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Chapter. 12
“Sociology of the Economy”
BY:J.Q
Economy
 - it refers to the structuring and functioning of the
development and utilization of human and natural
resources in the production, processing, distribution and
consumption of material goods and services.
 Importance
 - influence habits, skills, knowledge, expectation,
motivation
 - affects social norms, values and personal relationship
within the society
Functions of the Economy:
 1. It provides physical subsistence for a society.
 2. It generates as well as incorporates social changes for the
continuity of society.
 3. The economy maintains a balance with the other social
systems and among its subsystems in the production,
distribution, and consumption of economic goods and
services.
 4. The economic institution indicates the nature of social
stratification in the society, shows class and mobility
differences in relation to status differentials and reflects
relative ranking.
The social structure of Economy
 Economic systems are classified:
 - underdeveloped or developed
 - agricultural or industrial
 - substinence or mechanized
 - capitalistic or communistic
 Scales in classifying the level of economy:
 1. the number and types of occupation that people engage in.
 2. the use of money as a medium of exchange
 3. the extent and degree of application of mechanized power
to economic activities
 4. family income and expenditures.
 5. the quantity and quality of material possessions.
 6. the prevailing social norms and value orientation on
property, work, exchange, leisure and others.
Social Subsystems of Economy
Social subsystems includes :
 1. Property
 2. Technology
 3. Division of labour
 4. Organization of work
1. Property
 – refers to the network of rights and duties of one person
or group as against all other persons and groups ( Davis,
1949)
 It can be differentiated as:
 - private property
 - public property
Private property
 – free from direct and state controls and is generally
transferred from the owner to their duly designated heirs.
Ex: land, buildings , money
Public property
 – is subject to governmental restraints and is placed
under the control of the different social subsystems of the
government.
 Ex. parks, playgrounds, streets, sidewalks, schools, libraries
and other property regularly used by the general public
2. Technology
 - consists of the knowledge, skills, and attitudes necessary to
convert available resources into objects people need and
want.
 -views technology as the major factor which influence the
behaviour and attitudes of the people ( Haralmbos and
Holborn, 1990)
Technological advances consist of 3 factors:
1. creative, reasonable idea
2. practical application
3. diffusion through society
 Characteristics of Population that affect
technology are:
 1. the rate of its growth
 2. the directions of its mobility
 3. the density or pressure of its distributions
 4. its supply of technically skilled workers, technicians, and
managers.
 5. its value orientation and beliefs with regard to the
acceptance or rejection of technological innovations.
 Importance aspects of the social organization in
relation to technology are:
 1. the size and homogeneity of the population
 2. the structure of leadership and followership and their
corresponding personality characteristics.
 3. the types of social interactions involved
 Some criteria on which to base the extent and
possibilities of technological development are:
 1 accumulated body of technological knowledge
 2. technical skills
 3. institutional structures and value orientation
 4. population growth
 3. Division of Labor
 - is the specialisation of cooperating individuals who perform
specific tasks and roles
 - represents the differentiation of functions.
 4. Organization of Work
 - concerned with the application of sociological principles to
the study of economic structures and the values and
ideologies.
 - management of solving problems in relation to economy.
THE END..

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Sociology of the economy (By: J.Q)

  • 1. Chapter. 12 “Sociology of the Economy” BY:J.Q
  • 2. Economy  - it refers to the structuring and functioning of the development and utilization of human and natural resources in the production, processing, distribution and consumption of material goods and services.  Importance  - influence habits, skills, knowledge, expectation, motivation  - affects social norms, values and personal relationship within the society
  • 3. Functions of the Economy:  1. It provides physical subsistence for a society.  2. It generates as well as incorporates social changes for the continuity of society.  3. The economy maintains a balance with the other social systems and among its subsystems in the production, distribution, and consumption of economic goods and services.  4. The economic institution indicates the nature of social stratification in the society, shows class and mobility differences in relation to status differentials and reflects relative ranking.
  • 4. The social structure of Economy  Economic systems are classified:  - underdeveloped or developed  - agricultural or industrial  - substinence or mechanized  - capitalistic or communistic
  • 5.  Scales in classifying the level of economy:  1. the number and types of occupation that people engage in.  2. the use of money as a medium of exchange  3. the extent and degree of application of mechanized power to economic activities  4. family income and expenditures.  5. the quantity and quality of material possessions.  6. the prevailing social norms and value orientation on property, work, exchange, leisure and others.
  • 6. Social Subsystems of Economy Social subsystems includes :  1. Property  2. Technology  3. Division of labour  4. Organization of work
  • 7. 1. Property  – refers to the network of rights and duties of one person or group as against all other persons and groups ( Davis, 1949)  It can be differentiated as:  - private property  - public property
  • 8. Private property  – free from direct and state controls and is generally transferred from the owner to their duly designated heirs. Ex: land, buildings , money Public property  – is subject to governmental restraints and is placed under the control of the different social subsystems of the government.  Ex. parks, playgrounds, streets, sidewalks, schools, libraries and other property regularly used by the general public
  • 9. 2. Technology  - consists of the knowledge, skills, and attitudes necessary to convert available resources into objects people need and want.  -views technology as the major factor which influence the behaviour and attitudes of the people ( Haralmbos and Holborn, 1990) Technological advances consist of 3 factors: 1. creative, reasonable idea 2. practical application 3. diffusion through society
  • 10.  Characteristics of Population that affect technology are:  1. the rate of its growth  2. the directions of its mobility  3. the density or pressure of its distributions  4. its supply of technically skilled workers, technicians, and managers.  5. its value orientation and beliefs with regard to the acceptance or rejection of technological innovations.
  • 11.  Importance aspects of the social organization in relation to technology are:  1. the size and homogeneity of the population  2. the structure of leadership and followership and their corresponding personality characteristics.  3. the types of social interactions involved
  • 12.  Some criteria on which to base the extent and possibilities of technological development are:  1 accumulated body of technological knowledge  2. technical skills  3. institutional structures and value orientation  4. population growth
  • 13.  3. Division of Labor  - is the specialisation of cooperating individuals who perform specific tasks and roles  - represents the differentiation of functions.  4. Organization of Work  - concerned with the application of sociological principles to the study of economic structures and the values and ideologies.  - management of solving problems in relation to economy.