1. Markets are social institutions that serve economic functions like buying and selling but also have important social roles.
2. In tribal areas, weekly markets bring together people from surrounding villages and attract traders, moneylenders, and other specialists. They are an important social gathering for exchanging goods, services, and gossip.
3. Over time, as tribal areas became incorporated into wider economies through processes like colonialism, the character of weekly markets changed and local tribal economies became more linked to exploitative outside markets and traders.
The weekly markets are an important part of the economic and social structure for tribal communities in the district. They are held once a week in 218 locations throughout the district, interlinking village producers with the primary economic networks. At these markets, tribes people sell parts of their agricultural produce and forest goods, trading with merchants. The markets also serve important social functions, providing a break from daily routines and opportunities for cultural exchange.
Sociologists analyze information and data to understand relationships rather than accepting common beliefs. The document then discusses the evolution of human societies from hunting and gathering to agricultural societies. Key points include that hunting and gathering societies were small and nomadic, while pastoral and horticultural societies developed inequality, trade, and political institutions as surpluses emerged. Agricultural societies were much larger and led to distinct social classes, money-based economies, specialized religious institutions, and empire building.
Dynamics of Trade and Market Management in Pre-Colonial West Africa: A Survey...AJHSSR Journal
This study examined the nature, form and methods of trade organization and market
management in West Africa in the pre-colonial era. It submits that though West African economies in the precolonial
period were largely driven by agricultural-related enterprises, their economic production, nonetheless,
grew beyond mere subsistence level. This necessitated an exchange of commodities with neighbouring and
some distant communities. This study identifies the different forms of markets among the peoples: local,
regional and external. It further examines the modes of exchange and currency management technique before
the coming of Europeans. The paper also highlights the role of the state in marketing and trade. It concludes that
trade was well organised among indigenous West Africans while markets were well structured for socioeconomic
advancement of the people.
Guilds played an important role in trade and commerce throughout ancient Indian history. They were organized groups of merchants and artisans that helped facilitate economic activity and growth. Guilds gained significant power and influence over time, taking on administrative, judicial, and banking functions in many cities and helping support the development of arts, crafts, and infrastructure projects through their donations.
Society refers to the structured relations and institutions among a large community of people. The concept developed in the 14th century but was further defined by Emile Durkheim in the 19th century. There are five major types of societies: hunting and gathering, horticultural/pastoral, agrarian, industrial, and post-industrial. Hunting and gathering societies were the oldest and most egalitarian but now few exist. Horticultural/pastoral societies developed agriculture and animal husbandry 10,000 years ago. Agrarian societies emerged 5,000 years ago with plow invention, creating surpluses and inequality. Industrial societies began in the 1700s and were based on factories. Post-industrial societies have
Dr, Ambedkar has written very good thesis on Ancient Indian Commerce.
Bharat had very well developed Agriculture, manufacturing, trade and services since ancient time.
Traditional farms and villages were largely self-sufficient, with families producing most of their own food. After industrialization, agriculture became specialized and efficient but less self-sufficient. Farms employed outside workers rather than families. Rural populations declined as people moved to cities for jobs. Cities grew enormously due to industrialization, with new urban planning models emerging like garden cities. However, cities became overly specialized and vulnerable. Now, urban farming is emerging to address issues of specialization, health, and social isolation in cities by producing food and green space and encouraging physical activity, education and teamwork among urban residents.
This document discusses several models of Caribbean society: plantation society, plural society, and creole society. It provides details on the plantation society model proposed by Best, Levitt, and Beckford, describing it as characterized by hierarchical class relations and unstable family units. It also summarizes George Beckford's influential outline of plantation society, focusing on its roots in slave systems and production of commodities for international markets. The document then briefly outlines M.G. Smith's plural society model and concepts of creole society proposed by scholars like Braithwaite and Goveia.
The weekly markets are an important part of the economic and social structure for tribal communities in the district. They are held once a week in 218 locations throughout the district, interlinking village producers with the primary economic networks. At these markets, tribes people sell parts of their agricultural produce and forest goods, trading with merchants. The markets also serve important social functions, providing a break from daily routines and opportunities for cultural exchange.
Sociologists analyze information and data to understand relationships rather than accepting common beliefs. The document then discusses the evolution of human societies from hunting and gathering to agricultural societies. Key points include that hunting and gathering societies were small and nomadic, while pastoral and horticultural societies developed inequality, trade, and political institutions as surpluses emerged. Agricultural societies were much larger and led to distinct social classes, money-based economies, specialized religious institutions, and empire building.
Dynamics of Trade and Market Management in Pre-Colonial West Africa: A Survey...AJHSSR Journal
This study examined the nature, form and methods of trade organization and market
management in West Africa in the pre-colonial era. It submits that though West African economies in the precolonial
period were largely driven by agricultural-related enterprises, their economic production, nonetheless,
grew beyond mere subsistence level. This necessitated an exchange of commodities with neighbouring and
some distant communities. This study identifies the different forms of markets among the peoples: local,
regional and external. It further examines the modes of exchange and currency management technique before
the coming of Europeans. The paper also highlights the role of the state in marketing and trade. It concludes that
trade was well organised among indigenous West Africans while markets were well structured for socioeconomic
advancement of the people.
