Course: Accounting Theory

An outline of social development

Prepared By: Dewan Mahboob Hossain

Stages
Primitive clan society Slave-owning society Feudal society Capitalistic society

Socialistic view

Prepared By: Dewan Mahboob Hossain

Primitive clan stage

Profession: hunting with stone made weapons, bow and arrow. Food: meat and fruits. Production system: everybody used to give equal labor. Collectivism. No states. No class difference. Not an advanced society. Nothing called personal property.
Prepared By: Dewan Mahboob Hossain 3

Change factors
Society was getting developed and reaching the next stage. New weapons were invented. Two different professions: hunting and animal husbandry so different professions. Later, agriculture and crafts. Animals were treated as properties. Animal breeding was possible, so, properties could be increased. Concept of personal property.
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Slave-owning society
People understood that human can also be used. People with more strength and better weapons started using the weaker ones. Slave system came. Slaves became the property of their owners. Owners could sell the slaves, could punish and kill them. Owners had the right on the ancestors of the slaves also. Slaves were tortured and several movements occurred.
Prepared By: Dewan Mahboob Hossain 5

Change factors
Slaves did not have the motivation for greater amount of production. Production processes improved but there were no increment in production. Movements from the part of the slaves were increasing. Change came- feudalism.

Prepared By: Dewan Mahboob Hossain

Feudalism
Two classes: land owners and peasants. Land was treated as property. It was the main source of production. Land is a permanent property that does not get destroyed. Land owners did not work. Peasants used to work. Peasants used to get a fixed ratio of crops from the land owners. Motivation increased. But this form was a new kind of salve society.
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Change factors
Feudal society was highly land-centered. Scientific inventions happened. People had money to go for setting mechanized industries. A new group called bourgeoisie came into existence. They wanted to set up industries. They needed labors. As the peasants working under the land owners had less purchasing power. Many peasant movements happened. French revolution in 1789 is mainly a bourgeoisie revolution. Change came: capitalistic society.

Prepared By: Dewan Mahboob Hossain

Capitalistic society
capitalism, also called free market economy, or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most of the means of production are privately owned and production is guided and income distributed largely through the operation of markets. Labor can be used. Capitalists used to hire labors. Capitalists produce only those things that can be sold. They produce anything that is saleable. But again class difference.
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