Economics #1 - WEEK 4 ECON#1 Money Intro to Economics Global Economics GDP Gross Domestic Product which means wealth o China is now economically

Economics #1 - WEEK 4 ECON#1 Money Intro to Economics...

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WEEK 4 ECON #1 Money! Intro to Economics Global Economics GDP  Gross Domestic Product which means wealth o China is now economically, exponentially, exploding as are many states Many European countries are shrinking Economic Systems… Left to Right: The Systems There is a serious difference in ideology between the left and the right on how economic power should be distributed through the state and on the role of the government in economics o Conservative Right They want to keep things the same and conserve economic power in the hands of those who already have it (age old tradition) He called the liberal a capitalist pig They want to keep the government out of the economy and business in general as business creates the industries and jobs and wealth of the society Governments should minimize regulation and taxation of private business because it stifles growth Government should only provide a minimum of social benefits Pro-free market capitalism, pro-wealth concentration, pro- business, anti-regulation, anti-taxation, and anti-big government in general in terms of it’s economic role o Liberal Left They want to free themselves from static tradition by incorporating new knowledge to change the old ways and to free
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