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Capitalism

Capitalism . Kyle and Peter C. What is it?. Definition. Economic and social system characterized by free markets, private property, and individualism . Who cares?. Good Civics- our system Interrelated to numerous debate topics- they economy, social issues, international relations

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Capitalism

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  1. Capitalism Kyle and Peter C

  2. What is it?

  3. Definition • Economic and social system characterized by free markets, private property, and individualism

  4. Who cares? • Good Civics- our system • Interrelated to numerous debate topics- they economy, social issues, international relations • http://www.youtube.com/watch?v=V6c7Vw6R33E

  5. Types • Types- state based (mixed, and crony), laissez faire • http://www.youtube.com/watch?v=ZqWh31qyXBw

  6. People • Thinkers- • Adam Smith • The Austrian School of Economics • Ayn Rand • Think tanks- Cato, Ludwig Von Mises Institute, Mercatus Institute, Independent Institute, Future of freedom foundation etc. • What do Political Parties have to say?

  7. The Role of the Economist • Normative vs. descriptive • Large debate in the literature • Determines nature of interventions

  8. Good • Peter C

  9. Bad

  10. Nature of the Argument • Maybe not overall problematic- but mixed economy necessary • http://www.youtube.com/watch?v=sy9FRli7ODg • Distinct from central planning as the norm • Different ways to suggest the unfettered system is flawed

  11. Central Planning • We have individuals like this….. • http://www.youtube.com/watch?v=ERENCqOHJCA

  12. Ethics • Patriarchy- who are the bread winners? • Racism- socio-economic divide • Calculation- nature of individual views and means to and end of production • Social Services- Welfare • Xenophobia- scapegoating immigrations • Worker exploitation- sweat shops • Individualism means classes and social groups don’t have rights • http://www.youtube.com/watch?v=GFrleONrYuU

  13. Poverty • Rich and poor cap- strive for greatness- developing countries exposed to globalization • Good for who- the corporation or the individual? • Socio economic conditions can be precursor to terrorism- reaction to asymmetric nature of hegemonic capitalism • Distribution of wealth- The rich must live more simply so that the poor may simply live. • Corporations create shanty towns- displace local populations, overcrowd labor markets, low wages

  14. War • International imperialism in the name of liberalism and for resources such as oil • Military industrial complex- war is a racket • System demand global security apparatus • Global rise of the rest- hegemonic conflict

  15. Health Care • http://www.youtube.com/watch?v=Vy_OOMhzKrg • Obama Care attempts to address market failures- pre-exiting conditions, insurance, limited youth involvement • Globalization- disease spread- bi pharma limits access to poor countries • Think of incentive of hospitals- preforms many surgery's, use and buy expensive machines, decisions are not always medical

  16. Growth • http://www.youtube.com/watch?v=Py7OHW3HELk • Infinite? • 08 recession- lack of regulation • Boom and Bust cycles- creative destruction

  17. Environment • No regulation for biz practices- having the only goal of productivity • Industrial Agriculture

  18. Alternatives • Dedev • More regulated society • Socialism • New system? • System Sustainability

  19. Thinkers • Mixed Economy- Keynes, Paul Krugman • Marxism- Karl Marx

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