Economics 2150A/B Study Guide - Quiz Guide: Michael Peroutka, Henry Paulson, American Philosophy

• School: Western University
• Department: Economics
• Course: Economics 2150A/B
• Professor: Colin Denniston

Document Summary

Henry paulson: raw capitalism is dead as defined by american businesses (the american dream). The american business concept focuses solely on making profit for the shareholder. Its success is a [perverse] lie and has resulted in the degradation of ecosystem services. Still progress is defined in a way that you are successful as a society when gdp of your society is high and growing. Concerning that definition the us is a very successful society. The american philosophy of what the economy is, is just one type. Also have to look at how economy is viewed from a different perspective such as. Netherlands has been shifting to the american definition. Quality of life: health, trust in society, education, safety. Economic systems are served by financial services complex, where aim should be to serve the economy; macro economy business economy local economy. We will mainly focus on the business sector.