10 Ducats (1621), minted as circulating currency by the Fugger Family.
1. Summary
Economy is the way people use the environment to meet their material needs.
In society, the economy is divided into two systems.
Capitalism and socialism.
Capitalism is a society in which the process of producing and reproducing the material basis of human life is in its own form, capital-based production. Thus, this capitalism is an unusual economic structure of modern industrial societies established through the Industrial Revolution.
Capitalism developed gradually from Europe in the 16th century and spread throughout the 19th and 20th centuries.
Socialism is an ideology that values the interests of society as a whole, rather than guaranteeing as much as possible the will and freedom of individual human beings.
Capitalism and socialism.
Capitalism is a society in which the process of producing and reproducing the material basis of human life is in its own form, capital-based production. Thus, this capitalism is an unusual economic structure of modern industrial societies established through the Industrial Revolution.
Capitalism developed gradually from Europe in the 16th century and spread throughout the 19th and 20th centuries.
Socialism is an ideology that values the interests of society as a whole, rather than guaranteeing as much as possible the will and freedom of individual human beings.
2. What was interesting/What did we learn
Reading this article, I learned that there is a statistical distribution measure called 'Gini coefficient' to measure inequality between the values of frequency distribution and to represent income distribution among a national resident.
And I thought only China or North Korea was a socialism country in Asia, but I could see that Vietnam and Laos were also socialism countries.
And I thought only China or North Korea was a socialism country in Asia, but I could see that Vietnam and Laos were also socialism countries.
3. Discussion point
Socialism is the most ideal idea for all people in a country to live without economic inequality. But actually, people in socialim countries are living relatively poor lives. So, why are the governments of that country still maintaining a socialim country?
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