dsoc paper on financial crisis_Notes

dsoc paper on financial crisis_Notes - Question to assess...

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Question to assess: rising inequality across the world where, generally speaking, the rich are getting richer, and the poor are getting poorer. In this essay you are expected to indicate how this theme relates to the current world financial crisis, keeping in mind that the crisis began as a housing crisis. The question has the following two parts: 1) to what extent is rising inequality a cause of the current world financial crisis; and 2) does the current level of inequality influence the response of policy makers to the crisis, that is, are policy makers favoring the rich versus the poor, and why would this be the case (or not)? Things to include: Do you support it with evidence? Do you address the possible criticisms? Do you use at least 2 (and no more than 4) key concepts? Setup: Intro: Introduce your argument in clear and concise way here. Thesis: In the 1 paragraph – contains your main argument and guides the rest of your paper. Evidence: Make 2-3 statements that support your main argument. Each will be in a separate paragraph. Each will use information from course readings. Conclusion: summarize the reasons why your argument is strong and the reader should be persuaded. Argument: Suggested core concepts: Information capitalism, ruling class/ruling ideas, social class, stratification , and economic individualism Info capitalism - We are currently under information capitalism Started with atom bomb** o Created the competition for knowledge in addition to goods and services o QUANTUM REVOLUTION – PHYSICS revolution o INFORMATION CAPITALISM: Started with the development of physics and quantum revolution – STUDY GRAPH Result is: reproduces the upper class and CREATES a new class ; puts a market price on information ALSO created speculation – technology, housing, energy, food; creates new class of speculators working on market – dealing with money and financing moving around the world to make profit Romanesque proletariat – getting further and further outside the system – no longer need their labor; HAVE TECHNOLOGY to replace them Economic inidividualism – people do what they do on an individual level; not on social ADAM Smith –
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o People act in their own best interest Intrinsic natural to borrow and trade – capitalism o His ideas also come from religion – the invisible hand related to God o Related the world to the quasi-religious paradigm of STOICISM: its ok to be greedy, bc eventually greed creates wealth and the wealth is going to trickle down o God created humans so he created capitalism Ideology (of economic science):collection of belief that helps someone see their world people act in their self interests and rationally the economy is self-correcting view the world with private ownership VERY centered on the INDIVIDUAL epistemology of economic science: due to individual choice individual action; understand the world through individual relating to individual ontology of economic science:
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dsoc paper on financial crisis_Notes - Question to assess...

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