Unit+2

= UNIT 2: =

__**Different Political Groups:**__
media type="custom" key="7157975" width="150" height="150"

Jefferson's Presidency:
media type="custom" key="7381489"

Constitution Project:
media type="custom" key="7304619"

Capitalism:
Laissez faire= to led do. hands off. Examples : Food stamps, social security. unemployment benefits, etc...The got also regulates business, trade, minimum wage etcc.. the got taxes individuals and businesses.
 * The businesses are run by individuals or group not by the gov.
 * Coorporate dominance in the citizens lives.
 * __Beliefe:__ The people of capitalism are very greedy. The companies just look and protect themselves. "things are about to fall apart so let me take mine"
 * __Economic system__ in which companies are privately owned as opposed to gov run.
 * Capital: money and property. A system based on money and propery. Individuals and private businesses compete.
 * Free market capitalism: little gov intervention. How much should the gov be involved in the economy?
 * The core principles come from Adam Smith's book the Wealth of Nations 1776. Adam Smith argued for free markets, little gov intervention, and he also argued for something called the invisible hand.
 * Invisible Hand= a term used to describe the self-regulating nature of the marketplace. the invisible hand was created by the conjunction of the forces of self-intrest (MOTIVATION) competition, also supply and demand. A theory of almost it happes on its own.
 * __Elements of the Economy:__ consumer dollars $, workers/unions, means of production are privately owned, businesses, banks, governemnt rules & regulations (?)
 * __Communism__: the gov controls the means of production m not private businesses.
 * __Economy__? - the management of sources such as a country or place depending on imports, exports, money, and businesses. Mr: Max - system by which a gropup of people organizes its resources, labor, production., goods, and currency.
 * __Opinion of capitalism as an economic system-__ i believe that capitalism is another way to say survival of the fittest. If you do not plan and manage your money correctly then you will not survive in the economic system. The positive is that capitalism gives anyone the right to start there own business if they have the movtivation and focus to accomplish it. It is beneficial to run your own company rather than be controlled by the gov and not let the business corporates make the dicisions they believe is right.The negative is that companies tend to get greedy as opposed to working with each other to help the economy grow and prosper. The ability to control ones own business has a negative side to it because the company could get out of hand with there money management and go bank rupt which really hurts the economy.
 * America practices a __MIXED ECONOMY__- combines elements of capitalism and socialism- sometimes referred to as Welfare Capitalism.