Sociology is the scientific study of society, patterns of social relationships, social interaction, culture of everyday life. It is a social science that uses various methods of empirical investigation and critical analysis to develop a body of knowledge about social order and change or social evolution. While some sociologists conduct research that may be applied directly to social policy and welfare, others focus on refining the theoretical understanding of social processes. Subject matter ranges from the micro-sociology level of individual agency and interaction to the macro level of systems and the social structure; the different traditional focuses of sociology include social stratification, social class, social mobility, secularization, sexuality and deviance. As all spheres of human activity are affected by the interplay between social structure and individual agency, sociology has expanded its focus to other subjects, such as health, economy and penal institutions, the Internet, social capital, the role of social activity in the development of scientific knowledge.
The range of social scientific methods has expanded. Social researchers draw upon a variety of quantitative techniques; the linguistic and cultural turns of the mid-20th century led to interpretative and philosophic approaches towards the analysis of society. Conversely, the end of the 1990s and the beginning of the 2000s have seen the rise of new analytically and computationally rigorous techniques, such as agent-based modelling and social network analysis. Social research informs politicians and policy makers, planners, administrators, business magnates, social workers, non-governmental organizations, non-profit organizations, people interested in resolving social issues in general. There is a great deal of crossover between social research, market research, other statistical fields. Sociological reasoning predates the foundation of the discipline. Social analysis has origins in the common stock of Western knowledge and philosophy, has been carried out from as far back as the time of ancient Greek philosopher Plato, if not before.
The origin of the survey, i.e. the collection of information from a sample of individuals, can be traced back to at least the Domesday Book in 1086, while ancient philosophers such as Confucius wrote about the importance of social roles. There is evidence of early sociology in medieval Arab writings; some sources consider Ibn Khaldun, a 14th-century Arab Islamic scholar from North Africa, to have been the first sociologist and father of sociology. The word sociology is derived from both Greek origins; the Latin word: socius, "companion". It was first coined in 1780 by the French essayist Emmanuel-Joseph Sieyès in an unpublished manuscript. Sociology was defined independently by the French philosopher of science, Auguste Comte in 1838 as a new way of looking at society. Comte had earlier used the term social physics, but that had subsequently been appropriated by others, most notably the Belgian statistician Adolphe Quetelet. Comte endeavoured to unify history and economics through the scientific understanding of the social realm.
Writing shortly after the malaise of the French Revolution, he proposed that social ills could be remedied through sociological positivism, an epistemological approach outlined in The Course in Positive Philosophy and A General View of Positivism. Comte believed a positivist stage would mark the final era, after conjectural theological and metaphysical phases, in the progression of human understanding. In observing the circular dependence of theory and observation in science, having classified the sciences, Comte may be regarded as the first philosopher of science in the modern sense of the term. Comte gave a powerful impetus to the development of sociology, an impetus which bore fruit in the decades of the nineteenth century. To say this is not to claim that French sociologists such as Durkheim were devoted disciples of the high priest of positivism, but by insisting on the irreducibility of each of his basic sciences to the particular science of sciences which it presupposed in the hierarchy and by emphasizing the nature of sociology as the scientific study of social phenomena Comte put sociology on the map.
To be sure, beginnings can be traced back well beyond Montesquieu, for example, to Condorcet, not to speak of Saint-Simon, Comte's immediate predecessor. But Comte's clear recognition of sociology as a particular science, with a character of its own, justified Durkheim in regarding him as the father or founder of this science, in spite of the fact that Durkheim did not accept the idea of the three states and criticized Comte's approach to sociology. Both Auguste Comte and Karl Marx set out to develop scientifically justified systems in the wake of European industrialization and secularization, informed by various key movements in the philosophies of history and science. Marx rejected Comtean positivism but in attempting to develop a science of society came to be recognized as a founder of sociology as the word gained wider meaning. For Isaiah Berlin, Marx may be regarded as the "true father" of modern sociology, "in so far as anyone can claim the title."To have given clear and unified answers in familiar empirical terms to those theor
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system, competitive markets. In a capitalist market economy, decision-making and investment are determined by every owner of wealth, property or production ability in financial and capital markets, whereas prices and the distribution of goods and services are determined by competition in goods and services markets. Economists, political economists and historians have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice; these include welfare capitalism and state capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition and state-sanctioned social policies; the degree of competition in markets, the role of intervention and regulation, the scope of state ownership vary across different models of capitalism.
