- We discussed what makes a good representative.
- We reviewed The History of Capitalism.
- We reviewed Adam Smith as the father of modern capitalism.
- We also reviewed Karl Marx as the father of Marxist philosophy, especially in economies.
- Remember that capitalism and socialism are ways of thinking and systems. They can work, and do work, in many ways together and against one another. In the U.S. we are generally a capitalist economic system with aspects of socialist understandings.
- Capitalism and Marxism are economic philosophies and systems. Systems, as such, cannot fix human problems. They can help us interpret and respond to things, but they are just systems. Both have been successful in certain ways and both have failed in certain ways. How they are implemented in no small way impacts how successful they are.
- Economies are important and the understanding of how class and wealth are distributed is part of cultures across the globe. Good citizens know these systems and can speak about them, formulate understandings and opinions, and converse with others intelligently about the benefits and drawbacks of each.
- None. Make sure you have your 5 good resources by Thursday for work on our PBL assignment.