Topics: Capitalism, Socialism, Sociology Pages: 3 (392 words) Published: March 12, 2013
Industrial revolution 5 changes
New form of energy
Centralization of work in factories
Mass production
Specialized division of labor
Wage labor

Economic Systems
• Capitalist
Private ownership of property
Pursuit of personal profit
Free competition and consumer choice
a)  Welfare Capitalism combines a mostly market-based economy with extensive social welfare to provide for basic needs. b)  State Capitalism: companies are privately owned but co-operate closely with the government

1. Collective ownership of property
2. Pursuit of collective goals
3. Government control of economy

Economic productivity: Capitalism out produces Socialism - 2.7:1. Economic equality: Socialist economies create less income disparity but offer a lower overall standard of living. Personal freedom: Capitalism ensures freedom to act and Socialism ensures freedom from want.

Capitalism perspectives
Functionalist – brings prosperity to society as whole
Conflict – enables rich to exploit poor
Symbolic interaction - sustained by the early Protestants’ belief that to live a hard-working and responsible life is God’s command.

Religion Any culturally transmitted system of beliefs used to orient people and set meaning for the sacred - Durkheim

Fuels conflict around the world

Sacred objects represent, in part, the greater power
Religions came out of group behavior and group experience
Collective effervescence
-even when alone, carry the group with us

Kenneth Westhues –
Any set of beliefs, rituals, roles, and procedures by which people respond to the fact of limitation

Prescriptions- should do
Proscriptions – shouldn’t

5 functions

Micro theorist
- economic institution is important but there are other factors tying in to religion religion is an agent of change
capitalism based off religion in society
elective affinity – protestant is...
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