Guilds played an important role in trade and commerce throughout ancient Indian history. They were organized groups of merchants and artisans that helped facilitate economic activity and growth. Guilds gained significant power and influence over time, taking on administrative, judicial, and banking functions in many cities and helping support the development of arts, crafts, and infrastructure projects through their donations.
Society refers to the structured relations and institutions among a large community of people. The concept developed in the 14th century but was further defined by Emile Durkheim in the 19th century. There are five major types of societies: hunting and gathering, horticultural/pastoral, agrarian, industrial, and post-industrial. Hunting and gathering societies were the oldest and most egalitarian but now few exist. Horticultural/pastoral societies developed agriculture and animal husbandry 10,000 years ago. Agrarian societies emerged 5,000 years ago with plow invention, creating surpluses and inequality. Industrial societies began in the 1700s and were based on factories. Post-industrial societies have
Dr, Ambedkar has written very good thesis on Ancient Indian Commerce.
Bharat had very well developed Agriculture, manufacturing, trade and services since ancient time.
Traditional farms and villages were largely self-sufficient, with families producing most of their own food. After industrialization, agriculture became specialized and efficient but less self-sufficient. Farms employed outside workers rather than families. Rural populations declined as people moved to cities for jobs. Cities grew enormously due to industrialization, with new urban planning models emerging like garden cities. However, cities became overly specialized and vulnerable. Now, urban farming is emerging to address issues of specialization, health, and social isolation in cities by producing food and green space and encouraging physical activity, education and teamwork among urban residents.
This document discusses several models of Caribbean society: plantation society, plural society, and creole society. It provides details on the plantation society model proposed by Best, Levitt, and Beckford, describing it as characterized by hierarchical class relations and unstable family units. It also summarizes George Beckford's influential outline of plantation society, focusing on its roots in slave systems and production of commodities for international markets. The document then briefly outlines M.G. Smith's plural society model and concepts of creole society proposed by scholars like Braithwaite and Goveia.
Dr. BhimRao Ambedkar's speeches are replete with stimulating economic thoughts. He is probably the first thinker to analyse ancient Indian commerce and economic dimensions of social maladies in India.
Pl see his economic views in this downloadable PPT
The document summarizes developments during the High Middle Ages, specifically the period from the 11th-13th centuries known as the Urban Renaissance. Key developments included agricultural innovations that increased food production and supported growing populations. More food allowed more people to live in cities and participate in trade. New social groups like the bourgeoisie emerged. Culturally, Gothic architecture and art developed, and universities were founded. The period saw growing power for towns and their citizens through the establishment of charters and representation in parliaments.
The document summarizes developments during the High Middle Ages or Urban Renaissance period from the 11th-13th centuries. Key developments included:
- Agricultural innovations like the heavy plough and crop rotation led to increased food production and population growth.
- More food allowed the growth of cities and new social groups like the bourgeoisie emerged.
- Trade between cities and regions expanded greatly aided by new banking techniques, money changers, and the establishment of guilds and fairs.
- Culturally, Gothic architecture developed and new universities and schools were founded across Europe alongside the Crusades launched by the Catholic Church.
A notes on explaining different types of settlements in and around the city and there transformation threw out the generation of effective urbanization of city. there disadvantages and advantages. Along with substantial explanation of an example(case study)
This document discusses human society and sociological theories of society. It begins by defining what a human society is - a group of people who share a common culture and lifestyle. It then outlines three main sociological perspectives on society: structural-functionalism, which views society as a system of interrelated parts; conflict theory, which focuses on stress, conflict and social change; and symbolic interactionism, which examines how people develop shared meanings through interaction. The document also provides a brief history of sociology and describes different types of early human societies from hunting/gathering to modern industrial societies.
This document provides an introduction to rural and agricultural marketing. It discusses the meaning and definition of rural marketing, highlighting how rural marketing has evolved over time from marketing agricultural products and inputs to now including household consumables and durables.
The key characteristics of rural markets are described, including that rural incomes are often agricultural and seasonal in nature, the markets are geographically scattered, and exhibit cultural and economic diversity. Rural markets also remain relatively undeveloped with low incomes and standards of living.
The document outlines the objectives of providing insight into rural marketing concepts and practices, and discussing opportunities and challenges in the field.
Futures past – medieval guilds as early co opsAdrian Ashton
guest lunchtime lecture given as part of series of talks at Rochdale's Pioneers Museum on Feb 11th 2017, exploring the role, impact, and legacy of medeival guilds on modern co-operative enterprises, and society more generally
The document discusses different models and typologies of peasant societies through examining case studies of Mayan peasants and Chinese villages. It describes peasants as agrarian populations that must meet basic caloric, replacement, and ceremonial funds for subsistence as well as being subject to rent extraction by states. Peasant communities are analyzed using concepts like Redfield's great versus little traditions and folk-urban continuum as well as theories of limited good and dyadic contracts. The case studies focus on Mayan corporate communities under haciendas and a self-sufficient Chinese village reliant on market towns.
