Essay About Land Owners And Parts Of Land

Pol S Notes
Van Belle, Chapter 4
Economics
Reason for Govt?
Capitalism vs. Socialism
The Tragedy of the Commons
9 people can follow the rules, but if one person doesn’t, you’re screwed
Preventing the Tragedy
Enlightened Self-Interest
should prevent tragedy of the commons
Realists
Collective Action Through Govt
we have to govern what we have
Karl Marx
The Means of Production
mechanisms for transforming labor into wealth
labor is a shared resource, economic resource
Economics is the Key Variable in Politics
Marx as a Humanist
Marx and Feudalism
feud between two groups, proletariat and bourgeoisie
Mutual Dependency
between proletariat and bourgeoisie, both sides needed each other
land owners (bourgeoisie) owned the land, peasants (proletariat) worked it
Land Owners gave parts of land to peasants, peasants would pay with the crops they grew
Impact of Capitalism
Factories and Assembly Lines
Competition
Efficiency
destroyed aspects of feudalism
Four Elements of Costs
Profit
Materials
Overhead
Wages
Little bit of flexibility, can cut wages especially if theres high unemployment
Labor as Tragedy