- According to the film, what are the major problems with America's economic system?
- According to the filmmaker, why do these problems in our economic system exist?
- What was your reaction to the film? How did it make you feel? Why?
- What changes to the American economic system would you recommend? Why? What effects would these changes have on our society as a whole?
- What role should the government play in regulating the economy? Which areas should the government regulate that are currently (mostly) unregulated and/ or which things that are currently run by the government should be turned over to private businesses? Why?
- Do you agree with the theory of economic convergence? Why or why not? Did the movie change your mind one way or the other? Why?
Tuesday, December 11, 2012
Capitalism: A Love Story
Answer each of the following questions in 3+ sentences. Be sure to include your name and/ or blog number.
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1. Some major problems with America's economic system is that America no longer produces the amount of money it needs to support itself, in general. Our tax systems have risen business costs, as an example. Prices are going up, while income is going down. Many people are losing their houses and parents have to work multiple jobs to provide for their families.
ReplyDelete2. These problems exist because of people lacking to get a decent education, and not being able to support themselves and not being allowed to take out loans.
3. This film made me thankful for what I have, truthfully. It's opened my eyes to how corrupt our government has it and how bad people have in this supposed "Land of the free, and home of the brave." These people in this movie were not allowed to take out loans and couldn't suffice enough for their families. One scene that really stood up for me was when the African American family was evicted from their house, and then protest themselves back into it. It was very powerful watching the strength that a community has and the way it can protest the government like that.
4. I would recommend giving people loans easier. Denying loans to the people who need them most isn't fair to them. How are they supposed to build themselves a better life is they are not wealthy if they can't sustain a roof over their heads. If they could take out loans they could try to make more money to pay off their loans and get themselves to a place in their lives where they are more financially stable.
5. The economy won't work without a certain amount of regulation by government. Too much is as bad as too little.The government needs to find just the right level. Inflation or further economic depression could occur. Market regulation through will be the best way to improve our economy. Loans, and pricing should mostly be regulated.
6. I agree with this theory. If America fails as a country economically then a large portion of the world will fail along with it. If this happens and the economy drops worldwide, poorer countries will be able to possibly outdo is economically.
14
1. According to the film, America's economic system has made it hard for average people to make a living. Necessities have gone up in price, while income has only slightly increased. Taxes on the wealthy are lower than ever while the middle class supports the country.
ReplyDelete2. These problems exist because the people in charge of most companies are looking out for personal gain rather than the overall well-being of its employees and its consumers. The government is also filled with biased politicians who are also more concerned with making even more money while the residents take on higher taxes, larger expenses, and smaller incomes.
3. My reaction wasn't really surprised. I have heard of many times where large corporations have done immoral actions. When the government used tax payers money and decided to bail out the large banks that should have gone bankrupt, and these corporate managers gave themselves bonuses. I'm really glad that half the employees of Bank of American are having serious financial problems but that the already rich managers get a million dollar bonus for their hard work. You've earned it.
4. I would say greatly increasing the taxes or the rich would be a good solution. It would take some of the pressure off of the lower classes and the upper class would have to settle for less. Also appointing honest people into the higher positions is a must. The government needs to regulate corporations and make the companies follow stricter laws.
5. The government should have a larger role in regulating the economy because the government should not be looking out for profit. The companies that run most of the economy have one goal in mind: increase profits. The government needs to control the actions of these companies to ensure the well-being of most of its citizens. The government definitely needs to regulate banks and health insurance more.
6. I believe that poor countries can grow faster than already developed countries. However, I don't believe that this applies to all poor countries. If economically advanced countries were to suffer, poorer countries could catch up faster.(such as in WWI)
~3
1. Some major problems with America’s economic system are that there is not enough reglations on the banking industry causing the majority of the people in the U.S.A. to have living problems. The banks taking very risky bets to try and make more money. The people lose because their money was used to help these corporations, and they lost their homes and jobs because of the economic situation they were put in.
ReplyDelete2. Moore says that these problems are caused by government not watching over Wall Street well enough. He believes that Wall Street, and the banks, can do too much of what they want, even being able to endanger the world’s economy. He also believes that this occurs because the people that are in charge of this are people that worked in these large companies.
