Political Economy

Question 1

Capitalism

Answer 1

an economic system based on the private ownership of capital (today peoples labor is sold on the market and we develop an accumulation)

Question 2

Political Economic Approach

Answer 2

focuses on the structure of the economy and examines set of power relations embedded in that structure

Question 3

Basis of Marx

Answer 3

Commodity- labor and natural resources/ exchange value
Surplus value- (undervaluing workers)

Once the big guy set the system up- then the value of everything was set up by the labor and get profit by exploiting labor

Question 4

Means of production

Answer 4

Things you need to do work

Question 5

Conditions of production

Answer 5

systems and structure (who and how one gets raw materials

Question 6

Relations of productions

Answer 6

Social relationship between people

Question 7

Primitive (direct) accumulation

Answer 7

first thing you need to start capitalism

Question 8

Over accumulation

Answer 8

too much wealth in the hands of few

Question 9

Accumulation

Answer 9

When you underpay workers, exploit/ over-extract the environment which creates a surplus value and a pocket for profit

Question 10

Capitalism leads to

Answer 10

• the need of… Economic and environmental conditions necessary for it perpetuation
• to struggles over social reproduction (reproducing labor force) and a decrease in labor power. And resistance by social agents

Question 11

Technological “fix”

Answer 11

as a result of the treadmill theory, things are not actually fixed instead is it delayed temporarily

Question 12

Globalization

Answer 12

integration through global networks of exchange

Question 13

Global political economic approaches try to understand

Answer 13

1) driving forces of human activity and systems.
2) Global biophysical repercussions.
3) Power inequities

Question 14

World system approach

Answer 14

is a social system that has boundaries, structures, group members, rules, and coherence where the world economy is integrated though markets rather than the political center.

Question 15

Unequal change

Answer 15

the unequal transfer of productive resources contributing to capital accumulation (uneven development)- Basically taking too much from the environment and can have negative consequences

Question 16

Spatial fix

Answer 16

over accumulation crisis that happens when we have a surplus of capital and labor/shortage of labor and surplus of capital and visa versa

Question 17

Uneven development

Answer 17

persistent differences in levels and rates of economic development between different sectors of the economy

Question 18

Unequal exchange

Answer 18

is a much disputed concept which is used primarily in Marxist economics, but also in ecological economics, to denote forms of exploitation hidden in or underwriting trade

Question 19

Surplus

Answer 19

an amount of something left over when requirements have been met; an excess of production or supply over demand. We need it to cover capital costs and generate profit. o It makes an ecological withdrawal and disorganization