USH1INTROF11

USH1INTROF11 - BasicEconomicHistory BasicEconomicHistory

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Basic Economic History Basic Economic History Since just the beginning of the 20 th  century, life in  the United States has changed dramatically.  We can see this when we look at  o Life Expectancy o Per-capita income o Level of Education o Level of violence in the U.S. and the World In sum, how you live is very different from how your  ancestors lived. It is the story behind these changes that we will be  discussing in this course.
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Why is Life Today so Different from What We Saw in  Why is Life Today so Different from What We Saw in  the Past? the Past? The key appears to be the economic system we employ. Mixed Capitalism:  An economic system  characterized by largely private ownership of the  factors of production, market allocation of  resources, and decentralized decision making.  Most  economic activities take place in the private sector  in this system, but government plays a substantial  economic and regulatory role. In sum, mixed capitalism employs both the free market  and the government to allocate resources. This course  discusses how we arrived at this system.
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This note was uploaded on 09/21/2011 for the course ECON 33974 taught by Professor Barbaraross during the Spring '09 term at Hawaii.

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USH1INTROF11 - BasicEconomicHistory BasicEconomicHistory

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