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Erin Hamson

Modern History Sourcebook: Adam Smith: The Wealth of Nations, 1776 (Epitome) - 0 views

www.fordham.edu/...adamsmith-summary.html

shared by Erin Hamson on 28 Sep 10 - Cached
Andrew DeWitt liked it
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      The process of specialization was later perfected by Henry Ford, in making cheap, durable cars.
  • This great increase of the quantity of work which, in consequence of the division of labor, the same number of people are capable of performing, is owing to three different circumstances; first, to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and lastly, to the invention of a great number of machines which facilitate and abridge labor, and enable one man to do the work of many....
  • Man has almost constant occasion for the help of his brethren, and it is in vain for him to expect it from their benevolence only. He will be more likely to prevail if he can interest their self-love in his favor, and show them that it is for their own advantage to do for him what he requires of them. Whoever offers to another a bargain of any kind, proposes to do this. Give me that which I want, and you shall have this which you want, is the meaning of every such offer; and it is in this manner that we obtain from one another the far greater art of those good offices which we stand in need of. It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      This is the basis of the Market Economy or Capitalism, exchange based in self-interest that benefits all.
  • ...38 more annotations...
  • In order to avoid the inconvenience of such situations, every prudent man in every period of society, after the first establishment of the division of labor, must naturally have endeavored to manage his affairs in such a manner as to have at all times by him, besides the peculiar produce of his own industry, a certain quantity of some one commodity or other, such as he imagined few people would be likely to refuse in exchange for their produce....It is in this manner that money has become in all civilized nations the universal instrument of commerce, by the intervention of which goods of all kinds are bought and sold, or exchanged for one another....
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      The role/development of money. The problem with money is that it has to be regulated and who regulates it? If we let the governement regulate it, it might become manipulated...
  • The value of any commodity,
  • is equal to the quantity of labor which it enables him to purchase or command
  • Labor, therefore, is the real measure of the exchangeable value of all commodities....
  • The real price of everything
  • is the toil and trouble of acquiring it.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      Note the difference between the value and the price. The price changes most significantly in relation to how much the consumer wants the product, as opposed to how much time it took the maker to make it.
  • which resolves itself into labor
  • resolves itself into rent
  • resolves itself into profit
  • ordinary or average rate both of wages and profit
  • partly by the general circumstances of the society,
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      A man cannot charge above that which can be paid him or he will lose business.
  • partly by the particular nature of each employment
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      Some labor is simply worth more
  • ordinary or average rate of rent
  • partly by the general circumstances of the society or neighborhood in which the land is situated,
  • partly by the natural or improved fertility of the land
  • When the price of any commodity is neither more nor less than what is sufficient to pay the rent of the land, the wages of the labor, and the profits of the stock employed in raising, preparing, and bringing it to market, according to their natural rates, the commodity is then sold for what may be called its natural price.
  • The actual price at which any commodity is commonly sold is called its market price
  • he market price of every particular commodity is regulated by the proportion between the quantity which is actually brought to market, and the demand of those who are willing to pay the natural price of the commodity, or the whole value of the rent, labor, and profit, which must be paid in order to bring it thither.
  • A competition will immediately begin among them, and the market price will rise more or less above the natural price, according as either the greatness of the deficiency, or the wealth and wanton luxury of the competitors, happen to animate more or less the eagerness of the competition.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      The results of scarcity *footballs*
  • quantity brought to market exceeds the effectual demand
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      Surplus
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      ,effect of
  • A monopoly granted either to an individual or to a trading company has the same effect as a secret in trade or manufactures.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      See above
  • When by an increase in the effectual demand, the market price of some particular commodity happens to rise a good deal above the natural price, those who employ their stocks in supplying that market are generally careful to conceal this change
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      A monopoly
  • The exclusive privileges of corporations, statutes of apprenticeship, and all those laws which restrain, in particular employments, the competition to a smaller number than might otherwise go into them, have the same tendency, though in a less degree. They are a sort of enlarged monopolies,
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      See above
  • THE produce of labor constitutes the natural recompense or wages of labor.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      You get what you make
  • Such combinations, however, are frequently resisted by a contrary defensive combination of the workmen; who sometimes too, without any provocation of this kind, combine of their own accord to raise the price of their labor.....
  • Masters, too, sometimes enter into particular combinations to sink the wages of labor even below this rate
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      Two combinations to react to one another. Like the checks and balances found in gov.
  • The demand for those who live by wages, therefore, necessarily increases with the increase of the revenue and stock of every country, and cannot possibly increase without it. The increase of revenue and stock is the increase of national wealth....
  • It is but equity, besides, that they who feed, clothe, and lodge the whole body of the people, should have such a share of the produce of their own labor as to be themselves tolerably well fed, clothed, and lodged
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      equality in the pursuit of happiness
  • First, by restraining the competition in some employments to a smaller number than would otherwise be disposed to enter into them; Second, by increasing it in others beyond what it naturally would be; and, Third, by obstructing the free circulation of labor and stock, both from employment to employment and from place to place.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      Problems of Mercantilism
  • First,
  • by restraining the competition in some employments to a smaller number than might otherwise be disposed to enter into them
  • and to hinder him from employing this strength and dexterity in what manner he thinks proper without injury to his neighbor is a plain violation of this most sacred property.
  • An exclusive corporation necessarily weakens the force of this discipline.
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      the gov is not needed for regulation
  • Second,
  • by increasing the competition in some employments beyond what it naturally would be
    • Erin Hamson
      Erin Hamson on 28 Sep 10
       
