World Economics Money! Intro to Economics- Global Economics o Wealth, bank, capital, cash, mulahhh, jack, doe, green backs, pounds, dollars o GDP-gross Domestic Product How do the states and the people within them organize their economic activity to get rich? CHINA is economically exponentially exploding European states are stagnant and or even shrinking World is in great flux rn economically with movement of jobs, capital, outsourcing, new industries being created, transforming (internally or world) World Economic Systems- Left vs. Right Right o Conserve o Old school, old ways, traditions o Work hard for themselves o Keep the fruits of your labor o Doesn’t allow redistribute of wealth o Keep Government out of the economy, let the company/business run things o Keep the states’ economy growing and going o Government should not be involved in economy activities o Government should minimize regulation and taxation Stifles growth o Government should provide a minimum of social benefits o Pro-Business Left o Liberate, free from static traditions o New knowledge to change old ways o Free up economic and political power to everyone o Equitable distribution to EVERYONE o Economically EQUAL o Government should be directly involved in the business o Reduces competition o Government should be used as a tool of empowerment politically AND economically Protect its citizens and ensure some level of wealth distribution o Government should be involved in economy o Government should regulate the economy Establishing minimum wage laws
work-play safety laws environmental laws o Government should distribute wealth/taxes via social benefits Public education Welfare Unemployment Insurance Healthcare
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