POLS 1090 - Lecture 2 - Jan. 10, 2012

POLS 1090 - Lecture 2 - Jan. 10, 2012 - What is capitalism?...

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What is capitalism? - Capitalism is a specific way of organizing social relationships - There is a social and historical component - Capitalism is seen as a way of fulfilling functions that all societies have to do - In portraying capitalism in that way historical content is emptied - Very specific - The way capitalism in which capitalism involves specific historical arrangements with deep social consequences - At the core of these social relationships is a class relationship between capitalists and workers - Capital accumulation occurs through the organization of production and its connection to this class relation - Stages of capitalist production M money, represents initial investment by capitalist, money investment C commodities MP means of production, commodity LP labour power, commodity, workers sell their ability to work for a wage C’ transformed product M’ sales of the product, realization on the market of what is produced, profit and return on capital - Capitalism is a highly unusual way of organizing production - Previously in history production was engaged by agricultural pursuits - In capitalism people are separated from the land - Peoples ability to survive depends on their ability to earn a wage - This reflects a wider historical process in which a working class was created Mobility Segmentation – many divisions based on ethnicity, race, gender, age, disability - Capital refers to the money invested in the various stages of production
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This note was uploaded on 02/06/2012 for the course POLS 1090 taught by Professor Smardon during the Spring '11 term at York University.

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POLS 1090 - Lecture 2 - Jan. 10, 2012 - What is capitalism?...

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