Geography 2410A/B Lecture Notes - Lecture 2: Equal Opportunity, Bourgeoisie, Job Interview
17 Jan 2017
School
Department
Course
Professor
Document Summary
An economic system in which the means of production are privately owned and operated for profit: determined through the influence of the forces of supply and demand in operation of a free market. Means of production all/mostly privately owned & operated for profit. Supply and demand of free market determine: production, distribution and prices of goods, services, and labour. A capitalist economy in which government actively engages in managing, investing, profiting and restricting the market place. Self-organizing, rewards individual initiative, rewards risk takers (investors), competition rewards efficiency, competition rewards innovation, trade promotes common interests, creates material wealth, wealth may trickle down. The capitalist class or (cid:858)bourgeoisie(cid:859: 3% of canadian people, occupy a largely invisible geography or private yachts, jets, clubs, etc. The middle class or (cid:858)pett(cid:455) bourgeoisie(cid:859: salaried employees (six figures), doctors, lawyers, etc, work place autonomy, wealth from intellectual property, functionaries of capitalism, employment with status & good pay.
