Exam Identifications

Exam Identifications - Exam Identifications Marxism The...

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Exam Identifications Marxism The philosophical theory of economics and history derived from the writings of Karl Marx Marxism is the system of socialism of which the dominant feature is public ownership of the means of production, distribution, and exchange. Karl Marx states that the oppression of the working class will eventually lead to a revolution. His system of socialism has the “working class” as equals to the employers. This is significant because Marxism is a socialist idea that provided the underpinnings for communism in the USSR and Cuba. This really affects us as citizens because the US has been continually trying to stop the spread of communism in these countries. In socialism, most of the transactions result from the forcible redistribution of wealth, from producer to consumer. In other words, the government takes some form of wealth from one party and gives it to another party. Fixed Exchange Rate A fixed exchange rate maintains a country’s currency within a narrow range of value. With a fixed exchange rate, a currency’s value corresponds to either the value of another countries currency, to a collective accounting of other national currencies, or to a standard measure of value, such as gold. Countries with fixed exchange rates are thought of as having poorly developed
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This note was uploaded on 04/17/2008 for the course ITS 201 taught by Professor Copp during the Spring '07 term at Miami University.

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Exam Identifications - Exam Identifications Marxism The...

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