This document provides an overview of key features of Indian society, including:
1. India is a highly diverse country with over 1 billion people of different religions, languages, ethnicities, and customs living together.
2. The caste system and Hinduism have significantly shaped Indian society, dividing people into distinct social classes and influencing culture.
3. Rural and urban communities differ, as many Indians live in villages while major cities like Delhi, Mumbai, and Chennai are economic and cultural centers.
PRESENTATION 4 SOCIOCULTURAL AND POLITICAL EVOLUTION.pptxELSAPENIQUITO3
The document discusses the evolution of human societies from hunting and gathering to post-industrial. It describes the characteristics of each type of society, from nomadic hunter-gatherers to settled agricultural and industrial societies. Key points include that agriculture emerged around 10,000 years ago and led to permanent settlements and surplus food production, enabling larger populations and specialized roles, while industrialization saw a shift to factory-based production using machines powered by new energy sources.
This document provides an overview of negotiable instruments, including:
1. It discusses the evolution of trade and commerce leading to the introduction of negotiable instruments to simplify complex business transactions.
2. It defines negotiable instruments as written documents containing an unconditional promise to pay a certain sum that can be transferred between parties.
3. It outlines the three main types of negotiable instruments according to Indian law - promissory notes, bills of exchange, and cheques - and provides examples and definitions of each.
The High Middle Ages refers to the 12th and 13th centuries in Europe. During this time:
1. Agricultural innovations like the heavy plow, crop rotation, irrigation, and watermills/windmills increased food production and reduced famines. This led to population growth and an economic boom.
2. New cities grew along trade routes, as peasants fled serfdom and merchants sought protection. The largest cities had over 50,000 inhabitants. Urban societies developed social hierarchies and ethnic neighborhoods like Jewish quarters.
3. International trade expanded through routes like the Mediterranean and increased the growth of banking practices such as bills of exchange, credit, and trade fairs. This economic growth supported the rising middle class
This document discusses different types of societies based on their mode of subsistence and level of technological development. It describes hunting and gathering societies, pastoral/herding societies, horticultural societies, and agricultural societies. Hunting and gathering societies are small, nomadic, and lack wealth, political institutions, or division of labor. Pastoral societies rely on herding domesticated animals, are larger and can accumulate wealth, leading to inequality. Horticultural societies practice slash-and-burn agriculture and have more complex divisions of labor and emergence of political institutions like chieftainships. Agricultural societies are the largest, use plow technology, develop cities, social classes, political and economic institutions, specialized religion, and engage in warfare and empire building.
The document discusses the characteristics of different types of societies according to various sociologists including Morgan, Comte, Spencer, and Lenski. It describes the key attributes of hunting and gathering societies, pastoral societies, horticultural societies, agricultural societies, and industrial societies. The summaries focus on nomadic nature, social institutions, division of labor, and how levels of complexity and organization increased across the societal types.
The document provides an overview of the Indus Valley Civilization. It summarizes that the civilization flourished over 4,000 years ago along the Indus River in modern-day Pakistan and India. It had well-planned cities with advanced architecture and infrastructure. The geography of rivers, mountains, deserts influenced the rise and spread of the civilization. It engaged in extensive trade and had sophisticated social and cultural practices, though the reasons for its eventual decline are complex. The Indus Valley Civilization left a significant legacy on the development of the Indian subcontinent.
Weekly haats in India help preserve cultural diversity and traditions. They bring together urban and rural populations, allowing them to experience different communities' practices and cultures. Artisans from various states showcase crafts and handlooms, educating urban audiences. This fosters mutual respect among people from different regions. In contrast, shopping malls cater mainly to higher income groups and lack the cultural mixing and rural-urban exchange seen at haats. While malls benefit the economy, haats are more inclusive and support smaller businesses and artisans.
This document summarizes a research paper on the impact of globalization on traditional weavers in Mau, Uttar Pradesh, India. It discusses how the opening of India's markets has led to increased imports of cheaper textiles, threatening the livelihoods of home-based weavers. The author conducted interviews and focus groups with weavers, finding that many youth are migrating for work due to difficulties in the weaving industry. While globalization has increased exports of some Indian handicrafts, it has also spread Western culture and undermined traditional occupations like weaving in some areas. The government needs policies to help artisans adapt to market trends and compete internationally in order to benefit from opportunities in the global
This document summarizes a research paper on the impact of globalization on traditional weavers in Mau, Uttar Pradesh, India. It discusses how the opening of India's markets has threatened the livelihoods of village artisans. Through interviews and focus groups, the researcher found that many young weavers are leaving the craft and migrating to Gulf countries for work, due to competition from foreign textiles. While globalization has boosted India's GDP and some craft exports, it has also displaced some artisan communities. The government needs policies to help artisans adapt to market trends and compete internationally, in order to preserve India's cultural heritage of crafts and provide employment.
