POLS 110 Lecture Notes - Lecture 9: Common Ownership, Feudalism, Corporatism
8 Mar 2017
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Document Summary
Recognize differences in capitalist and socialist models of political economy. Ideology argument long revolved around two rival economic philosophies: capitalism, socialism, fundamental divide structured the political spectrum, politics only understandable within an economic and social context. Economic systems: economic system: organization through which goods and services are produced, distributed and exchanged. , systems themselves and values underlying them tend to get conflated. Impure systems: reality is more complex no singly capitalist or socialist system, no capitalist system free of socialist policies/tendencies and vice versa. Capitalisms of the world: emerged from feudalism, feudalism: nobility held lands, peasants worked the land. Initially took the form of commercial agriculture relied on waged labour. Industrialization led to machine-based factory production populations moved from rural to urban. Industrialized capitalism taken to be classical form of capitalism. Collective capitalism: markets driven through relational markets, stress on collective identity/narrow income differences between managers and workers, governments have control of markets, e. g.
