Question

In: Economics

How are social relationships in production similar to social relationships in consumption and how are they...

How are social relationships in production similar to social relationships in consumption and how are they different?

Solutions

Expert Solution

In terms of similarity, social relationships in production are similar to consumption when there is power. The more power you have the more production is undertaken by way of labour and capital and there is more consumption. Thus social relationships in production and consumption increase as power increases and people interact more to gain customers and consume more. One has to transact and work professionally and handle several verticals of production and avail consumption power.

In terms of difference, social relationships in production are important to determine the level of goods in the market as forces of market determine the relationships. Whereas in terms of consumption, social relationships are increasingly strained as man tries to acquire as much as possible, gain wealth and alienate himself. Especially in terms of conspicous consumption when luxury is showed off to display economic power. Over here there are forced social relationships or none at all.


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