{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Most individuals primary resource is labor value of

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: pitalism • Productive resources are concentrated in a small portion of the population. • Most individuals’ primary resource is labor • Value of what workers contribute to production is greater than the wages they are paid – this creates profit Common Attributes of Capitalism • Workers wish to receive as close to full value of their labor as possible • Owners wish to pay a small portion of the value of labor • This creates conflict • Capitalism dictates that there will be differentiated economic and social classes – rich and poor Expansion of capitalism • Capitalism has spread throughout the world • Has been accompanied worldwide by widescale disruption of traditional ways of life • Most workers from traditional societies enter as low-wage laborers • They produce goods for wealthy societies that they themselves cannot afford Globalizaton • Integration of resources, labor, capital into a (single) global network • Consider the current economic crisis and its global dimensions, this isn’t just a crisis in the US Effects of Global Exchange Exchange Resulted in worldwide inequities: • Cultivation oriented primarily toward the market • Predominance of wage labor • Control over culture and social institutions • Bureaucracy: administrative hierarchy characterized Bureaucracy: by specialization of function and fixed rules by Philippe Bourgois “Office Work and the Crack Alternative” Underground Market in East Harlem • Why does Bourgois argue that this market has developed? – 1960s-1970s loss of manufacturing jobs – Conflict between ser...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online