Econ test 2

Econ test 2 - Econ Test 2 Article o The Enlightenment was...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ Test 2 Article o The Enlightenment was during Newton’s time o We are emotional creatures first and foremost Karl Marx o Voted man of the millennium o Communist Manifesto “The history of all hitherto existing in society is the history of class struggle” Essence of communism that says it is a constant class struggle Gathered data about capitalism and documented the loss of life in industries o In 1867, Das Kapital (Capital- Vol I) Just as there are evolutions in the biological world, there are evolutions in the economic world Start out with tribes- chaos 1. Feudalism Have a pecking order in society with a few people at the top and many people serving them An absolutely necessary state for all societies will go through Withing each economic system are the seeds to its own distruction o It is too ridged and won’t stay together 2. Marx said that capitalism is a necessary stage for society to go through (2 kinds) Laissez-Faire Capitalism o Thought of by Smith o Very efficient- it generates wealth for people o Problem is- overtime you will get Monopoly Capitalism Monopoly Capitalism o Raise prices for goods and services o Lower wages Marx believes in a “Labor Theory of Value” This will be labor saving technology Creates a reserved army of the unemployed o (people who want to work but cannot find jobs- discouraged workers) Workers will be exploited o Exploitation- it is a class struggle It is a struggle between the Bourgeoisie (middle class) and the Proletariat (Workers) The workers will throw off their chains and socialism comes around 3. Socialism “dictatorship of the working class” Is the working class more noble than the bourgeoisie
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4. Communism
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

Econ test 2 - Econ Test 2 Article o The Enlightenment was...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online