[INTS 1500] - Midterm Exam Guide - Ultimate 62 pages long Study Guide!
7 Feb 2017
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As you get more money, your choices go up: more money, more choices, less money, less choices. What those in poverty share in common: poverty is not traditional. We think that their societies have always been poor. Look farther back, and they did not used to be this bad: result of insecurity. Gov"t has to provide public goods such as education. Adam smith: capitalism used in order to raise everyone up in society, not privilege some. We cant predict the future, we just try to see why things are the way they are. Neoclassic very narrow how does the market work. Political economist broad looks at al spectrums: karl marx and the contradictions of capitalism ch. 3 (ipd 51-81: thorstein veblen and the predatory nature of contemporary capitalism ch. Anyone that spoke about karl marx was immediately under suspicion. Marx: saw people struggling for work wages, and said we need to change this.
