Reading Notes August 29th

Reading Notes August 29th - Carter Whittington Jordan Radke...

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Unformatted text preview: Carter Whittington Jordan Radke Soci 415 29 August 2011 Reading Notes: August 29 th Lindblom suggests a difference between a market and a market system. He starts off by pointing out all the different types of economies and governments such as that of the US, China, and Russia. He says that each is important in understanding the pros and cons of a market system and how it both affects and is affected by the people around it. Finally, he talks about how democracies only exist in market systems, but market systems can exist in non-democratic societies as well as how in some ways the market system takes away from democratic values. A market is something that you see across all economic systems. It is somewhere that a person can buy or sell a good such as a pair of shoes whereas a market system is where the buying and selling of these goods creates value. To make it more clear he uses an example that shows there is no control or central authority regulating the market completely, it is each part and...
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Reading Notes August 29th - Carter Whittington Jordan Radke...

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