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In: Business and Management

Submitted By hufengrui0709
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Pages 2
The world system today
- Modern stratification: Growth of middle class, social mobility leading to a more complex social stratification.

Capitalism: The components * Private ownership of means of production * Market competition * Wage labor * Pursuit of profit

There are a variety ways to run a capitalist economy; Even in ‘hyper-capitalist’ USA- we have government regulation….

The debate: Capitalism
Like: innovation; entrepreneurship; efficiency; growth; hard work--reward; independence/personal freedom

Dislike: inequality; concentration of money and power; narrow definitions of success; economic value privileged over social value; power of corporations.

Socialism: the components * Public ownership of means of production * Government runs the means of production * Central planning * Needs of people decided by a central committee * Distribution of good without profit motive * Goods produced and distributed for general welfare

(Global) Neoliberal Capitalism

Capitalism: private ownership of means of production; market compe….

* Macro-economic stability * Increased FDI * Integration into global economy * Modern development * Debt servicing

Market liberalization:市场自由化
Fiscal austerity:财政紧缩
* A word used to describe how the status quo can be preserved through consent as well as coercion. * One way to gain consent for the status quo, even if it is unjust, is to make the social arrangements that are in the best interests of the dominant group appear to be in everyone’s best interests. When hegemony works, we see social cooperation where there would be conflict.
(2 more) eg. Colonial example of white minority rule: * cultural hegemony * European norms in colonies were seen as: ”civilized, stylish and decent”
Control of knowledge/education
Control of Media


Colonial legacy
. Infrastructure: often limited or fragmented- focused on export economy
. Economy: Underdeveloped economy- limited industry, lack of capital, export focus- often in natural resources
. Political institutions: Inadequate/inefficient

. Formal political independence but:
. Economic and cultural influence, and military interventions
. “informal colonization”

does culture have a rule?…...

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