SOSC 1000 - Lecture 6 - Nov. 1, 2011

SOSC 1000 - Lecture 6 - Nov. 1, 2011 - function the state...

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Smith and Keynes Continued - In 1945 capitalism came back stronger than ever - The left re-evaluated the situation - The left sees Keynesianism differently than the right - The role of the state in capitalist society is explained from the left through three functions - Point was to save capitalism - The state is saving capitalism from itself - Three functions of the state: what the neomarxist referred to as the accumulation
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Unformatted text preview: function the state creates the conditions under which private business can maximize profit, the legitimation function the Keynesian welfare state, coercion when legitimation fails the state will use its monopoly to assure that capitalism wins-Marilyn Waring-Spent close to a decade in public office-Parts of the economy that didnt count for GDP-...
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