W6.1 April 8 (Mon) (정채빈 Chaebhin Jeong)

 1. 1. Summary: 

The ancient economy was primarily based on subsistence agriculture. The exchange of goods took place through social relationships. The Babylonians' economic ideas developed into today's legal and administrative systems. The trades of the Middle Ages were similar to what we call today's economy. Many explorers, such as Columbus, attempted to conquer other lands, and these eventually developed into trade. 

Capitalism is an economic and social system in which capital and non-labor factors or means of production are privately controlled. The origins of modern markets date back to the Roman Empire, where business organizations were introduced by merchants of the time. (loan, exchange rate, etc.)

The economic system, which was expressed as mercantilism, changed to capitalism and reached a commercial stage with the establishment of the East India Company.

Capitalist economics argues that goods, money, labor force, means of production, and production develop through the interaction of five items. Individuals participate in the economy as consumers, workers, and investors, providing both money and labor. It is an important entity because the situation changes depending on what I buy, what I sell, and where I work. What drives a capitalist economy is the constant search for profit. From a company's perspective, it is most important to use resources in the most productive way to increase profits.

2. What was . interesting/what did you learn: 

Are capitalism and socialism positive ways for society? When approached theoretically, it is clear that these methods have a positive impact on how society develops. However, countries currently operating under a socialist system do not generally have a positive perception of their international status. I don't know what's right or wrong, but I'm skeptical about whether it's right to rule the country under these precautions


3. Discussion Point:

What are your thoughts on a socialist country?

The capitalist system is becoming stronger, but what are the problems with this?


Comments

  1. KimMinJeongApril 12, 2024 at 12:04 AM

    Personally, I don't think my opinion on socialism is appropriate for modern society. The theory of socialism itself has a clear significance in supplementing the limitations of capitalism or satisfying the areas that capitalism cannot. However, I don't think that the human psychology is complex and complex to apply them, so I don't think it fits the society in which they live.

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  2. 김세향 Sehyang KimApril 12, 2024 at 3:12 AM

    In a capitalist system, economic resources and power can be concentrated on a small number of owners or businesses. This can deepen the imbalance between income and property, which can lead to increased income inequality. In addition, this income inequality can lead to economic inequality, leading to social division. As the gap between a small number of wealthy people and a large number of poor people widens, social tensions and conflicts can increase.

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