      pursuit of happiness
  • by obstructing the free circulation of labor and stock both from employment to employment, and from place to place,
  • Third,
  • Andrew DeWitt on 28 Sep 10
     
    Thanks for the annotations and the comments.
Kevin Watson

Uh-merican: Pet Rocks - 0 views

uh-merican.blogspot.com

digiciv freeconomics free capitalism

shared by Kevin Watson on 27 Sep 10 - No Cached
  • Only in America could a guy like Dahl take advantage of so many people. I know I have probably paid for dumb things in my lifetime, like Keds shoes or canned beets, but seriously, a rock?
  • Kevin Watson on 27 Sep 10
     
    Have you ever heard of pet rocks? Thinking about FarmVille and all the services you pay actual money for online for virtual things made me think of them. Check out this blog post about them, and tell me it's not ridiculous. 
Andrew DeWitt

Speeches Website - 0 views

speeches.byu.edu/?act=viewitem&id=1826&tid=2

open digiciv open movement capitalism giving byu forum free give

shared by Andrew DeWitt on 28 Sep 10 - No Cached
  • Andrew DeWitt on 28 Sep 10
     
    BYU Forum. Great Talk!  This is a must read/listen about if you give more you will actually make more.  Link that to ideas of a free economy.  
anonymous

Bowling Alone - 0 views

bowlingalone.com

bowling alone personal learning networks pln plns pln's

shared by anonymous on 21 Sep 10 - Cached
  • anonymous on 21 Sep 10
     
    Mike Lemmon made an excellent post on Personal Learning Networks, that led me to talk to him and Jeffery Whitlock about them. Jeffery led me to this book about declining social capital, and made a blog post about it.
Andrew DeWitt

Social Media for Branding - 0 views

www.slideshare.net/...social-media-for-branding

social media facebook presentation blog

shared by Andrew DeWitt on 21 Sep 10 - No Cached
  • Andrew DeWitt on 21 Sep 10
     
    Great presentation on how to make your mark in the digital world
  • Andrew DeWitt on 21 Sep 10
     
    Here is the comment I left on the SlideShare website: This is super important stuff, thank you for sharing. In our digital age, a person's ability to market themselves on the web is a form of social capital. The more people follow us on Twitter, Facebook, and the blogosphere, the greater influence we can have. It makes me think about what happens in the book, 'Ender's Game' by Orson Scott Card. In the story, Peter and Valentine publish a lot of political commentary under aliases which eventually have a huge impact on world politics. Our future world may be run by those who can best market themselves and let their voice be heard.
Parker Woody

Communist Manifesto (Chapter 3) - 0 views

www.marxists.org/...ch03.htm

shared by Parker Woody on 04 Oct 10 - No Cached
    • Kristi Koerner
      Kristi Koerner on 04 Oct 10
       
      The conflict with Christianity is interesting.
  • disastrous effects of machinery and division of labour
    • Erin Hamson
      Erin Hamson on 04 Oct 10
       
      are these laid in contrast to the benefits?
  • It proclaimed the German nation to be the model nation
    • Erin Hamson
      Erin Hamson on 04 Oct 10
       
      city upon a hill
  • ...4 more annotations...
  • The Socialistic bourgeois want all the advantages of modern social conditions without the struggles and dangers necessarily resulting therefrom. They desire the existing state of society, minus its revolutionary and disintegrating elements. They wish for a bourgeoisie without a proletariat.
    • Erin Hamson
      Erin Hamson on 04 Oct 10
       
      want everyone to be like them
  • It is summed up in the phrase: the bourgeois is a bourgeois — for the benefit of the working class
  • These proposals, therefore, are of a purely Utopian character.
  • the concentration of capital and land in a few hands; overproduction and crises; it pointed out the inevitable ruin of the petty bourgeois and peasant, the misery of the proletariat, the anarchy in production, the crying inequalities in the distribution of wealth, the industrial war of extermination between nations, the dissolution of old moral bonds, of the old family relations, of the old nationalities.
    • Parker Woody
      Parker Woody on 05 Oct 10
       
