200158 Business, Society & Policy

Week 3 Tutorial Activity Sheet

This week’s tutorial focuses on the context we use to understand the B-S-G triangle.

B-S-G CONTEXT: DEVELOPMENT OF CAPITALISM, FROM

COLONIALISM TO GLOBAL CAPITALISM

Before each Pre-read your instructor’s lecture notes and view video clips in the vUWS site
session for detailed understanding of the topic, including:
1. Lecture slides: Week 3
2. Video Clips – key concepts for Week 3
Read the support materials in the textbook for more detailed comprehension,
including:
1. Reading 3: Chapter 3 (Capitalism as a system: “unjust” and “unstable”).
2. Reading 4: Chapter 2 (Globalisation).
Read Assessment 1 instructions presented in the learning guide.

Pre- answer any given questions or complete any given tasks in tutorial activity
sheet

During each Enthusiastically participate in the “activities” guided by your instructor.

session Contribute to each session with focused questions and discussions.
Attempt any questions and problems shown in your session.
Identify clearly what you know and what you don’t know.
Ask your instructor about any questions or problems from this or any session.
After each Attempt any questions and problems advised by your instructor.
session Reflect in action (while doing these questions and problems).
Review the worked solutions to questions and problems.
Reflect on action (after you have done these questions and problems).
Identify clearly what you know and what you don’t know.

1. CLASS DISCUSSION: Understanding what’s required for assessment 1 (15min).

2. In your own words, explain your understanding of the following.

a) Capitalism refers to the free economic and political form of a society organization.
b) key characteristics of capitalism and the benefits of a capitalist system.
Key Features: the exploitation of colonies (natural resources, cheap labours, and other properties)

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Week 3 Tutorial Activity Sheet
results in the increease in private property, capital accummulation, a price system, competitive markets,
and voluntary exchange and decrease wage labor for more profits.

Key benefits: more innovation lead to more industrial revolution => efficency production, dynamic
effiency, financial incentives. Mechanism for overcoming discrimination and bringing people toghether
as well as economic freedom = political freedom

3. After watching the excerpt from the film Modern Times, discuss the following:

a) What are the main problems presented and how are they relevant to the topic of the week?
b) How does Modern Times relate to B-S-G relationships?
c) How has capitalism changed from earlier times?
d) Using your sociological imagination, reflect on the impact of early capitalism on the situation today.

a)The film demonstrates the unfair treatment amongst social classes in the capitalism. The working
class has to work very hard for their boss’s enjoyment. Simultaneously, the labors must sacrifice
themselves as a tool for testing the efficiency and effectiveness of a new and convenient machine
serving their boss daily meals.
The film is significant related to the topic of this week because it shows the correlation to the capitalism
that the development of capitalism would not have occured without the exploitation in all aspects.
Furthermore, it stresses that the playing field in capitalism imbalances. If a person have more capital
and knowledge, he will have more power and authorities to do his desirability.

b)Following Modern Times, I realize that B-S-G relationships are very mutual. Business needs the
society to create values and society needs business to meet their demands and enjoy services to
improve the well-beings and health. While, government has responsibility for protecting and
encouraging the growth of games to obtain benefits through taxes on revenues or incomes.

c)In the past, capitalism is that colonisation provided resources that were important for the accumulation
of capital and wealth. In the present, it brings every individual toghether. It encourages innovations to
push the development further as well as emphasizes on the freedom in all sectors with the core purpose
of benefiting the communities.

d)As you can see, capitalism in every time has the discrimination, but it changes very considerably. The
difference is that you derserve to enjoy whatever you do with your efforts. It never says that one works
seriously for another enjoyment. That’s why most of developed nations over the world support
capitalism, while the poor countries tend to protest it.

4. After reading Chapter 3 (Reading 3) and watching the video Masters of Money: Karl Marx And
Marxian Economics – (Students are required to read/watch these before the class), do you
think that the criticisms of capitalism are warranted? Why or why not?

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Week 3 Tutorial Activity Sheet