Economy and Society PYQ 2022
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Q1. Discuss the Formalist and Substantivist approaches.
Ans1. The Formalist and Substantivist approaches are two
distinct theoretical perspectives in the field of economic anthropology, which
seek to understand how economic systems operate in different societies and
cultures.
The Formalist approach, also known as the neoclassical or
rationalist approach, assumes that economic behaviour is based on rational
decision-making by individuals who seek to maximize their own self-interest.
According to this approach, economic transactions are governed by formal rules,
such as market prices, supply and demand, and contract law. The Formalist
approach emphasizes the role of market forces in shaping economic behaviour and
views economic systems as universal and timeless.
In contrast, the Substantivist approach, also known as the
culturalist or holistic approach, emphasizes the role of culture and social
institutions in shaping economic behaviour. According to this approach,
economic behaviour is embedded in social relationships, and economic
transactions are governed by informal norms, customs, and traditions. The
Substantivist approach views economic systems as specific to particular
societies and cultures and emphasizes the importance of understanding local
contexts in order to understand economic behaviour.
While the Formalist and Substantivist approaches are often
seen as opposing perspectives, some scholars have sought to integrate these
approaches in order to provide a more nuanced understanding of economic behaviour.
For example, some scholars have suggested that while economic transactions may
be governed by formal rules in some contexts, they may be governed by informal
norms and relationships in others.
In conclusion, the Formalist and Substantivist approaches
represent two distinct perspectives on economic behaviour, which emphasize the
role of rational decision-making and social relationships, respectively. While
these approaches have been subject to criticism and debate, they continue to
provide useful theoretical frameworks for understanding economic systems in
different societies and cultures.
Q2. What is Globalization? How does it impact consumption
patterns?
Ans2. Globalization refers to the increasing
interconnectedness of the world’s economies, societies, and cultures through
the rapid exchange of goods, services, capital, and ideas across national
borders. Globalization has been facilitated by advances in communication
technology, transportation, and trade liberalization policies.
Globalization has had a significant impact on consumption
patterns, as it has led to the widespread availability of a wide range of goods
and services from around the world. Consumers today have access to products
from different countries and cultures, and are able to purchase goods online
from anywhere in the world.
One of the main ways in which globalization has impacted
consumption patterns is through the spread of consumer culture. Consumer
culture is a social and economic system in which people’s identities, status,
and well-being are tied to their ability to consume goods and services.
Globalization has led to the spread of consumer culture to many parts of the
world, as people are exposed to new products and lifestyles through media and
advertising.
Globalization has also led to changes in production and
supply chains, which has affected the types of goods that are available to
consumers. Many companies have moved their production to countries with lower labour
costs, which has led to the production of goods at a larger scale and at lower
prices. This has led to the availability of cheaper goods for consumers, but
has also led to concerns about labour standards and environmental impacts.
At the same time, globalization has also led to the
development of new markets and new opportunities for local producers to sell
their goods to consumers around the world. This has led to the growth of industries
such as fair trade and organic farming, which focus on producing goods in a
sustainable and socially responsible manner.
In conclusion, globalization has had a significant impact on
consumption patterns, as it has led to the spread of consumer culture and the
availability of a wide range of goods and services from around the world. While
globalization has created new opportunities for consumers and producers, it has
also raised concerns about labour standards, environmental impacts, and the
impact of consumer culture on society and the environment.
Q3. How cross cultural consumption is transforming our
society? Discuss
Ans3 Cross-cultural consumption refers to the adoption of
goods, services, and cultural practices from different cultures. It is driven
by the increasing globalization of the world’s economies, the spread of
consumer culture, and the ease of access to information and media.
Cross-cultural consumption is transforming our society in
several ways:
Diversity: Cross-cultural consumption is leading to greater
diversity in our society, as people are exposed to and adopt different cultural
practices and values. This is leading to a more inclusive and pluralistic
society.
Cultural exchange: Cross-cultural consumption is
facilitating cultural exchange between different cultures, as people share and
learn from each other’s traditions, practices, and values. This is leading to
greater understanding and tolerance between different cultures.
Hybridization: Cross-cultural consumption is leading to the
creation of new cultural practices and products that blend elements of different
cultures. This is leading to the emergence of new forms of art, music, and
cuisine, which are creating new cultural identities and experiences.
Standardization: Cross-cultural consumption is also leading
to the standardization of certain cultural practices and products, as global
brands and media companies dominate the market. This can lead to the loss of
local cultural traditions and practices, and the homogenization of cultural
experiences.
