What is economics? Economy is the creation, transformation and realization of value. Human economic activities are the activities that create, transform and realize values and meet the needs of human material and cultural life. After the article introduced the history of economy, I can see the progress of economy. The article illustrates how the capitalist economy develops from the aspects of Commodities, Money, Labour power, Means of production and production. There are also critics of the inequality that capitalism has led to. When it comes to economy, socialist economy is also indispensable. The article lists Asia, Europe, LatinAmerica and United State as the embodiment of socialist economy. Everything is a double-edged sword, and there are critics of the socialist economy as well.At the end of the article there are many ways to measure a country's economy.I really like this part.
2. What was interesting/what did you learn
I am very interested in 'the use value and exchange value' of the article. I think the use value is the usefulness or utility of the goods, that is, the goods can meet certain needs of people properties. Exchange value is the proportion or relationship of the quantity exchanged between the use value and another exchange value. The use value and value of goods are unified, and the existence of value should be based on the existence of the use value, which is the material undertaker of the value. The use value and exchange value of commodities are different and contradictory. First of all, use value is the natural attribute of commodities and reflects the relationship between human and nature. Exchange value is the social attribute of commodity and reflects the social relationship between commodity producers. Secondly, use value is the eternal category, exchange value is the category of commodity economy. Thirdly, the existence of use value is not based on the existence of value. Finally, commodity producers produce goods for exchange value, not for use value; Commodity consumer is to obtain use value. Only through exchange can the contradiction between the use value and value of goods be solved.
3. Discussion Point
The article put forward a lot of explanation to socialist economy and capitalist economy. Which economic situation do you think can better guide the development and progress of modern society? Or which economic development situation do you prefer?
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