RealWorldCh12-lecture

RealWorldCh12-lecture - The Real World 2 nd Edition AN...

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Unformatted text preview: The Real World 2 nd Edition AN INTRODUCTION TO SOCIOLOGY Kerry Ferris and Jill Stein Chapter 12 The Economy, Work, and Working Why study economy or work? An economy deals not only with money but also with the production, distribution, and consumption of goods and services within a society. This is a major link between individuals (micro) and society (macro). Historical and Economic Changes In the U.S., the economy has changed over time. New technologies have also changed the nature of our work. 4 Historical and Economic Changes (contd) Earliest American economy: Pre-sixteenth- century Native American societies were either mobile hunting and gathering societies or horticultural societies (which were based on the domestication of animals, farming, and generating a surplus of resources). 5 Historical and Economic Changes (contd) The Agricultural Revolution included social and economic changes, population increases, and increased efficiency of food production. 6 Historical and Economic Changes (contd) The Industrial Revolution rapidly transformed social life resulting from the technological and economic developments including the assembly line, steam power, and urbanization. With this shift to a manufacturing economy, vast numbers of people migrated into cities in search of work. 7 Historical and Economic Changes (contd) The Information Revolution refers to the recent social revolution made possible by the development of the microchip in the 1970s, which brought about vast improvements in the ability to manage information. 8 Economic Systems: Comparing Capitalism and Som Capitalism is an economic system based on the laws of free market competition, privatization of the means of production, and production for a profit, with an emphasis on supply and demand as a means to set price. Encourages efficiency: New technology Expansion of markets Cost cutting 9 Economic Systems: Comparing Capitalism and Som (contd) Som is an economic system based on the collective ownership of the means of production, collective distribution of goods and services, and government regulation of the economy. 10 Economic Systems: Comparing Capitalism and Som (contd) Communism is a system of government that eliminates private property and is the most extreme form of som because all citizens work for the government and there are no class distinctions. 11 Economic Systems: Comparing Capitalism and Som (contd) All nations economies have both capitalist and sot aspects. For example, the capitalist United States has some sot economic features, including business subsidies, market regulations, and public aid programs. 12...
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RealWorldCh12-lecture - The Real World 2 nd Edition AN...

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