Assignment:
1. We have analyzed the readings for Paul Bowlesin which he presented the ideas of capitalism and its evolution through in the past centuries.
a. Please explain what are the main characteristics of capitalism
b. Please use these characteristics to explain the pros and conspresentenced by specific authors.
c. Please explain WHY and HOWcapitalism has been evolving from 1870's to today. Make sure you explain how and why capitalism has changed from mercantilism, to industrial capitalism, finance capitalism, imperial capitalism, national capitalism and global capitalism
2. In Good and Bad Capitalism,the authors explain the importance of entrepreneurship as another factor for economic growth. Please explain:
a. We have explained that entrepreneurs are the missing piece to the economic growth puzzle. Based on this chapter, please explain what are the FOUR main factorsthat according to traditional economistscontribute to economic growth? And Please explain de debate
b. We have covered what the authors of the book understood as "entrepreneurs", the important role of innovation, and how does entrepreneurship contribute to economic growth and what are the elements that help entrepreneurship.
c. In Chapter 3, we have covered what drives economic growth. Please make sure you summarize the debate we covered in class.
d. In chapter 4 we have analyzed four different types of capitalism. Please PICK ONEand explain its pros and cons.
3. Anatole Kaletsky in his book Capitalism 4.0explains that there are FOUR AGES OF CAPITALSIM.
a. These authors have presented an innovative way to understand economic growth and the evolution of capitalism based on the after effect of a financial crisis.
i. Please explain what is a financial crisisand how and why it affects capitalism
ii. Please explain what is the difference between a crisis in or of capitalism
iii. Please explain what have been the "eras" hadhave seen a crisis OF capitalism
iv. Based on the authors the Great Recession of 2008 rocked the foundation of the capitalist system. Please explain why they make such a claim and explain if you believe that this financial crisis created a crisis In or OF capitalism.
Readings:
1. Capitalism 4.0- The Birth of a New Economy
By Anatole Kaletsky
2. Capitalism- How to think about capitalism
By Paul Bowles
3. Good Capitaluism Bad Capitalism and the economics of growth and prosperity
By William J. Baumol and Robert E. Litan