Lecture 11 Political economics

Lecture 11 Political economics - Lecture 11 Outline...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Lecture 11 Outline 09/29/11 Political Economics Modes of Production An economy is a system of production, distribution, exchange, and consumption of resources. Mode of production is defined as a way of organizing production—“a set of social relations through which labor is deployed to wrest energy from nature using tools, skills, organization, and knowledge” (Wolf 1982: 75). Means of Production Means of production include land, labor, technology, materials, and capital. Alienation in Industrial Economies By definition, a worker is alienated from the product of her or his work when the product is sold, with the profit going to an employer, while the worker is paid a wage. A consequence of alienation is that a worker has less personal investment in the product, in contrast to the relationship existing between worker and product in nonindustrial societies.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 Economizing and Maximization Classical economic theory assumed that individuals universally acted rationally, by economizing to maximize profits, but comparative data shows that people frequently respond to other motivations than profit. Alternative Ends People devote their time, resources, and energy to five broad categories of ends: subsistence, replacement, social, ceremonial, and rent. 1. Subsistence fund: work is done to replace calories lost through life activities. 2. Replacement fund: work is expended maintaining the technology necessary for life (broadly defined). 3. Social fund: work is expended to establish and maintain social ties. 4. Ceremonial fund: work is expended to fulfill ritual obligations. 5. Rent fund: work is expended to satisfy the obligations owed (or inflicted by) political or economic superiors.
Background image of page 2
3 Distribution and Exchange The Market Principle The market principle occurs when exchange rates and organization are governed by a monetary standard. Value is determined by the law of supply and demand. The market principle is common to industrial societies. Redistribution Redistribution is the predominant mode of exchange in chiefdoms and some nonindustrial states. In a redistributive system, goods, services, or their
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/12/2011 for the course ANT 2410 taught by Professor Peon during the Fall '08 term at University of Florida.

Page1 / 9

Lecture 11 Political economics - Lecture 11 Outline...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online