ECO445 Global economics


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Essay 2 QUESTION 1: We have read 3 chapters in “Capitalism” by Paul Bowles. Based on these 3 chapters please explain:

1. What are the main characteristics of capitalism? What has helped capitalism become the most resilient economic system? How is it that capitalism has evolved through time and countries. Why? (chapter 1)

2. In chapter 2, we analyzed the “positive side” of capitalism. We have review a number of authors (and their academic work) who have defended that capitalism is the best system because it is “neutral and free”. Please refer to those authors to explain how their ideas and books support this positive view.

3. In chapter 3, we analyzed the “negative side” of capitalism. We have review a number of authors who have explained taht capitalism is“unjust and unstable.” Please refer to those authors to explain how their ideas and books support this negative view.

QUESTION 2: In Good and Bad Capitalism, the authors explain in chapter 1 the importance of entrepreneurship as, maybe, the most important factor for economic growth. Please READ chapter 1 and elaborate an essay in which you explain how/who/what/where/why/reasons that make entrepreneurship that important for economic growth. Make sure you incorporate all the ideas and reasons explained in this chapter 1 to make your essay coherent and appealing.

QUESTION 3: In Good and Bad Capitalism (chapter 4), the authors presented that there are four different types of capitalism.

  • Please explain which are these 4 types: main characteristics and countries with each particular capitalistic system.
  • While explain these 4 types, elaborate which one of these 4 types of capitalism you find more “interesting.” Explain your reasons: it migh be because of your country, your state, your personal preference? explain which is this type all about and why you find it interesting

QUESTION 4: The last book we have covered is Capitalism 4.0 by Anatole Kaletsky (chapters 2 and 3) who explains that there are FOUR AGES OF CAPITALSIM.

Please elaborate an essay in which you present and expain economic growth and the evolution of capitalism based on the after effect of a financial crisis.

      1. Please explain what is the difference between an economic crisis and a financial crisis and how and why it affects capitalism
      2. Please explain what is the difference between a crisis in and crisis of capitalism
      3. Please explain what have been the main “eras” that have seen a crisis OF capitalism. The chapter does an elaborated work on analyzing the different types of capitalism putting into perfective political events, economic events, social events and international events that contributed to the evolution. The chapter elaborates on the people and actions who have shaped the transition and why. Make sure you properly refer to all the main points.
      4. 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
      5. What about the 2020 crisis. Do you think a new type of capitalism has evolved? Please explain
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