then levels off.
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