25 Aug economics

-answer all 3 questions in mini-essay formats
-there are a number of sub-questions within each general question to guide you in writing the mini questions, you have to answer each of them.
– refer to readings I will provide
– the required length for each answer is 2-2.5 pages double spaced 12 pt font.
– use only sources from the articles provided.

Question 1- Economist from different theoretical backgrounds all argue that capitalism has been an incredibly revolutionary system ( hint, remember Bowles Friedman and backers debate)
A. using chapters 1 and 3 describe where it led to growth and how uneven it has been
B. discuss why it has been so uneven and often unequal between countries and regions
C. describe ways in which capitalism is prone to crises, in particular, give 3 examples of how the 2008 economic crisis and or the current pandemic have exposed the contradictory dynamics within capitalism that led to several crises around production, labor relations, and the role of the government.
feel free to use this outside sources for sub-question C, but provide references https://hbr.org/2020/04/what-will-u-s-labor-protections-look-like- after-coronavirus

Question 2- we have learnt that the process and extraction of surplus have taken different forms historically
A. define class and surplus and explain the relationship between them give at least 2 examples of this relationship from 2 different economic systems
B. the production and distribution of goods and services in u.s has not always been organized along capitalist lines, nor is all of it even today. give examples from the major non-capitalist systems of production and distribution both today and 2 centuries ago. describe briefly how they worked.
C. if it were not necessary for the dominant class to devote resources to controlling the producer class, how would society be different? what occupations would no longer exist, or be greatly reduced in numbers

Question 3- chapter 7 in the textbook presents different social structures of accumulation and discusses the class structures in u.s at different moments of history. the chapter also prevents various statistics to illustrate the evolution of the wellbeing and standard of living of Americans over time. using this chapter and other materials you find useful to discuss
A. how economic and social mobility has evolved over time with respect to income and wealth distribution in u.s
B. how the meaning and composition of the “middle class” have changed over time in the u.s
C. and how the organization of the American economy has changed over time.

– make sure you back up your answers to the 2 parts of questions 3 with good evidence and solid logical arguments also make sure you take factors like class position/relationship, gender, and race in your answers.

some videos below you can use in your answers

https://www.youtube.com/watch?v=GTQnarzmTOc
https://www.youtube.com/watch?v=wXIyPktGLu0&t=181s
https://www.youtube.com/watch?v=AnrBQEAM3rE
https://www.youtube.com/watch?v=ah23Mm0XlNk
https://www.youtube.com/watch?v=OcA1v2n7WW4&t=117s
https://www.youtube.com/watch?v=whVf5tuVbus

the textbook if your able to find it is
Understanding Capitalism: Competition, Command and Change 4th Edition by Samuel Bowles, Richard Edwards and Frank Roosevelt (2017), New York: Oxford University Press.