LESSON 5 ECONOMY, SOCIETY AND CULTURAL CHANGE

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1. Lesson 5 Economy, society, and cultural change

2. The economy as foundation of social life Karl-he Is the father of scientific socialism, famously stated in his a preface to a critique of economy(1859)

3. Different kinds of social relation Social production Where men enter into definite ralation that are indispensable and independent of their will;these relations of production correspond to a definite stage of development of their material forces of production.

4. 2. Mode of production of material life It determine the social,political and intellectual life process in general.

5. 3 types of lifestyle family class Lower class Family is one with a low socioeconomic status, characterized by low income, low status occupations, and limited access to education, housing, and Healthcare.

6. 2. Middle class A household with an income and lifestyle positioned between the working class and upper class in a society’s socioeconomic hierarchy.

7. 3. Higher class Defined by immence wealth,high social status, and significant political, economic, and financial power.

8. System of stratification as sources of inequalities Stratification -when regularly recognized the social differences such as religion, gender, manner, and culture.

9. Castle -a system of social stratification refers from class in terms of its rigidity and in the basis of legitimation. Also called closed system.

10. Class system -a system where individual are positioned according to their access to the means of production and contribution to productive labor.

11. Social mobility -Where people are allowed and are capable of moving from one stratum or class to another class.

12. Status -it refers to life chances that are determine by social honor or prestige.

13. Pierre boarding -a French sociologists who dealt extensively with class inequalities in cultural and social capital.

14. Two types of capital by boundieu Cultural capital UT refers to the form of knowledge where a person acquires from family background which, give them higher status in society.

15. 2. Social capital It refers to resources based on group membership, relationship, and networks of influence and support.

16. Habits -a form of capital which refers to the personal psychological disposition of a person that are shaped by this forms of capital and family background.

17. Economy and globalization Anthony Giddens (2002) -a British sociologist,explained the multiplication of risks in a new globalize economy.

18. Neoliberalism -a plural set of ideas rather than as a singular body of economic theory.

19. Market -place where private individuals transact business freely.

20. Economic globalization and the environment Classical theories of development equated development solely with economic growth or the rise in gross national product( Gnp )

21. Mark hanson (2008) -growth signifies more of something, while development signifies betterment of something.

22. Productivist paradigm The productivist paradigm, or the belief in endless growth, simply advocate for continuous growth and rejected any nation of limits to the environment and resources.

23. The rise of ukay-ukay or wag- wagan market Secondhand clothing markets are popular in these countries. Secondhand clothing or known locally as “ ukay-ukay ”.

24. Financial literacy and risk management in the runaway world The term “risk society” is popularized by the German sociologist Ulrich beck in the 1980s. He defines it as “a systematic way of dealing with hazards and insecurities induced and introduced by modernization itself”.