Discussion 1
Prior to beginning work on this discussion,
- Read Chapters 1 and 2 of Macroeconomics: Private and Public Choice.
- Read Chapter 7 of Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You About Economics.
For this discussion,
- Define capitalism and socialism and provide examples of countries for both structures.
- Next, discuss why capitalism and socialism are currently being spotlighted in U.S. politics giving the pros and cons to each organizational structure. Be sure to be specific and give supporting facts, not just opinions.
- Finally, address the question: Does capitalism create wealth inequality and is this necessarily a bad outcome?
Discussion 2
Prior to beginning work on this discussion,
- Read Chapters 3 and 4 of Macroeconomics: Private and Public Choice.
For this discussion you will debate with your peers the concept of increasing minimum wage.
In order to participate in a knowledgeable debate, you must have a firm understanding of each side of the issue. Your textbook discusses minimum wage in detail and like many traditional economists, for the most part, does not support increases in the minimum wage citing the negative impacts that such increases may create. Research at least two scholarly and/or credible resources (other than the Macroeconomics: Private and Public Choice text). Use factual information; do not simply document or restate opinion.
Write an initial post of at least 400 words that either supports or does not support an increase in minimum wage. Be sure to use economist lingo and to include facts and support your response with at least two scholarly and/or credible resources.
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