Sociology Chapter 14- Government and the Economy

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Economic System
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the social institution through which good and services are produced, distributed, and consumed
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Political System
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a social institution that is founded on a recognized set of procedures for implementing and achieving society’s goals
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Industrial Revolution
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brought about changes in the social organization of the workplace
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Industrial Society
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a new form of social structure that emerged from the Industrial Revolution. A society that depends on mechanization to produce its goods and services
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The two basic types of economic systems that distinguish contemporary industrial societies
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capitalism and socialism
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Capitalism
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an economic system in which the means of production are held largely in private hands and the main incentive for economic activity is profit
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Laissez- faire
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\”let them do\” – The prevailing form of capitalism immediately following the Industrial Revolution. Endorsed by British economist Adam Smith, people could compete freely with minimal government interaction in the economy
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monopoly
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exists when a single business firm controls the market
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Conflict theorist’s view of monopolies
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point out that pure monopolies are not an element in the economy of the U.S, but competition is still much more restricted than one might expect in a free enterprise system
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Socialist advocates
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Karl Marx and Friedrich Engels- they were disturbed by the exploitation of the working class that emerged during the Industrial Revolution
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Socialism
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the means of production and distribution in a society are collectively rather than privately owned. The objective is to meet people’s needs, central government should make basic economic decisions, and government ownership of all major industries
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Marx’s view of the future of socialist societies
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believed that socialist societies would eventually wither away and evolve into communist societies
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Communism
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refers to an economic system under which all property is communally owned and no social distinctions are made on the basis of people’s ability to produce
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Contemporary examples of a capitalist economic system
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Canada Mexico U.S.A
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Contemporary examples of a socialist economic system
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Russia Sweden
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Contemporary examples of a communist economic system
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Cuba North Korea Vietnam
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Informal Economy
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transfers of money, goods, or services that take place but are not reported to the government
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Politics
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defined by Harold Lasswell as \”who gets what, when, and how\”
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Power
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According to Max Weber, the ability to exercise one’s will over others
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3 basic sources of power within any political system
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force influence authority
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Force
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the actual or threatened use of coercion to impose one’s will on others
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Influence
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refers to the exercise of power through a process of persuasion
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Authority
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refers to the institutionalized power that is recognized
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3 types of authority
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Max Weber developed a classification system for authority traditional authority rational-legal authority charismatic authority
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Traditional Authority
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legitimate power is conferred by custom and accepted practice
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Rational-legal Authority
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power made legitimate by law
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Charismatic Authority
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power made legitimate by a leader’s exceptional personal or emotional appeal to his or her followers
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5 basic types of Government
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Monarchy Oligarchy Dictatorship Totalitarianism Democracy
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Monarchy
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a form of government headed by a single member of a royal family, usually a king, queen, or some hereditary ruler
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Oligarchy
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A form of government in which a few individuals rule
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Dictatorship
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A government in which one person has nearly total power total power to make and enforce laws
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Totalitarianism
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involves virtually complete government control and surveillance over all aspects of a society’s social and political life- dictators often develop this type of government eventually
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Democracy
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literal sense means government by the people
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Representative Democracy
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a form of government in which certain individuals are selected to speak for the people
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What type of system is Capitalism
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economic system
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What type of system is socialism
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economic system
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What type of system is communism
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economic system
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What type of system is fascism
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political system
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Autonomy
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freedom of government officials to make choices irrespective of the wishes of the business elite. High autonomy- can do what is best for \”nation\”, constituents, or general public
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2 basic views of nation’s power structure
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Power Elite model pluralist model
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Power elite models
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Marx believed that a society is ruled by a small group of individuals who share a common set of political and economic interests
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Mill’s Model
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(type of power elite model) C. Wright Mills described a small group of military, industrial, and government leaders who controlled the fate of the U.S (1956)
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Domhoff’s Model
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(type of power elite model) Agreed with Mills that a powerful elite runs the U.S but also stresses the role played by elites in the corporate community and in policy planning networks (2014)
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Pluralist Model
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2nd basic view of nations power structure. Many competing groups within the community have access to government, so no single group is dominant.
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War
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a conflict between organizations that possess trained combat forces equipped with deadly weapons
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3 different ways to approach war
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global view nation-state view micro view
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Global view of war
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study how and why two or more nations become engaged in military conflict
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Nation-state view of war
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stress on the interaction of internal political, socioeconomic, and cultural forces
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Micro view of war
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focus on the social impact of war on individuals and the groups they belong to
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Peace
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the absence of war and as well as a proactive effort to develop cooperative relations among nations
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terrorism
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the use of threat of violence against random or symbolic targets in pursuit of political aims
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4 outgrowths of the concentration of ownership by giant corporations
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The changing face of the workforce deindustrialization The temporary workforce Offshoring
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Deindustrialization
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the systematic, widespread withdrawal of investment in basic aspects of productivity, such as factories and plants
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Downsizing
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refers to reductions taken taken in a company’s workforce as a part of deindustrialization.
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Precarious Work
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employment that is poorly paid, and from the workers perspective, insecure and unprotected.
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Microfinancing
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lending small sums of money to the poor so they can work their way out of poverty

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