SOC 885 Study Guide - Midterm Guide: Feudalism, Profit Maximization, Enclosure
9 Feb 2016
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Capitalism is the socioeconomic formation or an economic system in which all production is subordinated to the imperatives of the market: 2: capitalism had to wrest people from their land, alter, traditional ways of life, destroy social bonds and leave most people economically destitute, you grow or you die" agriculture. Religious and philosophical transformations: john locke (1632-1704), british philosopher: Individuals have right to life, liberty and property, independent of the laws of any particular society"; democratic forms of government" were appealing to bourgeois class: max weber (1864-1920), german sociologist: Origin of capitalism closely linked to a new form of christianity". Protestant churches attached moral value to rational pursuit of economic gain. Free markets, while appearing to be chaotic and unpredictable, was actually guided by an invisible hand that made it work for the benefit of all". The wealth and collective well- being of society was invariably produced in the marketplace as individuals pursued their own self- interest.
