Americans held a wide variety of opinions about the capitalist system because each American had a different role in society and the system affected them in different ways. ... Capitalism was though to be a perfect fit for American ideas because it was a system that was designed to work on a basis of supply and demand. ... The central idea with Capitalism that came out of the second Industrial Revolution was that all people of society would act in a way that would benefit everyone and that under no circumstances act for only their own best interests. ... Big business owners would never agre...

• Word Count: 2825
• Approx Pages: 11
• Grade Level: Undergraduate

During the 1990s, literature on the international political economy was dominated by the idea of globalization. ... Liberals argue that trade benefits everyone because it helps people concentrate on what they are best at (the formal version of this argument is the theory of ˜comparative advantage'). ... Comparative advantage (a state's most efficient production) varies from state to state (for example, Argentina may be better at beef farming than textiles). ... The internationalization of economic activity in Europe first took off in the fifteenth and sixteenth centuries, wit...

• Word Count: 7309
• Approx Pages: 29
• Grade Level: Graduate

However, it was realized during the early 1990's that the transition to market economies and democracies was laborious thus causing declines in production and inflation in the region. ... During the same period, China underwent several transformations, which included opening up the economy to the west and increasing foreign investment. ... The side effects of western influences in the market caused society to seek changes in the political system leading to the cultural- revolution. ... Countries in Africa and Latin America chose to end many of their planned socialism projects and focus...

• Word Count: 4711
• Approx Pages: 19
• Has Bibliography
• Grade Level: Undergraduate