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Heilbroner brief notes on heilbroner, marx, schumpeter and keynes' points of view on capitalism

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Social Science
SOSC 1000
Terry Conlin

thHEILBRONER 71118 presentation on November 101 What are the principal features of a market system 2 Why do critics claim a society whose economic activities are ruled by the market will be an attentive servant of the rich but a deaf bystander to the poor pg 86 3 What are the primary problems Heilbroner sees for capitalism in the future 4 Do you believe human beings are creatures of insatiable appetites pg7677 5 What linkages can you make between Heilbroner and the current recession Answers1 The market system is the principal means of binding and coordinating the whole But markets are not the source of capitalisms energies nor of its distinctive bifurcation of authority Markets are the conduits through which the energies of the system flow and the mechanism by which the private realm can organize its tasks without the direct intervention of the public realm The market system is visible in the form of corporate manoeuvres or garish advertising The market system is highly decentralised The paradox of markets is not that they bring order out of a universe of individuals seeking only to augment their fortunes The first function of a market system is to allocate labour to those tasks that society wants filled Indeed a market system cannot exist if there are barriers that prevent this selfmotivated channelling of labour power which is why one cannot have such a system in a society of slaves serfs or centrally allocated labour
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