- Incentive
- To produce what people want
- To acquire skills so that you can work
- Use resources efficiently so they are not used up
- Productivity produces more profits for the individual
- You can become extremely wealthy
- Goods and Services
- A wide variety is available to consumers
- Competition allows for better quality goods and lower prices
- SELF-RELIANCE (think Invisible Hand)
As with all ideologies, however, it is not without it's risks. This week, we will be looking at some key faults to Capitalism and how those key faults directly led to the development of "new and better" economic systems.
This week in class...
Tuesday:
- Notes on the cons of capitalism
- Group Presentation - Grass roots movements to combat the development of capitalism in Industrial Great Britain
Wednesday:
- Present the presentations you so lovingly created yesterday in class
- Writing Assignment II for both classes- How the heck do I write that? These two documents have some good guidelines to follow
Thursday:
- Writing rough drafts in the comput-ay-tor lab. I will have it open by 8 if you don't think you can finish it by 10 in regular class time.
- Rants will be tomorrow so that you can write your assignments
Friday:
- Rants: Derek and Shalan
- Living conditions of citizens under Capitalism
- Discussion on Monopolies - Should monopolies be illegal in a market economy or is it just following your self-interest?
- How does a monopoly form
- Modern day monopolies - do they exist?
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