Introduction to Sociology

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Introduction to Sociology

• Economics

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Economic Systems

• Hunting and Gathering Societies-subsistence
  economy
• Pastoral and Horticultural Societies-domestication
  
• Agricultural Societies
• Industrial Societies

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Economic Systems

• Postindustrial Societies
• Characteristics (1) large service sector (2)
  vast surplus of goods (3)even more extensive
  trade among nations (4) a wider variety and
  quantity of goods available to the average person
  (5) an information explosion (6) global
  village-nations linked by fast communications,
  transportation and trade

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Economic Trends in the U.S.

• Reduction in Jobs and Benefits
• Downsizing
• Stagnant and Shrinking Paychecks
• Income Inequalities
• gt47 of U.S. income goes to the wealthiest fifth
  of Americans

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Main Economic Systems Today Capitalism
Socialism

• CAPITALISM- three major features
• Private ownership of the means of production

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Features of Capitalism

• 2. Market competition(an exchange of items
  between willing buyers and sellers)

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capitalism

• 3. The pursuit of profit (selling something for
  more than it costs).
• laissez-faire capitalism vs state/welfare
  capitalism
• Market restraints

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Main Economic Systems Today Capitalism
Socialism

• SOCIALISM-three essential features
• Public ownership of the means of production

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socialism

• 2. Central planning

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socialism

• 3. The distribution of goods without a profit
  motive

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Forms of Socialism

• Democratic socialism both state and
  individuals produce and distribute goods and
  services gov owns and runs major services and
  private citizens own retail stores, farms,
  manufacturing and service industries

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Corporate Capitalism

• Corporation a business that is treated legally
  as a person
• In corporations those who own the company dont
  typically run the day-to-day affairs

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Multinational Corporations

• A multinational corporation is a corporation that
  operates across national borders
• No country first ethic