Capitalism_2006 - Economic Systems Mgmt 120 / Lynn Economic...

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Unformatted text preview: Economic Systems Mgmt 120 / Lynn Economic Systems Do markets exist? Why dont they work well in Africa? When did capitalism begin? Whats the difference between a garage sale and eBay? What makes capitalism work? Why read Marx today? Markets Markets = Voluntary exchange Aalsmeer, The Netherlands Aalsmeer, The Netherlands International Flower Market Aslsmeer, Netherlands 20 million flowers $5 million Markets Open! November 9, 1989 April 30, 1995 Two Loved and Hated, Misunderstood Economists Adam Smith Karl Marx and Friedrich Engels What books did they write? Who believed capitalism would stagnate? Who was more optimistic about workers? Who despised corporations? Who would be most displeased with the US economy? with surprises Smith Capitalism will stagnate once a country becomes wealthy Capitalism will grind down the moral and intellectual capabilities of workers Corporations breed negligence and do more harm than good Marx and Engels...
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Capitalism_2006 - Economic Systems Mgmt 120 / Lynn Economic...

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