Development of towns and cities in the Medieval Periodtopnotcherslides
In the 11th-12th century, trade prospered in Western Europe as towns and cities emerged. Growing populations and demand for Asian goods revitalized trade, controlled by Italian city-states. Fairs organized by lords served as marketplaces and helped establish money-changing and basic banking. New towns were built along roads and rivers, surrounded by walls for protection. Town governments formed, and people joined guilds to practice crafts and trades. The bourgeois middle class of merchants and artisans grew in wealth and political power through the 17th century.
Urbanization: A Concept, Nature and ExplanationLovelyAnn18
The document discusses key concepts and theories related to urbanization and the sociology of cities. It covers the transformation from rural to urban areas and the increasing concentration of populations in cities. Several sociologists contributed theories on urbanization and city life, including Tonnies' concepts of gemeinschaft and gesselschaft, Durkheim's mechanical and organic solidarity, Simmel's theory of the blasé urbanite, and the Chicago school's view of cities as mosaic of communities. Ecological models of the city including concentric zone and sector models are also summarized. The document also discusses urbanization trends in developing nations and challenges faced by large cities in those regions.
Dr. BhimRao Ambedkar's speeches are replete with stimulating economic thoughts. He is probably the first thinker to analyse ancient Indian commerce and economic dimensions of social maladies in India.
Pl see his economic views in this downloadable PPT
The document summarizes developments during the High Middle Ages, specifically the period from the 11th-13th centuries known as the Urban Renaissance. Key developments included agricultural innovations that increased food production and supported growing populations. More food allowed more people to live in cities and participate in trade. New social groups like the bourgeoisie emerged. Culturally, Gothic architecture and art developed, and universities were founded. The period saw growing power for towns and their citizens through the establishment of charters and representation in parliaments.
The document summarizes developments during the High Middle Ages or Urban Renaissance period from the 11th-13th centuries. Key developments included:
- Agricultural innovations like the heavy plough and crop rotation led to increased food production and population growth.
- More food allowed the growth of cities and new social groups like the bourgeoisie emerged.
- Trade between cities and regions expanded greatly aided by new banking techniques, money changers, and the establishment of guilds and fairs.
- Culturally, Gothic architecture developed and new universities and schools were founded across Europe alongside the Crusades launched by the Catholic Church.
A notes on explaining different types of settlements in and around the city and there transformation threw out the generation of effective urbanization of city. there disadvantages and advantages. Along with substantial explanation of an example(case study)
This document discusses human society and sociological theories of society. It begins by defining what a human society is - a group of people who share a common culture and lifestyle. It then outlines three main sociological perspectives on society: structural-functionalism, which views society as a system of interrelated parts; conflict theory, which focuses on stress, conflict and social change; and symbolic interactionism, which examines how people develop shared meanings through interaction. The document also provides a brief history of sociology and describes different types of early human societies from hunting/gathering to modern industrial societies.
This document provides an introduction to rural and agricultural marketing. It discusses the meaning and definition of rural marketing, highlighting how rural marketing has evolved over time from marketing agricultural products and inputs to now including household consumables and durables.
The key characteristics of rural markets are described, including that rural incomes are often agricultural and seasonal in nature, the markets are geographically scattered, and exhibit cultural and economic diversity. Rural markets also remain relatively undeveloped with low incomes and standards of living.
The document outlines the objectives of providing insight into rural marketing concepts and practices, and discussing opportunities and challenges in the field.
Futures past – medieval guilds as early co opsAdrian Ashton
guest lunchtime lecture given as part of series of talks at Rochdale's Pioneers Museum on Feb 11th 2017, exploring the role, impact, and legacy of medeival guilds on modern co-operative enterprises, and society more generally
The document discusses different models and typologies of peasant societies through examining case studies of Mayan peasants and Chinese villages. It describes peasants as agrarian populations that must meet basic caloric, replacement, and ceremonial funds for subsistence as well as being subject to rent extraction by states. Peasant communities are analyzed using concepts like Redfield's great versus little traditions and folk-urban continuum as well as theories of limited good and dyadic contracts. The case studies focus on Mayan corporate communities under haciendas and a self-sufficient Chinese village reliant on market towns.
This document provides an overview of key features of Indian society, including:
1. India is a highly diverse country with over 1 billion people of different religions, languages, ethnicities, and customs living together.
2. The caste system and Hinduism have significantly shaped Indian society, dividing people into distinct social classes and influencing culture.
3. Rural and urban communities differ, as many Indians live in villages while major cities like Delhi, Mumbai, and Chennai are economic and cultural centers.
