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LECTURE 3 ON 1 - LECTURE 3 ON Watched movie on Stanford...

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LECTURE 3 ON 1/17/11 Watched movie on Stanford Prison Study Took place in 70’s Students apply for paid psychological study $15 a day Students experience entire prison life The U.S. Economy Defining Capitalism in Adam-Smith style Present economy is far removed form the ideals of free enterprise and competition among equal private capitalists Concentration of Corporate Wealth Megamergers- the then largest mergers in US history have occured in the last 15 years… damn Consequences o Increased corporate power o Job loss o Nonproductive o Increased corp. debt o Centralization of capital Contradictions of Capitalism (Marx) The inevitability of monopolies A lack of centralized planning Demands for labor saving machinery Maximization of profits Control of state by the wealthy Defining Interlocking Directories! Concentration of wealth Collective efforts are necessary for progressive social policies to prevail Protests, mobilizations o Occupy wall street
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