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Sociology

<OpenstaxFigure id="import-auto-id3630806" src="https://openstax.org/apps/archive/20240226.174525/resources/a4ab3e9261a4f563eba7f4b7ed1e837d67195d62" alt="Two large robot arms with specialized devices on the ends grab and stack pallets of bread in a large factory." mediaType="image/jpg" width="1100" height="825" />
<OpenstaxFigureText width="1100">
	<strong>Figure 18.5</strong> Capitalism enables incredible innovation, but it also empowers employers and owners to make many of their own decisions. This bread company has automated the process of packaging its products and preparing them for shipping. As you can see, the factory floor seems largely devoid of people. (Credit: KUKA Roboter GmbH, Bachmann)
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	Scholars don’t always agree on a single definition of capitalism. For our purposes, we will define <OpenstaxTerm>capitalism</OpenstaxTerm> as an economic system in which there is private ownership (as opposed to state ownership) and where there is an impetus to produce profit, and thereby wealth. This is the type of economy in place in the United States today. Under capitalism, people invest capital (money or property invested in a business venture) in a business to produce a product or service that can be sold in a market to consumers. The investors in the company are generally entitled to a share of any profit made on sales after the costs of production and distribution are taken out. These investors often reinvest their profits to improve and expand the business or acquire new ones. To illustrate how this works, consider this example. Sarah, Antonio, and Chris each invest $250,000 into a start-up company that offers an innovative baby product. When the company nets $1 million in profits its first year, a portion of that profit goes back to Sarah, Antonio, and Chris as a return on their investment. Sarah reinvests with the same company to fund the development of a second product line, Antonio uses his return to help another start-up in the technology sector, and Chris buys a small yacht for vacations.
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	To provide their product or service, owners hire workers to whom they pay wages. The cost of raw materials, the retail price they charge consumers, and the amount they pay in wages are determined through the law of supply and demand and by competition. When demand exceeds supply, prices tend to rise. When supply exceeds demand, prices tend to fall. When multiple businesses market similar products and services to the same buyers, there is competition. Competition can be good for consumers because it can lead to lower prices and higher quality as businesses try to get consumers to buy from them rather than from their competitors. 
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	Wages tend to be set in a similar way. People who have talents, skills, education, or training that is in short supply and is needed by businesses tend to earn more than people without comparable skills. Competition in the workforce helps determine how much people will be paid. In times when many people are unemployed and jobs are scarce, people are often willing to accept less than they would when their services are in high demand. In this scenario, businesses are able to maintain or increase profits by not increasing workers' wages.
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<OpenstaxH3>Capitalism in Practice</OpenstaxH3>
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	As capitalists began to dominate the economies of many countries during the Industrial Revolution, the rapid growth of businesses and their tremendous profitability gave some owners the capital they needed to create enormous corporations that could monopolize an entire industry. Many companies controlled all aspects of the production cycle for their industry, from the raw materials, to the production, to the stores in which they were sold. These companies were able to use their wealth to buy out or stifle any competition.
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	In the United States, the predatory tactics used by these large monopolies caused the government to take action. Starting in the late 1800s, the government passed a series of laws that broke up monopolies and regulated how key industries—such as transportation, steel production, and oil and gas exploration and refining—could conduct business. 
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<OpenstaxParagraph>
	The United States is considered a capitalist country. However, the U.S. government has a great deal of influence on private companies through the laws it passes and the regulations enforced by government agencies. Through taxes, regulations on wages, guidelines to protect worker safety and the environment, plus financial rules for banks and investment firms, the government exerts a certain amount of control over how all companies do business. State and federal governments also own, operate, or control large parts of certain industries, such as the post office, schools, hospitals, highways and railroads, and many water, sewer, and power utilities. Debate over the extent to which the government should be involved in the economy remains an issue of contention today. Some criticize such involvements as socialism (a type of state-run economy), while others believe intervention is necessary to protect the rights of workers and the well-being of the general population.
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18.1.2 Capitalism