PRESENTATION 4 SOCIOCULTURAL AND POLITICAL EVOLUTION.pptxELSAPENIQUITO3
The document discusses the evolution of human societies from hunting and gathering to post-industrial. It describes the characteristics of each type of society, from nomadic hunter-gatherers to settled agricultural and industrial societies. Key points include that agriculture emerged around 10,000 years ago and led to permanent settlements and surplus food production, enabling larger populations and specialized roles, while industrialization saw a shift to factory-based production using machines powered by new energy sources.
This document provides an overview of negotiable instruments, including:
1. It discusses the evolution of trade and commerce leading to the introduction of negotiable instruments to simplify complex business transactions.
2. It defines negotiable instruments as written documents containing an unconditional promise to pay a certain sum that can be transferred between parties.
3. It outlines the three main types of negotiable instruments according to Indian law - promissory notes, bills of exchange, and cheques - and provides examples and definitions of each.
The High Middle Ages refers to the 12th and 13th centuries in Europe. During this time:
1. Agricultural innovations like the heavy plow, crop rotation, irrigation, and watermills/windmills increased food production and reduced famines. This led to population growth and an economic boom.
2. New cities grew along trade routes, as peasants fled serfdom and merchants sought protection. The largest cities had over 50,000 inhabitants. Urban societies developed social hierarchies and ethnic neighborhoods like Jewish quarters.
3. International trade expanded through routes like the Mediterranean and increased the growth of banking practices such as bills of exchange, credit, and trade fairs. This economic growth supported the rising middle class
This document discusses different types of societies based on their mode of subsistence and level of technological development. It describes hunting and gathering societies, pastoral/herding societies, horticultural societies, and agricultural societies. Hunting and gathering societies are small, nomadic, and lack wealth, political institutions, or division of labor. Pastoral societies rely on herding domesticated animals, are larger and can accumulate wealth, leading to inequality. Horticultural societies practice slash-and-burn agriculture and have more complex divisions of labor and emergence of political institutions like chieftainships. Agricultural societies are the largest, use plow technology, develop cities, social classes, political and economic institutions, specialized religion, and engage in warfare and empire building.
The document discusses the characteristics of different types of societies according to various sociologists including Morgan, Comte, Spencer, and Lenski. It describes the key attributes of hunting and gathering societies, pastoral societies, horticultural societies, agricultural societies, and industrial societies. The summaries focus on nomadic nature, social institutions, division of labor, and how levels of complexity and organization increased across the societal types.
The document provides an overview of the Indus Valley Civilization. It summarizes that the civilization flourished over 4,000 years ago along the Indus River in modern-day Pakistan and India. It had well-planned cities with advanced architecture and infrastructure. The geography of rivers, mountains, deserts influenced the rise and spread of the civilization. It engaged in extensive trade and had sophisticated social and cultural practices, though the reasons for its eventual decline are complex. The Indus Valley Civilization left a significant legacy on the development of the Indian subcontinent.
Weekly haats in India help preserve cultural diversity and traditions. They bring together urban and rural populations, allowing them to experience different communities' practices and cultures. Artisans from various states showcase crafts and handlooms, educating urban audiences. This fosters mutual respect among people from different regions. In contrast, shopping malls cater mainly to higher income groups and lack the cultural mixing and rural-urban exchange seen at haats. While malls benefit the economy, haats are more inclusive and support smaller businesses and artisans.
This document summarizes a research paper on the impact of globalization on traditional weavers in Mau, Uttar Pradesh, India. It discusses how the opening of India's markets has led to increased imports of cheaper textiles, threatening the livelihoods of home-based weavers. The author conducted interviews and focus groups with weavers, finding that many youth are migrating for work due to difficulties in the weaving industry. While globalization has increased exports of some Indian handicrafts, it has also spread Western culture and undermined traditional occupations like weaving in some areas. The government needs policies to help artisans adapt to market trends and compete internationally in order to benefit from opportunities in the global
This document summarizes a research paper on the impact of globalization on traditional weavers in Mau, Uttar Pradesh, India. It discusses how the opening of India's markets has threatened the livelihoods of village artisans. Through interviews and focus groups, the researcher found that many young weavers are leaving the craft and migrating to Gulf countries for work, due to competition from foreign textiles. While globalization has boosted India's GDP and some craft exports, it has also displaced some artisan communities. The government needs policies to help artisans adapt to market trends and compete internationally, in order to preserve India's cultural heritage of crafts and provide employment.
Development of towns and cities in the Medieval Periodtopnotcherslides
In the 11th-12th century, trade prospered in Western Europe as towns and cities emerged. Growing populations and demand for Asian goods revitalized trade, controlled by Italian city-states. Fairs organized by lords served as marketplaces and helped establish money-changing and basic banking. New towns were built along roads and rivers, surrounded by walls for protection. Town governments formed, and people joined guilds to practice crafts and trades. The bourgeois middle class of merchants and artisans grew in wealth and political power through the 17th century.
