Introduction to sociology / economy / Na kyung Lee

1. Summary

History

Society getting develop and complex, economy grew larger. Ancient economy mostly based on subsistence farming. After invention of cuneiform, the usage of writing spreads abroad. And rules that clarified compensation in money of various violent were standardized. In medievel times, most exchanges happen in social group. In europe, capitalism replaced mercantilism and led to economic growth.

 

Works of Capitalism

1.Commodities : capital goods and consumer goods are component of commodities.
2.Money : Money is mostly a standardized means of exhange.
3.Labour power : Labour includes human resources that are human's mental and physical things.
4.Means of production : Manufacturing aids to produce machine, buildings and other things.
5.Production : Act of making goods or services. This consists of labour power and means of production.

 

2. Interesting things what I learned

 In this document, I learned that there is methods of capitalism working. I didn't know that there is methods in capitalism before I read this document. And it was interesting to know about the process of capitalism. I learned this process of capitalism first time. So it was very helpful in detailing the process in this material.

 

3. Discuss Point

I'm very interested that learned about methods of capitalism working. I want to know there is more methods in capitalism working. In our society, capitalism is the principle of running our society. So I want to know there is limitation of capitalism.