The extent to which different markets are free as well as the rules defining private property are matters of politics and policy. Most existing capitalist economies are mixed economies, which combine elements of free markets with state intervention and in some cases economic planning. Market economies have existed under many forms of government and in many different times and cultures. Modern capitalist societies—marked by a universalization of money-based social relations, a large and system-wide class of workers who must work for wages, a capitalist class which owns the means of production—developed in Western Europe in a process that led to the Industrial Revolution. Capitalist systems with varying degrees of direct government intervention have since become dominant in the Western world and continue to spread. Over time, capitalist countries have experienced consistent economic growth and an increase in the standard of living. Critics of capitalism argue that it establishes power in the hands of a minority capitalist class that exists through the exploitation of the majority working class and their labor.
Supporters argue that it provides better products and innovation through competition, disperses wealth to all productive people, promotes pluralism and decentralization of power, creates strong economic growth, yields productivity and prosperity that benefit society. The term "capitalist", meaning an owner of capital, appears earlier than the term "capitalism" and it dates back to the mid-17th century. "Capitalism" is derived from capital, which evolved from capitale, a late Latin word based on caput, meaning "head"—also the origin of "chattel" and "cattle" in the sense of movable property. Capitale emerged in the 12th to 13th centuries in the sense of referring to funds, stock of merchandise, sum of money or money carrying interest. By 1283, it was used in the sense of the capital assets of a trading firm and it was interchanged with a number of other words—wealth, funds, assets, property and so on; the Hollandische Mercurius uses "capitalists" in 1654 to refer to owners of capital. In French, Étienne Clavier referred to capitalistes in 1788, six years before its first recorded English usage by Arthur Young in his work Travels in France.
In his Principles of Political Economy and Taxation, David Ricardo referred to "the capitalist" many times. Samuel Taylor Coleridge, an English poet, used "capitalist" in his work Table Talk. Pierre-Joseph Proudhon used the term "capitalist" in his first work, What is Property?, to refer to the owners of capital. Benjamin Disraeli used the term "capitalist" in his 1845 work Sybil; the initial usage of the term "capitalism" in its modern sense has been attributed to Louis Blanc in 1850 and Pierre-Joseph Proudhon in 1861. Karl Marx and Friedrich Engels referred to the "capitalistic system" and to the "capitalist mode of production" in Capital; the use of the word "capitalism" in reference to an economic system appears twice in Volume I of Capital, p. 124 and in Theories of Surplus Value, tome II, p. 493. Marx did not extensively use the form capitalism, but instead those of capitalist and capitalist mode of production, which appear more than 2,600 times in the trilogy The Capital. According to the Oxford English Dictionary, the term "capitalism" first appeared in English in 1854 in the novel The Newcomes by novelist William Makepeace Thackeray, where he meant "having ownership of capital".
