16 chapter sixteen The Economy and Work How does change in the economy reshape society? What makes capitalist and socialist economies different? Why have the types of jobs available in the United States changed over the last fifty years? Here’s a quick quiz about the U.S. economy (Hint: All five questions have the same right answer): • Which business do 100 million people in the United States visit each week? • Which U.S. company‚ on average‚ opens a new store every day? • Which U.S. company
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Economies Traditional Economy‚ Command Economy & Market Economy Traditional Economy Definition A traditional economy is an economic system where customs‚ traditions and beliefs determine the goods and services created by the society. It is dependent on agriculture‚ hunting and gathering‚ fishing or any combination of the above. Also called a subsistence economy‚ it may involve use of barter trade instead of currency. Characteristics Traditional economies are often based on one
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SOCIALIST The word socialist was added to the Preamble by the 42nd amendment act of 1976‚ during the Emergency. It implies social and economic equality. Social equality in this context means the absence of discrimination on the grounds only of caste‚ colour‚ creed‚ sex‚ religion‚ or language. Under social equality‚ everyone has equal status and opportunities. Economic equality in this context means that the government will endeavor to make the distribution of wealth more equal and provide a decent
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the Bolvsheviks platform but also detracted against the parties platform. The Bolvshevik party was aimed at a global socialist revolution. When Lenin decided that in order to maintain the government currently in place they must make peace with Germany. He was met with resistance from his own party‚ they saw as making peace with imperialist was stopping the international socialist revolution. Instead of making peace they should revolutionize the country. (Pipes 167)
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Another explanation for the lack of socialist success was that with 80% of the population being working class and even with the many reform acts and the third reform act that added 6 million to the electorate they were still far from universal male suffrage. This would have hindered the socialist movement as it meant that there were many numbers of working class and poverty stricken men who could not vote. This is important‚ as these were the people that the socialist movement would want to appeal to
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Planned Economy: "The social good" In a planned economy‚ the factors of production are owned and managed by the government. Thus the Government decides what to produce‚ how much to produce and for whom to produce. Features: • All resources are owned and managed by the government • No consumer OR producer choice • The market forces can’t set the price for goods or services • Profit is not the main objective‚ the government aims to provide services and goods to everybody • Government decides
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On the other hand‚ socialist feminism movement appeared in the mid-60s and 70s‚ it was built on connecting patriarchy to capitalism. It focuses on how capitalism was the main tool of oppression against women‚ it does not see patriarchy as the main threat to women. There have been several definitions of socialist feminism‚ I would choose Ian Buchanan’s definition in the book “A Dictionary of Critical Theory‚” he defines it: “A synthesis of radical feminism and Marxism that challenges feminism’s neglect
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Command economy is defined in the textbook as‚ a government run economy. The government owned all industries and set quotas that favored heavy industry over the production of consumer goods and products. What advantages and disadvantages did Russians experience with a command economy? How about a market economy? One of the many disadvantages of this command economy was that supply and demand did not dictate what products would be produced. The authoritative government would determine what was to
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CHINA: BUILDING “CAPITALISM WITH SOCIALIST CHARACTERISTICS” BACKGROUND: In the beginning the core of the society was the extended family and an agricultural society. In 1949 Mao Zedong proclaimed the establishment of the “People´s Republic of China”. (PRC) CHINA UNDER COMUNISM (1949-1978) The new government nationalized the country´s banking system and brought all currency credit under centralized control. It boosted government revenues by collecting agricultural taxes. Industry and commerce
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promoted the development of the market economy in Europe. From the ending of the 19th century‚ the major capitalist countries in Europe and the United States had successively entered the stage of monopoly capitalism from the unrestricted competition of the capitalist stage. In order to get more resources‚ some capitalist countries started twice world wars. After the world war two‚ United Stated became the most powerful country in the world. And the market economy began to be developed in the all world
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