This sort of production is widespread in the poorer zones of the world economy

This sort of production is widespread in the poorer

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- This sort of production is widespread in the poorer zones of the world economy. - In richer zones we often call it free-lancing. This kind of activity involves not only the marketing of produced goods (including of course intellectual goods) but also petty marketing. 4. Rent - Rent can be drawn from some major capital investment (offering urban apartments for rent, or rooms within apartments) or from locational advantage (collecting a toll on a private bridge) or from capital ownership (clipping coupons on bonds, earning interest on a savings account). - What makes it rent is that it is ownership and not work of any kind that makes possible the income. 5. Transfer payments
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- An income that comes to an individual by virtue of defined obligation of someone else to provide the income. Few households are without all five kinds of income. The persons within the household who tend to provide the income may correlate with sex or age categories. It follows that in a capitalist system, employers in general would prefer to employ wage-workers coming from semi-proletarian households. V. Classes There are classes in a capitalist system, since there are person who are differently located in the economic system with different levels of income who have differing interests. It is obviously households, not individuals, which are located within classes. VI. Status Quo/ Identities If one calls them status-groups, one is emphasizing how they are perceived by others, a sort of objective criterion. If one calls them identities, one is emphasizing how they perceive themselves, a sort of subjective criterion. These status groups or identities are the numerous “peoples” of which all of us are members—nations, races, ethnic groups, religious communities, genders and categories of sexual preferences Universalism The priority to general rules applying equally to all persons, and therefore the rejection of particularistic preferences in most spheres. It is a positive norm, which means that most people assert their belief in it, and almost everyone claims that it is a virtue. Racism and Sexism Negative norms Are instances of a far wider phenomenon that has no convenient name, but that might be thought of anti- universalism The active institutional discrimination against all the persons in a given status-group or identity Universalism is believed to ensure relatively competent performance and thus make for a more efficient world economy, which in turn improves the ability to accumulate capital. Racism, sexism and other anti-universalistic norms perform equally important tasks in allocating work, power, and privilege within the modern world system.
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THE RISE OF THE GLOBAL CORPORATION Historic Globalization – study of globalization As the world emerged from the vast destructions of World War II, economic recovery and expansion were led overwhelmingly by American corporations.
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