Urbanization: A Concept, Nature and ExplanationLovelyAnn18
The document discusses key concepts and theories related to urbanization and the sociology of cities. It covers the transformation from rural to urban areas and the increasing concentration of populations in cities. Several sociologists contributed theories on urbanization and city life, including Tonnies' concepts of gemeinschaft and gesselschaft, Durkheim's mechanical and organic solidarity, Simmel's theory of the blasé urbanite, and the Chicago school's view of cities as mosaic of communities. Ecological models of the city including concentric zone and sector models are also summarized. The document also discusses urbanization trends in developing nations and challenges faced by large cities in those regions.
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Tanjore Painting: Rich Heritage and Intricate Craftsmanship | Cottage9Cottage9 Enterprises
Explore the exquisite art of Tanjore Painting, known for its vibrant colors, gold foil work, and traditional themes. Discover its cultural significance today!
13. Economics
How markets
work in modern capitalist economies
how prices are
determined
impact of specific kinds of
investment
factors that
influence people to
save or spend.
14. Sociological perspectives on Market and the Economy
Adam Smith, in his book,
‘The Wealth of Nations’
Market economy is made up of a series
of individual exchanges or transactions,
which automatically create a
functioning and ordered system.
System
automatically
series of
individual
exchanges
18th C – Economics = Political Economy
15. Each person looks only to their own self-
interest, but in the pursuit of this self-
interest the interests of society
ഓരരാരുത്തരുും അവനവന്ചെ
താല്പരയത്തിന് ശ്രമിക്കുരപാള്
സമൂഹത്തിന്ചെ താല്പരയുംകൂടി
സുംരക്ഷിക്കചെടുന്നു.
17. There appears to be an
unseen force that convert
what is good for individual in
to what is good for society.
This unseen force was called ‘the invisible hand’ by
Adam Smith.
18. – Adam Smith’s theory was called laissez-faire theory.
• French phrase meaning – ‘let it be’, leave them alone.
the capitalist economy is driven by individual self-interest, and
works best when individual buyers and sellers make rational
decisions that serve their own interests.
മുതലാളിതവ സപദ് വയവസ്ഥചയ നയിക്കുന്നത് വയക്തിപരമായ
താല്പരയങ്ങളാണ്. അത് നന്നായി ശ്പവര്ത്തിക്കുന്നത് വാങ്ങുകയുും
വില്ക്കുകയുും ചെയ്യുന്ന വയക്തികള് വിരവകപൂര്ണ്ണമായ
തീരുമാനങ്ങള് എടുക്കുരപാഴാണ്.
‘free market’
സവതശ്ര വിപണി
19. Sociologist wanted to study economic institutions in a
larger social environment.
• According to Sociologists –
– Markets are organized by social groups or classes
– Markets are influenced by other social institutions and
processes.
Market
Social
Institution
Social
Groups
Social
Process
Social
Classes
20. The weekly haat is a common sight in rural and
even urban India. In hilly and forested areas
(especially those inhabited by adivasis)
Weekly Market
21. • Weekly tribal market: Is the major institution
for the exchange of goods as well as for social
intercourse. especially in the hilly adivasi
occupied regions.
22. Weekly markets bring together people from surrounding
villages, who come to sell their agricultural or other
produce and to buy manufactured goods and other items
that are not available in their villages.
23. They attract traders from outside the local
area, as well as moneylenders, entertainers,
astrologers, and a host of other specialists
offering their services and wares.
24. Local people come to the market to sell their agricultural or
forest produce to traders,
they buy essentials such as salt and agricultural implements,
and consumption items such as bangles and jewellery.
25. But for many visitors, the primary reason to come to the
market is social – to meet kin, to arrange marriages,
exchange gossip, and so on.
26. While the weekly market in tribal areas may
be a very old institution, its character has
changed over time.
27. After these remote areas were brought
under the control of the colonial state,
they were gradually incorporated into
the wider regional and national
economies.
colonialism
Wider
Market
28. The colonial rule brought about many changes
Exporting minerals and
rich forest produce
31. Tribal areas were ‘opened up’ by
building roads -so that the rich
forest and mineral resources of
these areas could be exploited.
32. This led to the entry of traders, moneylenders, and other
non-tribal people from the outside into these areas.
33. The local tribal economy was
transformed as forest produce was
sold to outsiders, and money and
new kinds of goods entered the
system.
വന വിഭവങ്ങള് പുെും നാട്ടുകാര്ക്ക്
വില്െന നടത്താന് തുടങ്ങിയരതാചട
തരേരീയ ആദിവാസി സപദ്
വയവസ്ഥ വലിയ പരിണാമത്തിന്
വിരധയമായി. അരതാചട പണവുും
പുതിയ തരത്തിലുള്ള കച്ചവട
വസ്തുക്കളുും ഈ വയവസ്ഥയിരലക്ക്
കടന്നുവന്നു.
34. Tribals were also recruited as labourers to
work on plantations and mines
35. Due to all these changes, local tribal economies
became linked into wider markets, usually with
very negative consequences for local people.
Wider
Market
36. The weekly market as a social institution, the links between the local
tribal economy and the outside, and the exploitative economic
relationships between adivasis and others, are illustrated by a study of
a weekly market in Bastar district.
