A.  Economy as a Social Institution

 1.  Theorectical Interpretations

 a.  Functionalist - fundamental structure - to survive must provide basics: food, clothing, shelter.  Enable adaptation to environments.  After survival needs are met, the economy can provide resources for other uses.

 b.  Conflict - Marx - economic systems are the mechanism responsible for inequality and conflict in society - haves vs. have-nots, economy forms the basic structures of society and the mode of production determines basic relationship (owners/workers)

 2. Types of Economies: (issue: government involvement in the economy and business involvement in government)

 a. Capitalism - money, markets
 b. Socialism - distribution

 3. U.S. Economic System: corporate capitalism, postindustrialization (knowledge, service)

 4. Globalization

B.  Politics as a Social Institution

 1.  Theoretical Perspectives

     a.  Functionalist - state - establishing and coordinating social goal-attainment, e.g. self defense.

     b. Conflict -  ultimate source of power, employed by some groups to maintain their control over other groups and gain benefits.  Mutually supportive relationship with leaders in the economy

2.  U.S. Political System

     a.  Freedom and the Constitution

     b.  Structure of Political Power

     c. Pluralist Model

     d. Power Elite

     e. Political Participation
 

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