Question: Your textbook presents an argument about how capitalist economies work, and therefore how society ought to be organized. What is the overarching argument? What assumptions

Your textbook presents an argument about how capitalist economies work, and therefore how society ought to be organized. What is the overarching argument? What assumptions does the textbook make to explain how markets function? Do you find these assumptions reasonable (why or why not)? Do you think the theories of firms and markets presented in the textbook provide accurate descriptions of reality (why or why not)? Authors/videos from the second half of the course present alternative arguments about how capitalist economies work, and therefore how society ought to be organized. How is their approach different? According to these authors/videos, what is wrong with or missing from the textbooks depiction of how markets operate? What is wrong with or missing from the textbooks depiction of how firms operate? How do the arguments they present cast capitalism in a different light? Provide specific examples from various texts/videos where possible. Finally, which set of arguments do you find more persuasive? Take a stand. Explain your position.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!