Chapter 18 Discussion - Discuss the types of economy

Sociology Homework

Chapter 18 Discussion

This chapter discusses work and the economy as a social institution (social structure/ macro level). So, economy is production, distribution and consumption of goods and services.

First let's discuss the types of economy; Capitalism and Socialism and their similarities and differences.

Capitalism:

-Private ownership of property

-Pursuit of personal profit

-Competition and consumer choice

Socialism:

-Collective ownership of property

-Pursuit of collective goals

-Government control of the economy

a.Then describe to the class how parts of a capitalistic society can be socialistic and how parts of a socialistic society can be capitalistic with examples

b.Give at least two examples of each type of society and how they can each be part of the other.

See Chapter 18: Pages 401 – 404 in your book.

c.How does this relate to “Convergence Theory” on pages 404-405 in your book.

2. Describe the impact a rapidly growing economy can have on families. Explain with examples.

3. How do you think the United States economy will change as we move closer to a technology-driven service economy? Explain with examples.

3. What impact has globalization had on the music you listen to, the books you read, or the movies or television you watch? Explain with examples.

4. Is globalization a danger to local cultures? Why, or why not? Explain with examples.

5. Do you believe we have a true meritocracy in the United States? Why, or why not? Explain with examples.