Minimum wage represents a government involvement in a nation economy, although businesses are often wary about the prospect of the government making major economic decisions. In the U.S., Congress sets a federal minimum wage that businesses must follow. Individual states can also create separate minimum wage laws above the federal law. Intervention from the federal and state government can create a difficult business environment. Governments may choose to increase minimum wage on an arbitrary basis, making it difficult for companies to hire individuals at a consistent market rate.
This view sharply contrasts the view of functionalists as they argue that the family benefits both the society as a whole and all the individual members. The Marxists will look at Engels and Zaretsky. Their theories outline ways in which the nuclear family contributes to the continuation of the capitalist system. Marxists see all society’s institutions, such as education system, the media, religion and the state, along with the family, as helping to maintain class inequality and capitalism. Therefore, for Marxists, the functions of the family are to benefit the capitalist system.
Highlight statistics that you think would indicate that your country runs a market-oriented economy. Conversely, highlight statistics that would indicate government intervention in your market. Use this data to place your Country on the Economic System continuum document, alongside the rest of your teammates. On your continuum, place the flag of your country in what you think the correct spot is. Include a brief characterization of your economy
Running Head: CAPITALISM VS. SOCIALISM 1 Capitalism vs. Socialism SO 115 Essentials of Sociology - Assignment 06 Running Head: CAPITALISM VS. SOCIALISM 2 Capitalism vs. Socialism Thou capitalism and socialism are opposing concepts for governing in economics they both have had its stronghold in different parts of the world, society and history. Each of them contain attributes that allow its’ system to function and succeed as well as attributes that contributes to a dysfunctional system with flaws and problematic issues. Capitalism has three fundamental features in which is based on private company ownership and means of production, the pursuit of profit, and marketing competition. With pure capitalism also referred to as laissez-faire capitalism, subsist when market services and production function without the involvement or interfering of government. However, state or welfare capitalism subsist when market services and production are owned by private sectors for the pursuit of profit yet are required to operate and function under rules and regulations that control even place limitations on what can be produced or sold.
Present an outline of subcultural theories of crime and deviance and asses the values of these theories. Functionalism is a consensus structuralist theory which sees the source of crime and deviance looted in the structure of the society. Social order is bases on value consensus and social control aims to protect this by controlling the threat posed by crime and deviance. A former functionalist Merton, attempted to explain why deviance arises in the first place. He believes that the society survives because al the members of society have shared norms and values which he calls the collective conscience.
Social scientists are interested in these societies. Economists are interested in the market, while Geographers would be interested in how goods come from all over the World; and in pollution. Social scientists say that this society is very different than those that came before. Bauman argues that some people are seduced by this society while others are rejected by this society. It was Veblen who coined the term ‘consumer society.
Marxists see society as based on unequal class conflict between the two social classes; the capitalist class, who owns the means of production and the working class whose labour the capitalists exploit for mere profit and power. Marxists have identified several functions that they see the family as fulfilling all for the needs for capitalism. One of these functions the Marxists believes keeps society in a ruling class ideology is the inheritance of property. The key factor, according to Marxists, in shaping society is the mode of production which includes who controls and owns societies as well as productive forces such as tools, machinery, raw materials, land and labour. Karl Marx stated that the earliest, classless society was almost “primitive communism” where there was no private property and all members of society owned the means of production communally.
Both capitalism and socialism are systems that may be used to do "good" or "bad" by those with power. It is for this motive that this paper endeavors to Compare and contrast the capitalist and the socialist development strategies and of the two an approach which can offer a reasonable solution to social and economic development. The essay will begin by defining the key terms like capitalism and socialism to give a foresight of what the main body will discuss. It will further indicate with firm and practical evidence which of the two is more plausible for social and economic development. Badie and Birnbaum (1983: 57) explain that within a capitalist society people are free to choose how to utilize their money.
This paper will examine the influence of Karl Marx’s surplus value on the ideas of Paul Sweezy and Paul Baran’s “Monopoly Capital”. Karl Marx’s Theory of Surplus Value In the theory of surplus value, the value of the entire product is produced in the course of the production process with labor contributing most of the value (Mandel). The surplus product and its money form is the residual after producing classes receive their compensation (Mandel; Marx 1867, 5/21/2011; Marx 1894, 5/21/2011). The income of the ruling class, the capitalist, was hence derived from the appropriation of unpaid labor; an act that Marx saw as the exploitation of labor (Mandel; Marx 1867, 5/21/2011). In the “Communist Manifesto”, Engels and Marx wrote: “The bourgeoisie, during its rule of scarce one hundred years, has created more massive and more colossal productive forces than have all preceding generations together.
Functionalist Views on Education Functionalism has a value consensus perspective in sociology that sees society as based on shared norms and values into which members are socialised. Functionalism sees society as a body each part performs a different function to maintain the entire system. In terms of education functionalists are rather positive and that its role of socialisation is essential to society. Conflict sociologists such as Marxists criticise these positive thoughts and argue that rather than instilling the shared values of society as a whole, education within a capitalist society only transmits the ideology of a minority – the ruling class. Emile Durkheim identifies creating social solidarity as one of the main functions of education.