The Beginnings of Capitalism
To begin, we will look at whether Adam Smith believed in government intervention for education, minimum wages, etc.
The short answer is no. The long answer I will explain in class.
Second, we will go over any questions you may have from your reading.
Before 1750, Britain, and the rest of Europe, had a Traditional Economy. Simply put, this includes subsistence farming and small cottage industry. First of all, what do these mean?
Why would these place limits on the progress of a country?
Why did a laissez-faire approach help the economy?
Lastly, we will discuss the possible effects to the Japanese Economy from the earthquake, and discuss the Stock Market in the process.
Lastly, I will have you work on "Explore the Issues" on page 113. Please do questions 1,2,3, and 5b. Also, for question 1, ignore Dickens.