Unit_7 - Global Economy and Interdependence: Part I ISS315...

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ISS 315 Global Economy and Interdependence: Part I
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OUTLINE A. What are Economic Institutions? B. Economic Systems in the World: 1. Capitalism 2. Welfarism 3. Socialism C. The Global Economy in Transition D. International Trade and Theoretical Discussion E. Hegemony F. Evolution of World Economic Systems
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A. What are Economic Institutions? Social Organization of Production, Distribution, and Consumption of Goods and Services in a Society 1. Production of Goods 2. Distribution 3. Consumption
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B. Economic Systems in the World 1. Capitalism - Means of Production are owned by Individuals - Production is for profit - Large amount of Social Stratification - Individuals take care of their own basic needs 2. Welfarism - Means of Production are owned by Individuals - Production is for profit - Social Stratification exists, but not to the same degree as with Capitalism - State is responsible for Basic Needs 3. Socialism - Means of Production are owned by the state - Production for use not profit - No Social Stratification - State is responsible for Basic Needs
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The Global Economy in
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Unit_7 - Global Economy and Interdependence: Part I ISS315...

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