Consumerism: Cross-cultural consumption is also contributing
to the growth of consumerism, as people’s identities and social status become
tied to their ability to consume products from different cultures. This can
lead to the exploitation of resources and the creation of environmental and
social problems.
In conclusion, cross-cultural consumption is transforming
our society in both positive and negative ways, by promoting diversity,
cultural exchange, hybridization, and standardization, while also contributing
to consumerism and the loss of local cultural traditions. It is important to
promote responsible and sustainable cross-cultural consumption practices that
respect and celebrate the diversity of different cultures.
Q4. What is McDonaldization? Explain its impact on
Society.
Ans4. McDonaldization refers to the process by which the
principles of fast food restaurants, such as efficiency, calculability,
predictability, and control, are applied to other areas of society. The term
was coined by sociologist George Ritzer to describe the increasing
standardization and rationalization of modern society.
The impact of McDonaldization on society is complex and
multifaceted. Some of the main effects include:
Efficiency: McDonaldization has led to increased efficiency
in many areas of society, as processes become streamlined and standardized.
This has led to faster service, lower costs, and increased productivity.
Standardization: McDonaldization has led to the
standardization of products and services, which has led to the loss of
uniqueness and individuality. This can lead to a sense of sameness and a lack
of diversity.
Predictability: McDonaldization has led to the creation of
predictable and routine experiences, which can be comforting and reassuring to
some, but also boring and monotonous to others.
Control: McDonaldization has led to increased control over
workers and consumers, as processes become more tightly regulated and
monitored. This can lead to a loss of autonomy and creativity.
Homogenization: McDonaldization has led to the spread of a
particular Western culture and way of life, which can undermine local cultures
and traditions.
Environmental impact: McDonaldization has contributed to the
growth of consumerism and the consumption of resources, which can have negative
environmental impacts.
Overall, the impact of McDonaldization on society is a mixed
bag. While it has led to increased efficiency and productivity, it has also
contributed to the loss of diversity and individuality, increased control over
workers and consumers, and negative environmental impacts. It is important to
recognize the effects of McDonaldization and to work towards a more balanced
and sustainable way of organizing society.
Q5. Explain karl Polanyi’s theory of theory of economic sociology
Ans5 Karl Polanyi’s theory of economic sociology is a
critical perspective on the functioning of market societies. According to
Polanyi, the economy is not a separate sphere of life, but rather embedded in
society and subject to social and political forces. Polanyi argues that the
market system is not a natural or inevitable outcome of human behaviour, but
rather a product of historical and social forces.
Polanyi’s theory centers on the concept of the “great
transformation,” which refers to the transition from a traditional society
to a market society. He argues that the market system emerged as a result of
deliberate state intervention in the economy, such as the enclosure of common
lands and the creation of labour markets. This process led to the
commodification of land, labour, and money, which Polanyi argues is a
fundamental violation of human nature and social norms.
Polanyi argues that the market system leads to a number of
social and economic problems, including inequality, environmental degradation,
and social dislocation. He argues that the market system requires the
exploitation of labour and resources, which leads to a race to the bottom in
terms of wages and working conditions. Furthermore, he argues that the market
system requires the constant expansion of economic activity, which leads to the
depletion of natural resources and environmental degradation.
In response to these problems, Polanyi advocates for a more
socially embedded form of economic organization. He argues for the protection
of society from the destructive effects of the market system through the
establishment of social safety nets, the regulation of markets, and the
promotion of collective forms of ownership and control.
Overall, Polanyi’s theory of economic sociology provides a
critical perspective on the functioning of market societies, and argues for the
importance of social and political factors in shaping economic outcomes.
Q6. Define Development. Explain its various approaches.
Ans6 Development can be defined as a process of economic,
social, and political transformation that leads to improvements in people’s
well-being and overall quality of life. This can include improvements in
standards of living, access to education and healthcare, and the expansion of
political freedoms and human rights.
There are several approaches to development, including:
Modernization approach: This approach emphasizes the
adoption of Western-style institutions, technologies, and values as a means of
promoting economic growth and development. It often involves large-scale
investment in infrastructure and industrialization, and assumes that
traditional societies are inherently backward and in need of modernization.
Dependency approach: This approach emphasizes the role of
international economic structures in perpetuating poverty and underdevelopment
in developing countries. It argues that developing countries are dependent on
developed countries for access to markets and technology, and that these
relationships are exploitative.
Human development approach: This approach emphasizes the
importance of improving people’s capabilities and opportunities as a means of
promoting development. It focuses on issues such as access to education,
healthcare, and political rights, and emphasizes the importance of empowering
individuals and communities.
