Geography 2410A/B Lecture Notes - Lecture 2: Equal Opportunity, Walmart, Blu-Ray
25 Feb 2014
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Lecture 2: capitalism: explained, pros, cons, canada"s economic class structure, class myths (january 21, class as personal attributes, class as geographical. Capitalism explained: economic system, means of production all/mostly privately own and operated for profit (land, labour, captal/materials) Supply and demand of free market determine: production, distribution, prices, goods. Mixed economy (canada) market place: a capitalist economy in which government actively engages in managing, investing, profiting and restricting the, production (domestic businesses: tariffs and taxes, distribution, prices. Political left versus political right: a question of the role of government in the economy. Spend surplus on social programs: less privatization, lower taxes, return surplus, more privatization. Cons: rewards individual initiative (when rich give back, efficiency has a price (homogeneity over, efficiency (costing costs) Prices (fair and competitive, allowing profit for everything now) If it doesn"t make money, it is not worth looking at investors whopper vs big mac) Self-organizing: rewards risk takes (investors, competition rewards efficiency, competition rewards innovation.
