SS 101 10-14-10

SS 101 10-14-10 - SS 101 Lect 10/14/10 I. II. III. How much...

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SS 101 Lect 10/14/10 I. How much does that cost? A. Moral Economy – “just price” A.1. Relationship between economics and customs, cultural norms, beliefs about fairness A.2. “just price” rather than “market price” A.3. Doing whats “right” is more important than maximizing profit A.4. Example sin of usury B. Market Economy – “what the market will bear” B.1. Prices are set by impersonal factors called “market forces” B.2. “what the market will hear” – maximizing profit B.3. Moral considerations are disregarded II. Transition from Traditional to Market Economies A. Economic “freedom” A.1. Individuals acting in their self-interest A.2. Class replaces estate or caste B. Anomie and Gesellschaft (“Society”) B.1. Anomie : Certainty and stability replaced by change B.2. Gesellschaft : Replaces community, society organized around proliferation of secondary relationships, competition and individualism are paramount III. Challenges of Modern and Modernizing Economies
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SS 101 10-14-10 - SS 101 Lect 10/14/10 I. II. III. How much...

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