Globalization- Globalization is the process in which people, ideas and goods spread throughout the world, spurring more interaction and integration between the world's cultures, governments and economies.
Desperate plight of millions of poor people in under developed countries
few have many have not's
Concentration of Greed
Doesnt reward virtue
Defense-
All societies run on greed
The world runs on people perusing their individual interest
Great civilizations were created under capitalist systems (not by bureaucratic)
Only places where the poor have been able to rise out of poverty is where capitalism is.
no alternative way has been found, as of yet.
Reward, virtue? Never happens
Questions and thoughts- Im not really sure how i feel. i think i need to find out more about other types of government. Why capitalism? What are the benefits?
Vocab
Globalization- Process in which people, ideas and goods
GDP- Global domestic product
Market Economy-A capitalistic economic system in which there is free competition and prices are determined by the interaction of supply and demand
Capitalism- An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Laws Of Supply and demand- The law of supply states that the quantity of a good supplied (i.e., the amount owners or producers offer for sale) rises as the market price rises, and falls as the price falls. Conversely, the law of demand (see demand) says that the quantity of a good demanded falls as the price rises, and vice versa.
Means Of Production-the facilities and resources for producing goods.
WTO (world Trade Organization)- Is an intergovernmental organization which regulates international trade
IMF (International Monetary Funds)-Working to foster global monetary cooperation, secure financial stability,
Free Trade- international trade left to its natural course without tariffs, quotas, or other restrictions.
Fair trade- trade in which fair prices are paid to producers in developing countries.
Imports- Bring (goods or services) into a country from abroad for sale.
Exports-Send (goods or services) to another country for sale.
How do i feel about walmart? So im not 100%sure where i stand. I dont exactly have an opinion, i think kingsopers is better to be honest. better produce and meat.
Journey of a t-shirt
Bangladesh Factory Safety and the Triangle Shirtwaist Fire