Political Science 2231E Lecture Notes - Lecture 7: Andre Gunder Frank, Human Nature, Giovanni Arrighi

• School: Western University
• Department: Political Science
• Course: Political Science 2231E
• Professor: Nigmendra Narain

Document Summary

Ideas derived from karl marx (and fredrich engels: mode of production: organization of the economy and economic relationships forms the material base of society. Private property: means of production (that is, productive land) is owned by individuals or companies. Industrial society: mass production in factories: market consumerism: commodify everything into buyable/sellable good or services for sale in the market, access to goods or services determined by ability to purchase. Pursuit of profit: highly complex division of labour: production of any good or service involves a complex inter-linked system, means of production. Base = economic basis of society (drives change in the superstructure) Superstructure = political, social & legal institutions (help to perpetuate base) Labour theory of value: congealed value of human labour in goods or services. Capitalists pay workers less than the actual value of the product or service. This difference between workers" pay and the value of their product (exchange value/price) creates surplus value or profit for the capitalists.