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Week 3 Lecture Notes

by: Maddy Hodgman

Week 3 Lecture Notes ECON 105

Maddy Hodgman
GPA 3.83
Intro to Political Economy
Erbin Crowell

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Week 3 Class Notes on Early Cooperative History and Philosophy for Erbin Crowell's Intro to Political Economy TTh 11:30-12:45.
Intro to Political Economy
Erbin Crowell
Class Notes
intro to political economy, Econ, Economics, cooperatives
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This 7 page Class Notes was uploaded by Maddy Hodgman on Friday February 6, 2015. The Class Notes belongs to ECON 105 at University of Massachusetts taught by Erbin Crowell in Spring2015. Since its upload, it has received 204 views. For similar materials see Intro to Political Economy in Economcs at University of Massachusetts.


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Date Created: 02/06/15
Thursday February 5 2015 Intro to Political Economy Week 3 Early Cooperative History and Philosophy Charles Fourier 17721837 bourgeois social philosopher utopian socialist came up with idea for phalanxe rural selfsufficient communities s an alternative to capitalism created what he believed to be the most conducive archetypes for community living Robert Owen 17711858 successful industrialist capitalist utopian socialist planned communities to alleviate impact of Industrial Revolution Father of the Cooperative Movement married into a mill family commandeered New Lanark Mill in Scotland and turned it into the most successful mill in Europe contested dominant philosophies of this time moral development is a result of environment not predisposition provided with the right conditions people can lift themselves out of poverty economic experiments Owen conducted benevolent business owner top down philosophy roots of socially responsible investing Father of Socially Responsible Business William King 17861865 inspired by Owen physician Christian activist precursor to Christian socialism concerned with the welfare of working families bottom up approach to coop development Thursday February 5 2015 published The Cooperator magazine 182030 King s challenges to conventional thinking of the time religious leaders saw selfhelp at heart of Christian morality Adam Smith and early capitalism control by capitalists is not inevitable Owen and other Utopians working people need more than just grandiose visions of the future social critique without a viable alternative King a utopian vision with a practical approach members live in own homes on own land provide jobs King s experiments charitable approaches Provident Institution mutual insurance Mechanics Institute education of artisans Brighton Cooperative Society experience with cooperative trading Principles moral basis for cooperation members provide capital cash trading no credit democratic governance coops should promote their movement King shift in vision utopian vision gt practical alternative to capitalism gt society within a society cooperative commonwealth Society within a Society focus on retail trading Thursday February 5 2015 accumulation of shared capital through contributions and surplus from trade provide jobs housing land member benefits insurance pensions education Early Promotion and Goals journal publication movement slows by 1840 majority fail no legal structure unstable more politically active movements such as Chartists were more attractive state repression of working class organizing national trade union organizing Owen s labor exchanges as a new option for working classes internal challenges legal status no owners member loyalty limited membership lack of commercial experience cash flow problems due to credit no mechanism to distribute surplus Did the model work too well substantial capital built up through retailing membership limited so substantial money would go to each member member economic challenges continue no mechanism to redistribute wealth to members must break up coop to access cash 3 Economic Models 1844 1 capitalism formed by the Joint Stock Act and Bank Charter Act 2 communism Marx s German ldeology and Engels Conditions of the Working Class in England Thursday February 5 2015 3 cooperativism Rochdale Society of Equitable Pioneers Rochdale Friendly Cooperative Society 1830 60 weavers influenced by Owen established library and coop store 1833 extended credit soon closed but continued learning Rochdale Society of Equitable Pioneers founded 1844 weaversactivists member owned grocery store established principles for modern coop movement Industrial and Provident Societies Act 1852 cooperative credit Germany 1840s Hungry Forties lending societies to support selfsufficiency Tuesday February 3 2015 Econ Lecture Notes Intro to the Co operative Movement Early History and Philosophy How do the issues facing our economy compare with this week s readings What do you think What is different Are there parallels Are there similar themes How is this relevant to our topic Overall the economy is better but business regulation chipping away rights of labor globalization political democracy economic inequality have some kind of safer net environment better off scale awareness impacts relationships etc cycle of povertyclass immobility technology and jobs labor capital v intellectual capital industrial revolution machines now high tech Neoliberalism trickle down lower taxes globalism policy privatizationcompetition deregulation England in the 1800s dislocation of local economies mechanization concentration of economic control dramatic redistribution of earth poor working conditions environmental degradation health expensive low quality food minimal government intervention limited democracy social movements for change Shifts in Agricultural Economies 1760s enclosure of common land 1800 45 of population still rural increased efficiency productivity concentration of ownership and control slump in prices for produce 1815 corn laws keep cost of bread high Combination Acts prevent organizing Impact of Industrialization shift from decentralized ownership and production selfemployed artisans protection of guilds friendly societies factory production increased efficiency how are gains distributed Tuesday February 3 2015 Tuesday February 3 2015 lower labor costs gt lower prices deskilling as factories seek lowest cost labor ownership control and wealth further concentrated right to organize restricted by government Child Labor higher mortality rates in children and infants Dominant Social Perspectives humans are inherently sinful focus is on personal salvation wealth is a sign of god s grace as such poverty is a sign of sinfulness reinforced sense that the poor were responsible for their misfortune Philosophical Perspectives Malthus human population will inevitably crash as it outgrows availability of food helping the poor only exacerbates the problem Community responses trade unions luddites mutual aid societies children s rights chartists free trade religious movements women s empowerment cooperation


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