Lecture notes
Capitalism notes
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- Coventry University (West Midlands) (CU)
Lecture 2 on capitalism
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Lecture 2: Capitalism- the theories of Durkheim, Marx, and WeberSlide 1:
UK still steeped in tradition e.g. robes at graduation, House of Lords, Monarchy etc.
Slide 2: Durkheim
Agricultural and the way of life changed, peasants forcefully moved out of inner city.
Durkheim wanted to know how it all of impacted on people’s life.
Slide 3: Durkheim prosed two basic types of society
Characterised by a low division of labour e.g. cottage industry- charcoal makers, weavers.
Organic solidarity vs mechanical solidarity- the same pattern of life, i.e. same jobs for
generation: no change.
Monarchy had no say within the ways of life, but the community did. Community were
responsible for punishing those for deviating. Feudal Lords?
Slide 4: Modern Society
Moving from rural areas, earning a wage etc. changed society hugely. We conform because
we are too reliant on society e.g. supermarkets, science, factories etc.
Slide 5:
Durkheim is very sporadic when it comes to explaining the journey from traditional to
modern society.
Slide 6: Karl Marx
He witnessed the changes of German society first hand, therefore he wrote about his views.
Anything that has a monetary value is regarded a capital e.g. stocks, buildings, factories etc.
Money is at the heart of capitalism.
Slide 7: Surplus value
Wage is not the direct value of commodities. E.g. lecturers are not paid directly by students,
it goes to the university first, skimmed over and distributed part of the money to them-
wage slave.
Profit is what drives capitalism. Commodities are a gamble,
Slide 8:
Lose control over labour at times. Class based on conflict
Slide 9: Social change- the materialist conception of history
Tied to their feudal master. Marx looked into the idea of classness- communist society.
Revolution did not happen the same way Marx predicted; was not down to industrialisation.
For now, Marx’s theories are still valid
Slide 10:
Spend money to make money. Apple have just announced their profits are lower as less
people are buying iPhones. Due to China’s slow economic growth.
Marx’s quote is based on colonialism.
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