INDUSTRIAL CAPITALISM
- Based on the ideas of Adam Smith's economic liberalism:
- Economic relations guided by self-interest and the search for the maximum profit.
- Produces and consumers interact in the market according to the law of supply and demand.
- Means of production are in the hands of a few called capitalism and the rest of the people, the proletanas or workers have to work to survive.
- The State doesn't have to intervene in economy. It only has to guarantee free economic relationships and private property.
- The need for financing the big industries contributed to the development of banking activities.
Banks facilitated payments, gave loans and were also direct investors in industrial activities.
-Development of public limited companies, whose capital was divided into stockes to distribute risk.
Them Paqui has explained the capitalism. Finally she has put in the blackboard the project of Lucía and Manal.
Bye!
3 comments:
Hello Eva! I think your journal is a bit incomplete. You have forgotten things that Paqui has explained us today about stocks. To earn money, people divided their bussines into stocks. Paqui has explained us with an example of telefonica. If you want to learn more or to include something more in your journal, I've found an interesting and very short video that explains how the stock exchange works. I leave the link here:
https://www.youtube.com/watch?v=F3QpgXBtDeo
See you in class!
Hello,
As Fátima has said, your journal is very short. The only thing you did is copying what I wrote on the blackboard and we studied other things, like what Fátima told you. And you didn't include the glossary either.
Here you have my corrections:
Today in class of Social Sciences Paqui has copied a summary of Industrial capitalism on the blackboard and she has explained it.
Producers and consumers interact in the market according to the law of supply and demand.
• Means of production are in the hands of a few called capitalists and the rest of the people, the proletarians or workers have to work to survive.
-Development of public limited companies, whose capital was divided into stocks to distribute risk.
After this Paqui has explained (the) capitalism. Finally she has showed the project of Lucía and Manal on the witheboard. ç
You have to make a bigger effort. Bye.
Fátima, I can't see the video. The link doesn't work. Can youadd it again? Thanks.
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