40. At the weekly market, you can find
Local
people
Tribals and
Non-tribals
(mostly Hindus)
Outsiders
Mainly Hindu
traders of
various castes
41. Forest officials also come to the market to conduct business
with adivasis who work for the Forest Department
42. The market attracts a variety of specialists selling their
goods and services.
Manufactured goods (such as jewellery and trinkets, pots and knives), non-local foods
(such as salt and haldi (turmeric)), local food and agricultural produce and
manufactured items (such as bamboo baskets), and forest produce (such as tamarind
and oil-seeds).
44. The forest produce that is brought by the adivasis is
purchased by traders who carry it to towns.
45. In the market, the buyers are mostly adivasis
while the sellers are mainly caste Hindus.
46. • Adivasis earn cash from the sale of forest and
agricultural produce
• which they spend in the market mainly on low-value
trinkets and jewellery, and consumption items such
as manufactured cloth.
47. Rajput -jeweller
(wealth and High rank)
Local Hindu -Traders
(Central zone)
Tribal -sellers of vegetables and
local wares (Outer Circle)
Alfred Gell (the anthropologist who studied Dhorai)
The market has significance much
beyond its economic function
Layout of the
market
hierarchical
inter-group social
relation. Hindus of the same community: they express hierarchical
and social distance rather than social equality
50. Ancient Indian village communities that were
relatively self-sufficient
Their economies were organised primarily on the
basis of non-market exchange.
‘jajmani system’
non-market exchange.
51. • Money was used to trade even before
the colonial period.
Pre Colonial India
53. • Our banking system encouraged trades
with in India and abroad.
Pre Colonial India
54. • handloom cloth (both ordinary cotton and luxury silks), as well as
the source of many other goods (such as spices)
• Great demand in the global market, especially in Europe.
Pre Colonial India
56. • The ‘hundi’ or bill of exchange is one such
item that helped merchants to do long
distance trade.
57. • Tamil Nadu – Nattukottai Chettiyars –
organized banking and trade activities (Caste
based)
• ‘Nagarathar Banks’ – Join family firms.
58. The structures of caste, kinship, and family were oriented
towards commercial activity, and business activity was
carried out within these social structures.
Trading and banking activities were organised
through caste and kinship relationships.
59. Their extensive caste-
based social networks
allowed Chettiar
merchants to expand
their activities into
Southeast Asia and
Ceylon.
60. Social Organisation of Markets – ‘Traditional
Business Communities’
• Close connection between caste and economy
• Traditional business group in India: Vaisyas, Parsis, Sindhis,
Bohras and Jains.
• Merchant communities did not always have a high status in
society
• Salt trade was done by a tribal group called the ‘Banjaras’
62. Caste based specialization
Reasons for this caste-based specialisation is that:
• Trade and commerce often operate through caste and
kinship networks
– as we have seen in the case of the Nakarattars.
– Because businessmen are more likely to trust others of
their own community or kin group,
– they tend to do business within such networks rather than
with others outside
• This tends to create a caste monopoly within certain
areas of business.
65. Colonialism and Emergence of New Markets
• Sudden changes in the economy
• Caused Disruption in production, Trade and
agriculture (Ex: the demise of the handloom
Industry)
• Indian economy was closely connected to World
economy.
• After colonialism India was transformed in to a
source raw materials and agricultural produce for
England.
66. In the colonial era India began to be more fully
linked to the world capitalist economy.
Before being
colonised by the
British, India was a
major supplier of
manufactured
goods to the world
market.
67. At the same time, new groups (especially the Europeans) entered
into trade and business, sometimes in alliance with existing
merchant communities and in some cases by forcing them out.
68. The expansion of the market economy in India provided new
opportunities to some merchant Communities
Improve their position
new communities emerged to
take advantage of the economic
opportunities provided by
colonialism
69. ‘Marwari’ community
‘Marwari’
community was
entered the field of
business and
industries during the
colonial period.
most widespread and best-known
business community in India.
ethnic group that originate from
the Rajasthan region in India
70. Marwari Communnity
• Birlas, the community also includes
shopkeepers and small traders in the bazaars
o towns throughout the country.
Bajaj Group
Dalmia Bharat Group
Essar Group
Flipkart
JSW Group
Raymond Group
Snapdeal
Videocon Industries Ltd.
72. After Independence, some Marwari families transformed
themselves into modern industrialists,
even today Marwaris control more of India’s industry than any
other community.
73. Capitalism as a Social System
Karl Marx
Capitalism as a system of Commodity production
മുതലാളിതവും ഒരു
െരക്കുദ്പാദന വയവസ്ഥയാണ്
One of the founders of modern sociology
Critic of modern capitalism
All economic systems are also Social System
എല്ലാ സാപത്തിക വയവസ്ഥകളുും
സാമൂഹിക വയവസ്ഥകള്കൂടിയാണ്
74. Each mode of production consists of
particular relations of production, which
in turn give rise to a specific class
structure.