According to the OED, Carl Adolph Douai, a German American socialist and abolitionist, used the phrase "private capitalism" in 1863. Capitalism in its modern form can be traced to the emergence of agrarian capitalism and mercantilism in the early Renaissance, in city states like Florence. Capital has existed incipiently on a small scale for centuries in the form of merchant and lending activities and as small-scale industry with some wage labour. Simple commodity exchange and simple commodity production, which are the initial basis for the growth of capital from trade, have a long history. Classical Islam promulgated capitalist economic policies such as free banking, their use of Indo-Arabic
Sociology of race and ethnic relations
The sociology of race and ethnic relations is the study of social and economic relations between races and ethnicities at all levels of society. This area encompasses the study of systemic racism, like residential segregation and other complex social processes between different racial and ethnic groups; the sociological analysis of race and ethnicity interacts with other areas of sociology such as, but not limited to, stratification and social psychology, as well as with postcolonial theory. At the level of political policy, ethnic relations is discussed in terms of either assimilationism or multiculturalism. Anti-racism forms another style of policy popular in the 1960s and 1970s. At the level of academic inquiry, ethnic relations is discussed either by the experiences of individual racial-ethnic groups or else by overarching theoretical issues. Marx described society as having nine "great" classes, the capitalist class and the working class, with the middle classes falling in behind one or the other as they see fit.
He hoped for the working class to rise up against the capitalist class in an attempt to stop the exploitation of the working class. He blamed part of their failure to organize on the capitalist class, as they separated black and white laborers; this separation between Blacks and Whites in America, contributed to racism. Marx attributes capitalism's contribution to racism through segmented labor markets and a racial inequality of earnings. Weber laid the foundations for a micro-sociology of ethnic relations beginning in 1906. Weber argued that biological traits could not be the basis for group foundation unless they were conceived as shared characteristics, it was this shared perception and common customs that create and distinguish one ethnicity from another. This differs from the views of many of his contemporaries who believed that an ethnic group was formed from biological similarities alone apart from social perception of membership in a group. W. E. B. Du Bois is well known as one of the most influential black scholars and activists of the 20th century.
Du Bois educated himself on his people, sought academia as a way to enlighten others on the social injustices against his people. Du Bois research "revealed the Negro group as a symptom, not a cause. Du Bois believed that Black Americans should embrace higher education and use their new access to schooling to achieve a higher position within society, he referred to this idea as the Talented Tenth. With gaining popularity, he preached the belief that for blacks to be free in some places, they must be free everywhere. After traveling to Africa and Russia, he recanted his original philosophy of integration and acknowledged it as a long term vision. Booker T. Washington was considered one of the most influential black educators of the 19th and 20th centuries. Born in 1856 as a slave in Virginia, Washington came of age. Just as slavery ended, however, it was replaced by a system of sharecropping in the South that resulted in black indebtedness. With growing discrimination in the South following the end of the Reconstruction era, Washington felt that the key to advancing in America rested with getting an education and improving one's economic well-being, not with political advancement.
In 1881, he founded the Tuskegee Institute, now Tuskegee University, in order to provide individuals with an education that would help them to find employment in the growing industrial sector. By focusing on education for blacks, rather than political advancement, he gained financial support from whites for his cause. Secretly, however, he pursued legal challenges against disfranchisement of blacks. Patricia Hill Collins is a Distinguished University Professor Emerita at the University of Maryland, College Park, she received her PhD in sociology in 1984 from Brandeis University. Collins was the president-elect for the American Sociological Association, where she was the 100th president and the first African-American woman to be president of the organization. Collins is a social theorist whose work and research focuses on race, social class and gender, she has written a number of articles on said topics. Collins work focuses by looking at issues through the lens of women of color. In her work, she writes "First, we need new visions of what oppression is, new categories of analysis that are inclusive of race and gender as distinctive yet interlocking structures of oppression".
Eduardo Bonilla-Silva is a professor of sociology at Duke University and is the 2018 president of the American Sociological Association. He received his PhD in 1993 from University of Wisconsin–Madison, where he met his mentor, Professor Charles Camic, of which he said "Camic believed in me and told me, just before graduation, that I should stay in the states as I would contribute to American sociology." Bonilla-Silva did not start off his work as a "race scholar," but was trained in class analysis, political sociology, sociology of development. It was not until the late 1980s when he joined a student movement calling for racial justice at the University of Wisconsin that he began his work in race. In his book, Racism without Racists, Bonilla-Silva discusses less overt racism, which he refers to as "new racism," which disguises itself "under the cloak of legality" in order to accomplish the same things, he discusses "color-blind racism,", when people go off the basis that we have achieved equality and deny past and present discriminations.
