Economics Unit 4 – Free enterprise capitalism

Free enterprise capitalism Voluntary exchange Profit motive Economic freedom Private property rights Competition – businesses attract consumers; consumers obtain the best products at lowest prices 7.1 – competition and market structures Laissez-faire – philosophy that government should not interfere with business activities Market structure – nature and degree of competition among firms in the same…

Herbert Marcuse: One-Dimensional Man

Herbert Marcuse (1898-1979) Socialist philosopher and German-Jew that fled World War II Germany and immigrated to the USA Wrote One-Dimensional Man to explain why widespread communist revolution had not happened One-Dimensional Man (1964) Capitalism uses advertising, consumerism, mass media, entertainment industry as a means of social control- produces conformity in what people desire, think Created…