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24 Cards in this Set
- Front
- Back
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Economic science
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The science of economic production and exchange that relies on methodolgical individualism and the principles of free markets and private property to maximize individual and social welfare
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Epistemology
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A branch of philosophy that investigates the origin, nature, methods, and limits of human knowledge
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Historical materialism
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A science of society where individual character is determined by the economic system for producing the means of life (food, clothing shelter, education, etc). Social dynamics are determined by the compatability between technology and the property system. If these two become incompaitble, social revolution results
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Ideology
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A connected set of strongly held beliefs based on a few abstract ideas, used to guide one’s reactions to external events
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Information capitalism
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Capitalism after the information revolution
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Information revolution
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Theoretical developments in modern Physics that led to technological revolutions in computers and biotechnology
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Institutions
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Relatively permanent patterns, or clusters, of specialized roles, groups, organizations, customs and activities devoted to meeting fundamental needs of society, e.g., the family, education, economy, and religion; and transportation
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Market
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A body of persons carrying on extensive transactions in some specified commodity or service
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Methodological individualism
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The proposition that economic phenonema can be described and analyzed by analysis of the individuals involved in the economy
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Methodology
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A set or system of methods, principles, and rules for regulating a given discipline, as in the arts or sciences
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Ontology
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The branch of metaphysics that studies the nature of existence or being as such
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Science
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Knowledge covering general truths or the operation of general laws especially as obtained and tested through scientific method
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Scientific bias
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A particular tendency or inclination in a scientific subject area, or among scientists, especially one that prevents unprejudiced consideration of alternative views; prejudice
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Social class
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Groups that share common positions in the stratification order based upon ownership and control relationships (e.g., owners of capital, simple labor power, marketable skills, or market power)
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Social networks; bridging & bonding capital
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The theory that social networks have value, and are of two types: exclusive bonding capital that mobilize solidarity and intimacy, and inclusive bridging capital that mobilize civic and economic relations
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Stoicism & the invisible hand
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Adam Smith’s religious theory where markets turn bad intentions (“rapacity” “natural self-interest”) into social benefits (“even the poor can enjoy the fruits of the rich person’s selfishness”).
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Individual (i=1)
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Self-interested, rational
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Capitalism (i=1)
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Economy where individuals free to invest/exchange, wealth is privately owned
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Secular individualism
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Robert Frank (Song = Bob Dylan)
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Religious individualism
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Adam Smith (Song = Steve Earle)
- Enlightenment - Individuals created by God - Self-interest is man’s nature |
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Religion
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A religion is a unified system of beliefs and practices relative to sacred things…beliefs and practices which unite into one single moral community called a Church, all those who adhere to them
Is a) functional (social integration), and b) substantive (sacred) |
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Capitalism (i=2)
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An economic and social system where production and exchange are embedded within class domination and exploitation
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Ruling class/ruling ideas
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The class that owns the means of material production also owns the means of mental production, and tends to dominate society intellectually
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Individual (i=2)
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Humans defined by system of material production, & tend to think and behave in accordance with their social circumstances
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