1 An Introduction to Sociology

1.1 What Is Sociology?

1.1.1 What Are Society and Culture?

1.1.2 Studying Patterns: How Sociologists View Society

1.1.3 Studying Part and Whole: How Sociologists View Social Structures

1.2 The History of Sociology

1.2.1 Creating a Discipline: European Theorists

1.2.2 Applying the Discipline: American Theorists and Practitioners

1.3 Theoretical Perspectives in Sociology

1.3.1 Functionalism

1.3.2 Conflict Theory

1.3.3 Symbolic Interactionist Theory

1.3.4 Sociological Theory Today

1.4 Why Study Sociology?

1.4.1 Sociology and a Better Society

1.4.2 Sociology in the Workplace

2 Sociological Research

2.1 Approaches to Sociological Research

2.1.1 The Scientific Method

2.1.2 Interpretive Framework

2.1.3 Critical Sociology

2.2 Research Methods

2.2.1 Surveys

2.2.2 Field Research

2.2.3 Experiments

2.2.4 Secondary Data Analysis

2.3 Ethical Concerns

3 Culture

3.1 What Is Culture?

3.1.1 Cultural Universals

3.1.2 Ethnocentrism and Cultural Relativism

3.2 Elements of Culture

3.2.1 Values and Beliefs

3.2.2 Norms

3.2.3 Symbols and Culture

3.2.4 Language and Symbols

3.2.5 Language and Culture

3.3 High, Low, Pop, Sub, Counter-culture and Cultural Change

3.3.1 High, Low, and Popular Culture

3.3.2 Subculture and Counterculture

3.3.3 Cultural Change

3.4 Theoretical Perspectives on Culture

4 Society and Social Interaction

4.1 Types of Societies

4.1.1 Preindustrial Societies

4.1.2 Industrial Society

4.1.3 Postindustrial Society

4.2 Theoretical Perspectives on Society

4.2.1 Émile Durkheim and Functionalism

4.2.2 Karl Marx and Conflict Theory

4.2.3 Max Weber and Symbolic Interactionism

4.3 Social Constructions of Reality

4.3.1 Roles and Status

4.3.2 Presentation of Self

5 Socialization

5.1 Theories of Self-Development

5.1.1 Psychological Perspectives on Self-Development

5.1.2 Sociological Theories of Self-Development

5.2 Why Socialization Matters

5.2.1 Nature versus Nurture

5.3 Agents of Socialization

5.3.1 Social Group Agents

5.3.2 Institutional Agents

5.4 Socialization Across the Life Course

5.4.1 Resocialization

6 Groups and Organization

6.1 Types of Groups

6.1.1 Defining a Group

6.1.2 Types of Groups

6.1.3 In-Groups and Out-Groups

6.1.4 Reference Groups

6.2 Group Size and Structure

6.2.1 Dyads, Triads, and Large Groups

6.2.2 Group Leadership

6.2.3 Conformity

6.2.4 The Bystander Effect and Diffusion of Responsibility

6.3 Formal Organizations

6.3.1 Types of Formal Organizations

6.3.2 The McDonaldization of Society

7 Deviance, Crime, and Social Control

7.1 Deviance and Control

7.1.1 Deviance, Crime, and Society

7.1.2 Social Control

7.2 Theoretical Perspectives on Deviance and Crime

7.2.1 Functionalism

7.2.2 Conflict Theory

7.2.3 Symbolic Interactionism

7.3 Crime and the Law

7.3.1 Types of Crimes

7.3.2 Crime Statistics

7.3.3 Public Perception of Crime

7.3.4 The U.S. Criminal Justice System

8 Media and Technology

8.1 Technology Today

8.1.1 What Is Technology?

8.2 Media and Technology in Society

8.2.1 Categorizing Technology

8.2.2 Types of Media and Technology

8.2.3 Product Advertising and the Attention Economy