RSM100Y1 Lecture Notes - Invisible Hand, Laissez-Faire, Fiscal Policy
Document Summary
Each term: participate in 1 study at the behavioural lab, write a paper analyzing a research article. Savings, spendings, consumer spendings towards food and gifts. Management studies interact with another participate, collaborate on tasks productivity, personality, conflicts. First term: monday sept 16th - friday, november 22nd. Capitalism: a set of rules, a legal system/framework that allows all enterprise to take place, permits free trade, wealth creation. Wealth of a nation was measured by somebody who ruled by power (king/queen) not a zero-sum game; even when somebody gets really rich, everybody benefits from the added benefits. Compeittion is a good thing; selection mechanism for the best to be selected. Wisdom of the masks; to solve a problem, let the market progress and fix itself. Gov"n has to be involved, to a certain extent to the enterprise and vice versa (balance) capitalism is open for abuse, cannot be restraint (rules have to be clear)
