Introduction to Sociology/Economy/doeun lee

1.     Summary

Economy is the ways people use environment to fill their needs, includes exchange, distribution, etc. In the ancient self-supported agriculture economy, it became the current capitalist economy after the Middle East exchange economy. Capitalism, which provides an important ways of industrialization, is that labor and commodities are traded in the marketplace and when he labor, he get paid. Socialism makes allocation and production of resources same. Their goal is to create an equal society.

2.     New/Interesting things I learned

I was most interested in socialism. Socialism is a strange concept for me and I haven't had a chance to look at it. It was difficult for me to understand. This picture helped me understand. I could understand to the fact that social control of wealth and private property can prevent political and economic freedom.

3.     Discussion point

I share the sympathy of Marx's argument that the labor is a source of all value and a source of profit. But why does modern society not justify the cost of labor? This is because it does not think for the importance of labor at all. When labor, the source of all values, is recognized and respected, our society will grow more economically than it is now. So, what should we do to solve this problem?