Denise Ferreira da Sil
Bibliography of sociology
This bibliography of sociology is a list of works, organized by subdiscipline, on the subject of sociology. Some of the works are selected from general anthologies of sociology. Sociology studies society using various methods of empirical investigation to understand human social activity, from the micro level of individual agency and interaction to the macro level of systems and social structure. Comte, Auguste. Discours sur l'ensemble du positivisme. Translated by J. H. Bridges. Cambridge University Press. ISBN 978-1-108-00064-2. Marx, Karl; the German Ideology. Including Theses on Feuerbach and introduction to The critique of political economy. Prometheus Books. ISBN 978-1-57392-258-6. Marx, Karl. Das Kapital. Gardners Books. ISBN 978-1-934568-43-9. Weber, Max. Die protestantische Ethik und der'Geist' des Kapitalismus. Translated by Peter Baehr. Wells. Penguin. ISBN 978-0-14-043921-2. Puts forward a thesis that Puritan ethic and ideas had influenced the development of capitalism; however religious devotion was accompanied by rejection of mundane affairs including economic pursuit.
Why was that not the case with Protestantism? Weber addresses that paradox in that work. Durkheim, Emile. De La Division Du Travail Social. New York: Free Press. ISBN 978-0-684-83638-6. —. Le Suicide; the Free Press. ISBN 0-684-83632-7. A case study of suicide rates amongst Catholic and Jewish populations, distinguished sociological analysis from psychology or philosophy. A major contribution to structural functionalism.—. Cladis, Mark S. ed. Les formes élémentaires de la vie religieuse. Translated by Carol Cosman. Oxford: Oxford University Press. ISBN 978-0-19-954012-9. —. Les Règles de la Méthode Sociologique. Transl. by W. D. Halls with an introduction by Steven Lukes. New York, N. Y.: Free Press. ISBN 978-0-02-907940-9. Demography is the statistical study of human population, it encompasses the study of the size and distribution of these populations, spatial and/or temporal changes in them in response to birth, migration and death. Thomas Malthus, An Essay on the Principle of Population with A Summary View, Introduction by Professor Antony Flew.
Penguin Classics. ISBN 0-14-043206-X. Gunnar Myrdal and Alva Myrdal. Crisis in the Population Question Economic sociology attempts to explain economic phenomena, it concentrates on the roles of social relations and institutions. Tocqueville, Alexis De. Zunz, Olivier, ed. Democracy in America. Translated by Arthur Goldhammer; the Library of America. ISBN 1-931082-54-5. —. The Old Regime and the French Revolution. Translated by Stuart Gilbert. New York: Anchor Books. Durkheim, Emile. De La Division Du Travail Social. New York: Free Press. ISBN 978-0-684-83638-6. Simmel, George; the Philosophy of Money. Translated by David Frisby. Psychology Press. ISBN 978-0-415-34172-1. Weber, Max. Economy and Society. Berkeley: University of California Press. Polanyi, Karl; the Great Transformation: the political and economic origins of our time. Beacon Press. ISBN 978-0-8070-5643-1. Hirschman, Albert O. "Rival Interpretations of Market Society: Civilizing, Destructive, or Feeble?". Journal of Economic Literature. 20: 1463–1484. Granovetter, Mark.
"Economic Action and Social Structure: The Problem of Embeddedness". The American Journal of Sociology. 91: 481–510. Doi:10.1086/228311. White, Harrison C. 2002. Markets from Networks: Socioeconomic Models of Production. Princeton: Princeton University Press Smelser and Richard Swedberg. 2005. The Handbook of Economic Sociology. Boltanski, Luc; the New Spirit of Capitalism. Verso. Boltanski, Luc. On Justification; the Economies of Worth. Princeton University Press. Industrial sociology is the sociology of technological change, labor markets, work organization, managerial practices and employment relations. Daniel Bell The Coming of Post-Industrial Society Harry Braverman Labor and Monopoly Capital: The Degradation of Work in the Twentieth Century Michael Burawoy Manufacturing Consent: Changes in the Labor Process under Monopoly Capitalism Ronald P. Dore British factory, Japanese factory. Hannigan, John A.. Environmental sociology: a social constructionist perspective. London: Routledge. ISBN 978-0-415-11255-0.
