Monday, January 22, 2018

E2 INDIVIDUALS AND BUSINESSES IN FREE MARKETS: 12.E3b The government’s evolving role in protecting property rights, regulating working
conditions, protecting the right to bargain collectively, and reducing discrimination in the
workplace has attempted to balance the power between workers and employers. This role
shifts in response to government’s need to stimulate the economy balanced against the need to
curb abusive business practices.
12.E3c The freedom of the United States economy encourages entrepreneurialism. This is an
important factor behind economic growth that can lead to intended consequences (e.g., growth,
competition, innovation, improved standard of living, productivity, specialization, trade,
outsourcing, class mobility, positive externalities) and unintended consequences (e.g.,
recession, depression, trade, unemployment, outsourcing, generational poverty, income
inequality, the challenges of class mobility, negative externalities.).
12.E3d A degree of regulation, oversight, or government control is necessary in some markets
to ensure free and fair competition and to limit unintended consequences of American
capitalism. Government attempts to protect the worker, ensure property rights, and to regulate
the marketplace, as well as to promote income equality and social mobility, have had varied
results.





OPEN NOTES EXAM ON WEDNESDAY, 
1-24-2018 - PLAN ACCORDINGLY


Watch: Journalist John Stossel examines how people and corporations "freeload" and the psychology behind the concept.

(DVD shown in class)