Fourth week posting by Hyeon Jong, Song(송현종)

Fourth week posting: Economy

Name: Hyeon Jong, Song

Date: September 24th, 2016

 

http://www.veganaustralia.org.au/impact_of_a_vegan_agricultural_system_on_the_economy

1)summarize

This posting deals with economy. And I summarize it. Economy is developed from social relationship between people and since about 650 BC. We should know capitalism and socialism in order that understand economy. Capitalism is economical and social system been privately controlled capital and the means of production. Capitalism is developed from 8th century. And the economics of capitalism is developed by five items. Commodities, money, labour power, means of production and production. Capitalism generate a profit for capitalist owned by means of production and worker through the less exploitation. But capitalism encounter criticism. Critics argue that capitalism is related unfair distribution of power and wealth. Socialism advocates equitable distribution of production and resources. But Socialism has encounter criticism. Critics argue that socialism is inefficient and has a loss of political and economic freedoms.

 

2) My feeling

I realize economy only after then. I don’t understand capitalism and socialism ever. But I understand capitalism and socialism exactly. I want to know economy from Piotr Konieczny’s class deeply.

 

3) Question

And I have a question for you. What kind of economics do you advocate? Capitalism or socialism.