Argues that a society's willingness to recognize and solve environmental problems depends more upon the way these claims are presented by a limited number of interest groups than upon the severity of the threat they pose. Schnaiberg, Alan. Environment and society: the enduring conflict. Caldwell, NJ: Blackburn. ISBN 1-930665-00-8
Social network analysis
Social network analysis is the process of investigating social structures through the use of networks and graph theory. It characterizes networked structures in terms of nodes and the ties, edges, or links that connect them. Examples of social structures visualized through social network analysis include social media networks, memes spread, information circulation and acquaintance networks, business networks, social networks, collaboration graphs, disease transmission, sexual relationships; these networks are visualized through sociograms in which nodes are represented as points and ties are represented as lines. These visualizations provide a means of qualitatively assessing networks by varying the visual representation of their nodes and edges to reflect attributes of interest. Social network analysis has emerged as a key technique in modern sociology, it has gained a significant following in anthropology, demography, communication studies, geography, information science, organizational studies, political science, social psychology, development studies and computer science and is now available as a consumer tool.
Social network analysis has its theoretical roots in the work of early sociologists such as Georg Simmel and Émile Durkheim, who wrote about the importance of studying patterns of relationships that connect social actors. Social scientists have used the concept of "social networks" since early in the 20th century to connote complex sets of relationships between members of social systems at all scales, from interpersonal to international. In the 1930s Jacob Moreno and Helen Jennings introduced basic analytical methods. In 1954, John Arundel Barnes started using the term systematically to denote patterns of ties, encompassing concepts traditionally used by the public and those used by social scientists: bounded groups and social categories. Scholars such as Ronald Burt, Kathleen Carley, Mark Granovetter, David Krackhardt, Edward Laumann, Anatol Rapoport, Barry Wellman, Douglas R. White, Harrison White expanded the use of systematic social network analysis. In the study of literature, network analysis has been applied by Anheier and Romo, Wouter De Nooy, Burgert Senekal.
Indeed, social network analysis has found applications in various academic disciplines, as well as practical applications such as countering money laundering and terrorism. Homophily: The extent to which actors form ties with similar versus dissimilar others. Similarity can be defined by gender, age, educational achievement, values or any other salient characteristic. Homophily is referred to as assortativity. Multiplexity: The number of content-forms contained in a tie. For example, two people who are friends and work together would have a multiplexity of 2. Multiplexity has been associated with relationship strength. Mutuality/Reciprocity: The extent to which two actors reciprocate each other's friendship or other interaction. Network Closure: A measure of the completeness of relational triads. An individual's assumption of network closure is called transitivity. Transitivity is an outcome of the situational trait of Need for Cognitive Closure. Propinquity: The tendency for actors to have more ties with geographically close others.
Bridge: An individual whose weak ties fill a structural hole, providing the only link between two individuals or clusters. It includes the shortest route when a longer one is unfeasible due to a high risk of message distortion or delivery failure. Centrality: Centrality refers to a group of metrics that aim to quantify the "importance" or "influence" of a particular node within a network. Examples of common methods of measuring "centrality" include betweenness centrality, closeness centrality, eigenvector centrality, alpha centrality, degree centrality. Density: The proportion of direct ties in a network relative to the total number possible. Distance: The minimum number of ties required to connect two particular actors, as popularized by Stanley Milgram's small world experiment and the idea of'six degrees of separation'. Structural holes: The absence of ties between two parts of a network. Finding and exploiting a structural hole can give an entrepreneur a competitive advantage; this concept was developed by sociologist Ronald Burt, is sometimes referred to as an alternate conception of social capital.
