GEOG 107 Lecture Notes - Lecture 10: Small Government, Wage Labour, Free Market
Document Summary
Where is the market? (where is it coming from?, the factor, the cost to deliver, etc. ) Production cost: labor (lowest cost possible) Alcoa aluminum located in east tennessee, steel manufacturing: raw material chemical, etc. ) Environmental factors: 1969 national environmental policy act. Requires someone to do research on the impacts of manufacturing: moving to avoid environmental regulation. Political economy (pe) (cid:862)claimed(cid:863) intellectually by: political science, economics, sociology. Pe studies the actions of three social institutions: markets, states, classes. Means of productions: the facilities and resources for production of goods and services: two main frameworks (branches) of pe. Capitalism: currently the dominant, global economic system: began as feudalism ended, no complete consensus over definition. Goods and services are made for profit. Establishing a society based on common ownership of the means of production. Several variants (marxist-leninist (practiced by soviet union)) Several key beliefs: conflict between major classes under capitalism leads to conflict meaning the system is unsustainable, conflict lead to common ownership.
