Week4 : Economy Heo Seon Yeong 허선영

 

1.summary

Economy is when goods or services are produced and people use them to meet their needs. In the past, the economy, which began with barter exchanges, was found with cuneiforms and certificates and lists. The conquest of the new land created trading facilities and stock exchanges and controlled trade using tariffs and taxes to ensure their own interests.
 Labor is also a commodity in capitalism. It works through goods and money, labor, production means, and production. These capitalism developed in Europe and expanded throughout the world. Capitalism is often seen as the beginning of a post-mortem. Traditional handicraft techniques in the Industrial Revolution were ignored and agriculture was mechanized. After the Industrial Revolution, huge industries began to monopolize the economy and various laws were created to prevent this monopoly. Capitalism is under fire because of the unfair distribution of wealth and power that inevitably arises. However, it is certain that capitalism has helped our society grow and personal income increase this much.
 Socialist countries also entered the 21st century and began turning their centrally centered economy to the market. Despite the socialist countries of China and Vietnam, the economy is free.

2.interesting point

Sociologists criticize capitalism as having to control its contradictions through public policy because of its unplanned production and economic direction. In the past, if the government set the way goods are produced and sold, the market is as open as capitalism. It was interesting to me to think, 'Can socialists only criticize capitalism?'

 

3.discussion point

Mentalism is a widely used concept, but its meaning is not clearly defined. It would be fair to say the concept or meaning of mercantilism in their own way.