Tie Strength: Defined by the linear combination of time, emotional intensity and reciprocity. Strong ties are associated with homophily and transitivity, while weak ties are associated with bridges. Groups are identified as'cliques' if every individual is directly tied to every other individual,'social circles' if there is less stringency of direct contact, imprecise, or as structurally cohesive blocks if precision is wanted. Clustering coefficient: A measure of the likelihood that two associates of a node are associates. A higher clustering coefficient indicates a greater'cliquishness'. Cohesion: The degree to which actors are connected directly to each other by cohesive bonds. Structural cohesion refers to the minimum number of members who, if removed from a group, would disconnect the group. Visual representation of social networks is important to understand the network data and convey the result of the analysis. Numerous methods of visualization for data produced by social network analysis have been presented.
Many of the analytic software have modules for network visualization. Exploration of
The business cycle known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product around its long-term growth trend. The length of a business cycle is the period of time containing a single boom and contraction in sequence; these fluctuations involve shifts over time between periods of rapid economic growth and periods of relative stagnation or decline. Business cycles are measured by considering the growth rate of real gross domestic product. Despite the often-applied term cycles, these fluctuations in economic activity do not exhibit uniform or predictable periodicity; the common or popular usage boom-and-bust cycle refers to fluctuations in which the expansion is rapid and the contraction severe. The first systematic exposition of economic crises, in opposition to the existing theory of economic equilibrium, was the 1819 Nouveaux Principes d'économie politique by Jean Charles Léonard de Sismondi. Prior to that point classical economics had either denied the existence of business cycles, blamed them on external factors, notably war, or only studied the long term.
Sismondi found vindication in the Panic of 1825, the first unarguably international economic crisis, occurring in peacetime. Sismondi and his contemporary Robert Owen, who expressed similar but less systematic thoughts in 1817 Report to the Committee of the Association for the Relief of the Manufacturing Poor, both identified the cause of economic cycles as overproduction and underconsumption, caused in particular by wealth inequality, they advocated government intervention and socialism as the solution. This work did not generate interest among classical economists, though underconsumption theory developed as a heterodox branch in economics until being systematized in Keynesian economics in the 1930s. Sismondi's theory of periodic crises was developed into a theory of alternating cycles by Charles Dunoyer, similar theories, showing signs of influence by Sismondi, were developed by Johann Karl Rodbertus. Periodic crises in capitalism formed the basis of the theory of Karl Marx, who further claimed that these crises were increasing in severity and, on the basis of which, he predicted a communist revolution.
Though only passing references in Das Kapital refer to crises, they were extensively discussed in Marx's posthumously published books in Theories of Surplus Value. In Progress and Poverty, Henry George focused on land's role in crises – land speculation – and proposed a single tax on land as a solution. In 1860 French economist Clément Juglar first identified economic cycles 7 to 11 years long, although he cautiously did not claim any rigid regularity. Economist Joseph Schumpeter argued that a Juglar cycle has four stages: Expansion Crisis Recession Recovery Schumpeter's Juglar model associates recovery and prosperity with increases in productivity, consumer confidence, aggregate demand, prices. In the 20th century and others proposed a typology of business cycles according to their periodicity, so that a number of particular cycles were named after their discoverers or proposers: The Kitchin inventory cycle of 3 to 5 years The Juglar fixed-investment cycle of 7 to 11 years (often identified as "the" business cycle The Kuznets infrastructural investment cycle of 15 to 25 years (after Simon Kuznets – called "building cycle" The Kondratiev wave or long technological cycle of 45 to 60 years Some say interest in the different typologies of cycles has waned since the development of modern macroeconomics, which gives little support to the idea of regular periodic cycles.