Post-development approach: This approach challenges the
assumptions of traditional approaches to development, arguing that they are
based on Western-centric models and do not take into account the diversity of
human experience. It emphasizes the importance of local knowledge and
practices, and argues for a more diverse and decentralized approach to
development.
Sustainable development approach: This approach emphasizes
the importance of balancing economic development with environmental
sustainability. It argues that economic growth must be pursued in a way that
does not harm the natural environment or deplete natural resources, and that
development must be pursued in a way that is socially just and equitable.
Overall, development is a complex and multifaceted process
that can be approached in a variety of ways. Each approach has its strengths
and weaknesses, and the most effective approach will depend on the specific
context and goals of development efforts.
Q7. Write Short Notes of any two of the following :
(a) Domestic mode of Production
Ans7 a The domestic mode of production is a term used by
Marxist scholars to describe a type of economic organization that existed in
pre-capitalist societies. In this mode of production, production is primarily
organized around the household, with family members responsible for producing
goods and services for their own use or for exchange within their community.
The domestic mode of production is characterized by a lack
of wage labour and a lack of separation between the spheres of production and
consumption. This means that goods and services are produced and consumed
within the same social unit, such as a family or village, rather than being
produced for sale on the market.
In the domestic mode of production, the division of labour
is based on gender and age, with men typically engaged in activities such as
hunting, fishing, and trade, while women are responsible for tasks such as
agriculture, cooking, and childcare. This gendered division of labour is often
reinforced by cultural and religious norms.
The domestic mode of production is often contrasted with the
capitalist mode of production, which is characterized by wage labour, market
exchange, and the separation of production and consumption. According to
Marxist scholars, the transition from the domestic mode of production to the
capitalist mode of production was a key moment in the history of human
societies, marking the emergence of a new economic system based on exploitation
and class conflict.
Today, the domestic mode of production is still found in
some parts of the world, particularly in rural areas of developing countries
where subsistence agriculture and traditional crafts continue to be important
economic activities.
(b) Socialism
Ans7 b Socialism is a political and economic ideology that
advocates for collective ownership of the means of production and the creation
of a classless society in which wealth and resources are distributed according
to need rather than profit. Socialism emerged as a response to the perceived
injustices of capitalism, including the exploitation of workers, widening
economic inequality, and environmental degradation.
There are several different strands of socialism, each with
its own set of beliefs and practices. Some of the key features of socialism
include:
Collective ownership: In a socialist society, the means of
production (such as land, factories, and natural resources) are owned and
controlled collectively by the workers or the community as a whole, rather than
by private individuals or corporations.
Economic planning: In a socialist economy, economic activity
is planned and coordinated by the state or by democratically elected councils.
This is in contrast to a capitalist economy, in which production and
distribution are primarily guided by market forces.
Social welfare: Socialism places a strong emphasis on social
welfare, and aims to provide all citizens with access to basic needs such as
healthcare, education, and housing.
Democracy: Socialism is often associated with the promotion
of democracy and worker self-management, with the aim of creating a more
participatory and equal society.
Socialism has been implemented in a variety of forms in
different countries around the world, with varying degrees of success. Examples
of socialist countries include the former Soviet Union, Cuba, and Venezuela.
However, socialism has also been the subject of criticism and controversy, with
some arguing that it is incompatible with human nature and individual liberty.
(c) Peasants
Ans7 c Peasants are rural farmers who live and work on small
plots of land. They are a social group that has played an important role in
human history, particularly in pre-industrial societies where agriculture was
the primary means of subsistence. Peasants typically work with simple tools and
rely on family labour and traditional knowledge to cultivate crops and raise
animals.
Peasantry has been an important social formation throughout
history, particularly in feudal societies, where peasants were subject to the
lord of the manor and often had little control over their own lives or
livelihoods. However, the emergence of capitalist agriculture and the growth of
industrialization in the 19th century led to the decline of traditional peasant
societies in many parts of the world.
Today, the term “peasant” is often used to refer
to small-scale farmers in developing countries, particularly those who practice
subsistence agriculture and are not integrated into global markets. Peasants
often face a range of challenges, including landlessness, poverty, and
marginalization from political and economic power.
However, peasants have also been the subject of political
mobilization and resistance, particularly in the context of struggles for land
reform and agrarian reform. Peasant movements have played an important role in
many social movements around the world, including the Landless Workers Movement
in Brazil and the Zapatista movement in Mexico.
Overall, peasants remain an important social group in many
parts of the world, and their struggles for land, labour rights, and political
power continue to shape the dynamics of social and economic change.