BLOG 4 : SOCIOLOGY TO ECONOMY
Summary :
Sociology is
related to the economy. It is shown by the history of money. Long time ago,
when there was no money, people used goods and things to exchange and using
barter system to buy something in the market, and there is social interaction
between seller and buyer. According to the article, Adam Smith defined the
elements of a national economy is the products that offered at a natural price
generated by the use of competition, supply and demand, and the division of
labour.
There are two
economic and social system, Capitalism and Socialism. Capitalism is an economic
and social system that the means of production are privately controlled. There
are five components of capitalism system, there are, commodities, money, labour
power, means of production (a things that needed for production), and
production (making goods or services : combination of labour power and means of
production). The criticisms of capitalism is, the unfair distribution of wealth
and power because of the tendency toward market monopoly or oligopoly, various
forms of economic and cultural exploitation, and others.
The second
system is Socialism. Socialism is the economic and social system that focused
on the equal distribution, equal allocation of resources, and equal access to
resources for all individuals with a method of compensation based on the of
labor expended. The countries that use this system are Asia, Europeans, Latin
America, and United States. The criticisms of Socialism are inefficient and
incompatible with personal guarantees and freedom.
What was interesting / what did you
learn ? :
I’m
interested in economic system especially socialism, because I think Socialism
is the most fair system, that everything is distributed equally without
focusing on just one aspect of peoples in one country, and I think so many
country using this system, such as Chinese and Vietnam that using Socialist
Market economy or Socialist-oriented market economy, and so many countries
using this system.
Discussion point :
There
are 2 economic systems, Capitalism and Socialism. Is It possible that in one
country have the combination of both system, such as using a part of capitalism
system and a part of socialism system?
I think it is not possible, because their main ideology is different. While Capitalism prioritize the right of private ownership, Socialism care for the wealth equality of their people
ReplyDeleteI think it is impossible for democracy to coexist in a country. If you look at the countries that are already in place, you can feel the advantages and disadvantages of each. Based on this, I think one side will follow the other.
ReplyDelete