SOC0005_Week07

SOC0005_Week07 - SOC 0005 - Week 7 Turner Chapter 17 &...

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Page 1 SOC 0005 - Week 7 Salvatore J. Babones Department of Sociology University of Pittsburgh Copyright 2007
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Page 2 Turner Chapter 17 - Economy
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Page 3 MACROSOCIOLOGISTS STUDY ECONOMIC SYSTEMS, WHILE MACROECONOMISTS STUDY ECONOMIC PRODUCTION • Microsociologists study economic institutions just like they study all other institutions in society For-profit corporations – Non-profit corporations Macrosociologists study how different economies arrive at different solutions to the common human problem or providing for members of society Pre-industrial economies – Industrial economies Post-industrial economies • Macrosociologists also study the operation of the world-economy as a whole
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Page 4 IN PARTICULAR, MACROSOCIOLOGISTS STUDY HOW THE GLOBAL ECONOMY CHANGES OVER TIME Average Openness Trade Globalization 0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0.45 Year
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Page 5 THE MAJOR ECONOMIC “FACTORS OF PRODUCTION” ARE CAPITAL, LABOR, AND TECHNOLOGY • CAPITAL is the sum total of all of the implements of economic production Capital includes land, buildings, machines, inventories, etc. – It also includes FINANCIAL CAPITAL: the money necessary to support production HUMAN CAPITAL is also a form of capital (I disagree with Turner here) • LABOR is the human effort that goes into production • TECHNOLOGY is the stock of common (not person-specific) knowledge that goes into production
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Page 6 A FOURTH AND EVEN MORE IMPORTANT ELEMENT OF ANY ECONOMY IS ENTREPRENEURSHIP, WHICH ACCOUNTS FOR US ECONOMIC LEADERSHIP GDP per head of population (USD) GDP per head of population (as % of US) GDP per head of population (USD) GDP per head of population (as % of US) Australia 30,193 76 Korea 20,907 53 Austria 31,864 80 Luxembourg 57,938 146 Belgium 30,951 78 Mexico 10,070 25 Canada 31,321 79 Netherlands 31,060 78 Czech Republic 18,472 46 New Zealand 23,953 60 Denmark 31,645 80 Norway 38,728 97 Finland 30,471 77 Poland 12,647 32 France 29,456 74 Portugal 19,490 49 Germany 28,570 72 Slovak Republic 14,309 36 Greece 21,599 54 Spain 25,510 64 Hungary 15,946 40 Sweden 30,370 76 Iceland 32,589 82 Switzerland 33,668 85 Ireland 35,680 90 Turkey 7,688 19 Italy 27,655 70 United Kingdom 31,444 79 Japan 29,684 75 United States 39,732 100 Breakdown of GDP per capita in its components, 2004 (OECD data)
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Page 7 PRE-MODERN SOCIETIES DIFFERED GREATLY IN THEIR USE OF CAPITAL • HUNTER/GATHERER SOCIETIES had only rudimentary levels of capital goods Grinding stones – Arrow heads HORTICULTURAL SOCIETIES represented the first significant accumulations of capital in human history Land – Livestock Houses, equipment, tools • AGRICULTURAL SOCIETIES first applied capital intensively to the production of food in surplus quantities
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Page 8 DIFFERENCES IN CAPITAL INTENSITY ALSO LED TO DIFFERENCES IN
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SOC0005_Week07 - SOC 0005 - Week 7 Turner Chapter 17 &...

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