Others realize. Since 1960, World GDP has increased by fifty-nine times, these multiples have not kept up with annual inflation over the same period. Social Contract collapses for nations when incomes are not kept in balance with cost-of-living over the timeline of the monetary system cycle - until hardships/populism/revolution are always seen in late capitalism; the Bible and Hammurabi's Code both explain economic remediations for cyclic sixty-year recurring great depressions, via fiftieth-year Jubilee debt and wealth resets. Thirty major debt forgiveness events are recorded in history including the debt forgiveness given to most european nations in the 1930s to 1954. There were great increases in productivity, industrial production and real per capita product throughout the period from 1870 to 1890 that included the Long Depression and two other recessions. There were significant increases in productivity in the years leading up to the Great Depression. Both the Long and Great Depressions were characterized by market saturation.
Over the period since the Industrial Revolution, technological progress has had a much larger effect on the economy than any fluctuations in credit or debt, the primary exception being the Great Depression, which caused a multi-year steep economic decline. The effect of technological progress can be seen by the purchasing power of an average hour's work, which has grown from $3 in 1900 to $22 in 1990, measured in 2010 dollars. There were similar increases in real wages during the 19th century. A table of innovations and long
Business is the activity of making one's living or making money by producing or buying and selling products. Put, it is "any activity or enterprise entered into for profit, it does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors."Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates; the proprietor is taxed on all income from the business. The term is often used colloquially to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.
Forms of business ownership vary by jurisdiction, but several common entities exist: Sole proprietorship: A sole proprietorship known as a sole trader, is owned by one person and operates for their benefit. The owner may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, whether from operating costs or judgments against the business. All assets of the business belong to a sole proprietor, for example, a computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor. Partnership: A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business; the three most prevalent types of for-profit partnerships are general partnerships, limited partnerships, limited liability partnerships. Corporation: The owners of a corporation have limited liability and the business has a separate legal personality from its owners.
Corporations can be either government-owned or owned, they can organize either for profit or as nonprofit organizations. A owned, for-profit corporation is owned by its shareholders, who elect a board of directors to direct the corporation and hire its managerial staff. A owned, for-profit corporation can be either held by a small group of individuals, or publicly held, with publicly traded shares listed on a stock exchange. Cooperative: Often referred to as a "co-op", a cooperative is a limited-liability business that can organize as for-profit or not-for-profit. A cooperative differs from a corporation in that it has members, not shareholders, they share decision-making authority. Cooperatives are classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy. Limited liability companies, limited liability partnerships, other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections.
In contrast, unincorporated businesses or persons working on their own are not as protected. Franchises: A franchise is a system in which entrepreneurs purchase the rights to open and run a business from a larger corporation. Franchising in the United States is widespread and is a major economic powerhouse. One out of twelve retail businesses in the United States are franchised and 8 million people are employed in a franchised business. A company limited by guarantee: Commonly used where companies are formed for non-commercial purposes, such as clubs or charities; the members guarantee the payment of certain amounts if the company goes into insolvent liquidation, but otherwise, they have no economic rights in relation to the company. This type of company is common in England. A company limited by guarantee may be without having share capital. A company limited by shares: The most common form of the company used for business ventures. A limited company is a "company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company."
This type of company is common in many English-speaking countries. A company limited by shares may be a publicly traded company or a held company A company limited by guarantee with a share capital: A hybrid entity used where the company is formed for non-commercial purposes, but the activities of the company are funded by investors who expect a return; this type of company may no longer be formed in the UK, although provisions still exist in law for them to exist. A limited liability company: "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, limitations on ownership transfer", i.e. L. L. C. LLC structure has been called "hybrid" in that it "combines the characteristics of a corporation and of a partnership or sole proprietorship". Like a corporation, it has limited liability for members of the company, like a partnership, it has "flow-through taxation to the members" and must be "dissolved upon the death or bankruptcy of a member".
An unlimited company with or without a share capital: A hybrid entity, a company where the liability of members or shareholders for the debts of the company are not limited. In this case, the doctrine of a veil of incorporation does not apply. Less common types of companies are: Companies formed by letters patent: Most corpor