      Interesting how they appeal to the family and the loss of morals
Rhett Ferrin

PBS: New Heroes: Dr.V and David Green - Eye Surgery India 02/02 - Desi Video Network - 0 views

www.desivideonetwork.com/...-green-eye-surgery-india-02-02

capitalism free market economics eye care dr. v

shared by Rhett Ferrin on 28 Sep 10 - No Cached
    • Rhett Ferrin
      Rhett Ferrin on 28 Sep 10
       
      I really like this story and the concept of sustainable business. Check out my blog for more imrhettferrin.blogspot.com
Megan Stern

Free Classical Music For Everyone? Why That's Just Plain Old-Fashioned Communism! - 0 views

bighollywood.breitbart.com/...-plain-old-fashioned-communism

Communism digiciv music classical web2.0 capitalism economy

shared by Megan Stern on 05 Oct 10 - No Cached
  • Megan Stern on 05 Oct 10
     
    Do you believe the new digital economy is leading to worldwide Communism?
  • Madeline Rupard on 06 Oct 10
     
    This was probably a rhetorical question, but I don't. I believe that our economy will adjust accordingly. Just because the media industry is changing dramatically, doesn't mean people are giving away free food, free houses, free services. I feel this is just an adaptation, not a complete economical revolution.
Madeline Rupard

Facebook Top 50 - 0 views

www.thebigmoney.com/...big-money-facebook-50-0

economy capitalism technology facebook

shared by Madeline Rupard on 06 Oct 10 - Cached
  • Madeline Rupard on 06 Oct 10
     
    This is an interesting list I found of companies that make the most of the "fan" account they have on facebook. Another interesting crossroad between our economy and technology.
James Wilcox

Natural Capitalism: Creating the Next Industrial Revolution by Paul Hawken - Reviews, D... - 0 views

www.goodreads.com/...683.Natural_Capitalism

Industrial Revolution

shared by James Wilcox on 07 Oct 10 - No Cached
  • James Wilcox on 07 Oct 10
     
    Going Green.  The next form of Industrial Revolution
Madeline Rupard

Example of Blog that is Boosting Advertising Industry - 0 views

theoutgoingblog.blogspot.com

Digiciv economy capitalism search engine blog

shared by Madeline Rupard on 29 Sep 10 - No Cached
  • Madeline Rupard on 29 Sep 10
     
    I made a comment in class today about how there is a large industry that is kind of developing on the internet. That is an industry that is paid to give businesses higher profiles on the internet. My mother works at a company that inserts links onto benign blogs, just to get links to show up more often when you look things up on a search engine. Check out this guy's blog as an example. This guy isn't too sneaky about it: He puts his purpose in the title. Its just interesting to see the jobs that are opening up through the internet.
Katherine Chipman

Overview - The Babbage Engine | Computer History Museum - 0 views

www.computerhistory.org/...overview

babbage

shared by Katherine Chipman on 14 Oct 10 - No Cached
  • Babbage embarked on an ambitious venture to design and build mechanical calculating engines to eliminate the risk of human error in the production of printed tables. The 'unerring certainty of machinery' would solve the problem of human fallibility. His work on the engines led him from mechanized arithmetic to the entirely new realm of automatic computation. Tabular errors provided a practical stimulus. But this was not his only motive. He also saw his engines as a new technology of mathematics.
  • It was not only the grindingly tedious labor of verifying a sea of figures that exasperated Babbage, but their daunting unreliability. Engineering, astronomy, construction, finance, banking and insurance depended on printed tables for calculation. Ships navigating by the stars relied on printed tables to find their position at sea. The stakes were high. Capital and life were thought to be at risk.
David Potter

Coparative study between the French and Industrial Revolutions - 1 views

cnx.org/latest

economy government

shared by David Potter on 29 Sep 10 - No Cached
  • David Potter on 29 Sep 10
     
    Talks about how capitalism to led Industrial and French Revolutions
LeeAnne Lowry

The Remedist - 1 views

www.nytimes.com/...14wwln-lede-t.html

digiciv economy Economics

shared by LeeAnne Lowry on 09 Nov 10 - No Cached
  • LeeAnne Lowry on 09 Nov 10
     
    This, in a nutshell, was Keynes's economics. His purpose, as he saw it, was not to destroy capitalism but to save it from itself.
Madeline Rupard

How "cuil" is it to misspell your brand name? - 0 views

chrisbaskind.com/...it-to-misspell-your-brand-name

mainstream digiciv open computer internet www consumerism capitalism

shared by Madeline Rupard on 01 Dec 10 - Cached
  • Madeline Rupard on 01 Dec 10
     
    So true. Flickr. Prezi. Diigo. Scribd. All about the hilarity of trending website's names.
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