ഓരരാ ഉൽപാദന രീതിയിലുും
ശ്പരതയക ഉൽപാദനത ബന്ധങ്ങൾ ഉൾചക്കാള്ളുന്നു,
ഇത് ഒരു ശ്പരതയക ക്ലാസ് ഘടനയ്ക്ക് കാരണമാകുന്നു.
75. He emphasised that the economy does not consist of
things, but is made up of relations between people who are
connected to one another through the process of
production.
സപദ് വയവസ്ഥ ഉള്ചകാള്ളുന്നത് സാധനങ്ങചളയല്ല,
മെിച്ച് അത് നിര്മ്മിക്കചെട്ടിരിക്കുന്നത്
ആളുകള്ക്കിയടിചല ബന്ധങ്ങചള
അടിസ്ഥാനമാക്കിയാണ്.
76. Under the capitalist mode of production,
labour itself becomes a commodity,
because workers must sell their labour power
in the market to earn a wage.
മുതലാളിതവ ഉദ്പാദനാ രീതിയില്
അധവാനും തചന്ന ഒരു വില്െന െരക്കാണ്.
കാരണും രവതനും രനടാൻ
ചതാഴിലാളികൾ തങ്ങളുചട ചതാഴിൽ രക്തി
വിപണിയിൽ വിൽക്കണും.
77. This gives rise to two basic classes –
• capitalists,- who own the means of
production (such as the factories),
• workers, - who sell their labour to the
capitalists.
• The capitalist class is able to profit from this
system by paying the workers less than the
value of what they actually produce, and so
extracting surplus value from their labour.
• ചതാഴിലാളികള്ക്ക് അവരുചട
ഉദ്പാദനക്ഷമതരയക്കാള് കുെച്ച് മൂലയും നല്കി
അവരില്നിന്ന് അധിക മൂലയും ഊറ്റിചയടുത്ത്
മുതലാളിമാര് ലാഭും ചകായ്യുന്നു.
79. Commodities and Consumption
• Commodification occurs when things that were
earlier not traded in the market become
commodities.
– (For instance, labour or skills become things that can be
bought and sold).
80. • According to Marx and other critics of capitalism, the
process of commodification has negative social effects.
• In earlier times, human beings themselves were bought
and sold as slaves, but today it is considered immoral to
treat people as commodities.
83. • In contemporary India, we can observe that things or processes that
earlier were not part of market exchange become commodified.
– Examples: professional marriage bureaus and websites that help people to
find brides and grooms for a fee.
– Many private institutes that offer courses in ‘personality development’,
spoken English, and so on, that teach students (mostly middle class youth) the
cultural and social skills required to succeed in the contemporary world.
87. • The consumer conveys a message about his or her
socioeconomic status or cultural preferences by buying
and displaying certain goods, and companies try to sell
their goods by appealing to symbols of status or
culture.
• Max Weber – coined the term ‘Status Symbol’ – to
describe the attitude of the people in buying and using
goods.
– For example, the brand of cell phone or the model of car
that one owns are important markers of socio-economic
status.
• Life style also helps to differentiate Status groups.
89. 1980s have in an era of
liberalisation and Globalisation
Entire world is increasingly interconnected economically,
politically and Culturally.
Economically
Culturally
Politically
91. as well as the development of technology
(such as in computers,
telecommunications, and transport) and
other infrastructure to allow this
movement.
92. A central feature of Globalisation is
the increasing extension and integration of
markets around the world.
Chinees Products in Indian market
Thai fruits in Indian market
93. • Any changes in the market anywhere on the globe as an immediate
impact all over the world.
th
2001 Sept 11
World Trade Center, New York City
India’s booming
software industry
94. Software services industries and
Business process outsourcing (BPO) industries
(such as call centres) are some of the major avenues
through which India is getting connected to the global
economy.
95. Under globalisation, not only money and goods, but also
people, cultural products, and images circulate rapidly
around the world,
enter new circuits of exchange, and create new markets.
Products, services, or elements of culture that were earlier
outside of the market system are drawn into it.
96. • An example is the marketing of Indian
spirituality and knowledge systems (such as
yoga and ayurveda) in the West.
98. Debate on Liberalisation – Market Vs State
Started in the late 1980s.
• privatisation of public sector
enterprises,
• removing governmental
control on capital, labour and
trade,
• reduction of tariffs and import
duties and allowing easier
access for foreign companies.
Liberalisation
Private Sector Public Sector
Privatisation
102. • Market or Market based processes are to be
used to solve social, political and economic
problems.
Marketi
sation
Liberalisation
Privatisation
Globalisation
103. • Supporters of Marketisation believe that
removing government controls will promote
economic growth and lead to prosperity.
• Many thinkers believe that liberalisation and
Globalisation will have attendant evils and
adversely impact Indian industry and agriculture.
• Our industries are small scale or cottage
Industries. They cannot effectively compete with
foreign companies.