Critically Thinking Chapter 14 and 15

Critically Thinking Chapter 14 and 15 - Michael Samuels...

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Michael Samuels 12/5/07 Sociology 001 Critically Thinking Chapter 14 1. International trade, international investment and savings, and international conflicts are all things that can and do affect the United States economy. Trade deficit and the falling US dollar against other strong currencies are worsening the current economic situation in the country. Low investment and a trade deficit will eventually put us into a recession and if we go into a recession then perhaps people would lose their jobs, maybe I would lose mine. Recessions effect all in an economy. 2. The differences are clear between socialism and capitalism. In socialism, there are checks and balances created by the government so all citizens are equal and provided the same basic rights, where as in capitalism instead of the government running certain things, private enterprise takes control and provides those things as a service. People in both systems have a means of acquiring everything the only difference is the how and the amount. The cold war was more about
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Critically Thinking Chapter 14 and 15 - Michael Samuels...

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