The introduction part of the article captures my attention by the well organized details of the American economic development during and after the World War 1. The people of America had their hopes high that after the war, the social and especially the economic status of the…
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Further importance of the article is seen whereby various questions asked by known economists on the various causes that might have rendered the great depression inevitable by the then economic planners.
An interesting article in this chapter is about the new goods and rise of the middle class. The article gives details about how the middle class standard of life became a common phenomenon in America during the economic expansion period between 1920 and 1930. Majority of the people had the ability to acquire several products that made them live a rather comfortable life. The analysis of the different products that changed lives and had great impacts on the economy is well tackled in the article. A god example of this is the automobile. After the increase in the rate of ownership of the automobile, pressure on the government to make good roads even in the rural areas also increased as the people wanted easy movement on good roads. Construction of good roads means increased expenditure by the government. Therefore, such things explain the pressure posed on the economic stability of the country (The Roaring Twenties 432).
One concept in the article that I can relate to a topic in economics is about the supply and prices in a free market. Increased competition in the provision of goods and services in a particular market leads to reduced prices that favor the consumers especially when it comes to consumer
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(“THE ROARING TWENTIES: REQUIEM FOR LAISSEZ FAIRE CAPITALISM Book Report/Review”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1666981-the-roaring-twenties-requiem-for-laissez-faire-capitalism
(THE ROARING TWENTIES: REQUIEM FOR LAISSEZ FAIRE CAPITALISM Book Report/Review)
“THE ROARING TWENTIES: REQUIEM FOR LAISSEZ FAIRE CAPITALISM Book Report/Review”, n.d. https://studentshare.org/macro-microeconomics/1666981-the-roaring-twenties-requiem-for-laissez-faire-capitalism.
Atlas, “the giant who holds the world on his shoulders” has been equated with the citizens of a society, who are holding up the society as a functional entity. One character of the novel saying that he would advice Atlas to shrug so that the world does not continue to crush him under his weight, is the catch line of this novel.
Capitalism has dictated the rules of the game and all areas of life, economic, social or political. The talons of capitalism have captured everything in its wake. Even citizens, attempting to exercise democratic powers by joining forces together,
are undermined in its efforts to establish policies that would ultimately affect their lives and bring them common good.
This adaptation was efficiency-driven: rapidly expanding markets and science-based technologies spawned commercial opportunities which could be seized only by creating business institutions capable of handling high-volume production and distribution. The response came in the form of new "organizational capabilities" ("administrative coordination," as Chandler describes it in The Visible Hand, 1977).
His history of globalization reminds us that it is not a recent development and that its current success is not guaranteed. The first era of globalization (1870 to 1914) had many of the same characteristics as todays. There was an unprecedented cross-border movement of goods, capital, and labor.
In the book, the form of communism found on Anarres is described as "'experiment in non-authoritarian communism'" (p. 301).
By assigning this form of governance a non-authoritarian flavor, author has widened the gap between real world socialist government and the brand of communism found on Anarres.
Capitalism has destroyed the moral authority of many other institutions, and even surpassed its boundaries to touch on the private properties. Therefore, while capitalism may thrive for a certain duration at the expense of the lower class people, it eventually ends up creating some rational hostility, since it keeps damaging the social order, to a point where the people becomes defenseless and thus develops aggression towards it.
Since it is the pure version of capitalism, it is characterized by extensive feasible property. On the other hand, actually existing capitalism is not a pure version of capitalism, since one does not have feasible property (p.138).