Big Business

Paper Summary:

This paper discusses the privatization of big business, especially in the case of Halliburton and ENRON. The paper discusses the way in which it has been a serious problem in the ability of bourgeois to create monopolies by having such massive financial control over the government and the result of a consolidation of mass production.

From the Paper:

"Sociology and Economics: Understanding and Defining Capitalism Question 1: The tenants of capitalism emerges within social contract when a society learns to harbor and organize its laboring classes. In the Middle Ages in Europe the ability of mass production was not possible, with the coming of the industrial Age in Europe, the "guild system"--usually involving specialized trade and control of labor--became less efficient in producing goods on a larger scale. In this manner, a "free market" was controlled by those with capital or the ability the invest money into mass production methods. The social context of capitalism stems from a privatization of production, which essentially makes use of the common laborer as a `commodity' within a system that is void of government or trade agreement controls. The older medieval system of government usually had peasants who worked the land for a lord as vassals. "

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