Social Stratification When it comes to the growth and progress on an economy there are numerous aspects that play their part. This can be seen in the fall of many economies where they neglected a single aspect that was seen to be minute. Even so,…
Since 19th century, the economists tried to identify and explain the major causes that lead to inequality but always obtaining a scarce consensus. The first was Marx in his book ‘The Capital) that pointed exploitation as the main cause, where people in upper classes get…
From early civilization to modern-day society, the economy and currency exchange have ruled who is in power and how lives are led. Germany from the close of World War II to today has proven to be no different. There are clear trends through the documented…
Many people in the U.S. have gotten used to our consumerist society and endlessly partake in it. We can declare to being constantly bombarded by visual stimuli, bear witness to the long lines for limited-edition collaborations between brands, splurging on clothes in-stores or online, and…
The novelist Fyodor Dostoevsky was known as an advocate for the impoverished in Russian society, however he had strong criticisms to socialism and its implications. Socialism is defined as a “political and economic theory of social organization which advocates that the means of production, distribution,…
Since the moment we were born, our consumerist society has been making an enormous effort to convince us that we’re not good enough simply by being the way we are. The advertising industry has made us believe that the only way to feel comfortable with…
As soon as our nation experiences an economic downturn the media floods us with stories about protestors marching on Wall Street. We turn on our TV and every news station shows images of signs saying things like “Wall Street is the Real Weapons of Mass…
Senator Joseph Mccarthy of Wisconsin gained political power through the capitalization of society’s fear of communism in the 1950’s by falsely accusing innocent people of political corruption, these actions created a deep-rooted problem that is still ingrained in the government, entertainment industry, and American history….
The problem with financial capitalism appears both in the CEO of RJR Nabisco and the private equity people like Henry Kravis. The capitalistic system allowed them to leverage more capital from high risk sources (bonds and loans) which are part of this system. This phenomenon…
From reading Cocktail Party Economics, there are a lot of concepts which I had found interesting, shocking, and even obvious. The idea in the first few chapters is to just give an introduction about the vocabulary of an economist. This is where I learnt that…
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