3. The film made me feel uneasy about the way America handles its finances and other people’s money. There should be no way where companies get $700 billion dollars scot free. There should be no way that when these companies are going bankrupt that they should be able to give out multimillion dollar bonuses to the people who are already the wealthiest people in the world.
4. The changes that I would most like to see would be more regulations on how huge corporations play with money. They shouldn’t be able to bet money against themselves, as some corporations do, or put money on their workers lives, like companies like walmart do. These are terrible ways, unhealthy for the world, to make money.
5. The government should play the role of an overseer. It should say yes or no, it shouldn’t give reasons to why or why not, or help these companies make money. It should be there so that there is no bad decisions that could ruin the American economy.
6. I agree with that theory because it is easier for poorer economies to grow. There are less laws to follow, there is cheaper labor to make products cheaper, and they are more encouraged to grow. The movie did not change my thoughts on this.
---1
1. According to the movie we had watched one major problem with Americas economic system is that in this time the U.S. system is a mess. People are constantly working harder in an attempt to make a living but it only seems to bring them further down as prices/ taxes get high and their wages shrink. Banks and other companies have dug themselves into a hole that they have to help themselves get out of.
ReplyDelete2. These problems exist today because not only are people able to afford an education like they use to but it also seems that the ‘top 1%’ is taking all that money for themselves. He mentions many times how while people are suffering throughout these last few years CEO’s and big name companies have been getting bigger boosts in money. People on the bottom are working harder yet hardly ever see a raise in their checks.
3. At first this film made me very thankful for what I had and a little weary for when I go into the ‘adult world’ and have to care for myself but then it occurred to me that even though these things are happening the movie is still slightly biased. I’m not saying that he’s ‘overreacting’ to this crises because it truly is a big problem but at this time there is not much he can do. He needs much more people if he wishes to see something change. (and that might not be too far away)
4. At the moment all I can really think of is putting higher taxes on the rich. It was shown in the video that years back the rich had higher taxes and they still were well off so why not try it again. The worst it can do is take money from the rich and at least help support our economy more. Of course, there would be backlash from those that still wish to keep their wealth and may help America in the long run.
5. The government has to keep a watch on those that only wish to increase the size of the pockets. Keeping an eye on store owners and big business that up their prices in order to make a profit and they also have to watch those that attempt to not pay their taxes. The government should seriously focus on the economy for America and work on any debts that we have to repay before spending tax payers money on useless thing.
6. I do believe in the theory of economic convergence. If America or any country with a status like it were to either freeze or drop economically than the small countries could easily catch up to us. Although it depends on how the other small countries are doing and whether or not their economy is dropping just as quickly as the formers. As for the movie, it didn’t really change my views on anything too drastically.
---11
1. The major problem in the economic system is that people are losing their jobs while Ceo’s are making more money. This affects the majority of people because it makes it harder for the average person to purchase goods that they need in their everyday lives.For example, due to inflation prices are skyrocketing while a person's income is barely going up.
ReplyDelete2. These problems exist in our economy because when people try to take out a loan they aren’t able to pay back the money they owe. Also, ceo’s look for what would benefit themselves rather than the company causing more people to lose their jobs or get low wages.
3. As I was viewing the film I was surprised at how much ceo’s and people who have a lot of power abuse it in order to get more money for themselves. The film made me feel irritated when they take parts of hurricane katrina showing many people living on their rooftops to survive while rich people weren’t doing anything to help them.
4. I would recommend taxing the rich more. This would solve the problem because more money would be distributed in the economy for people to get better health benefits and job opportunities. Also, this would allow people to get to afford a good education so that they can get better lives.
5.The government should regulate business so that people won’t lose their jobs and at the same time not interfere too much with them so that the government has complete control over private business.They should give more financial aid to people who need it and open more jobs in privite businesses where people have an opportunity to make a living.
6. The theory states that poorer countries can grow faster than richer countries. I believe this theory is true because there would be a bigger downfall for more advanced countries rather than a poor country causing them to be able to grow faster economically.
--Parth Sojitra
1. A major problem with America’s economic system is the banks dug themselves into this ditch from which we needed to provide material in order for them to return. If they failed, our economy would fail. Also a major problem is the banks are in charge. Wall street should not be the capital of the United States, Washington DC should be.
ReplyDelete2. These problems exist because we have people in government positions who only care about the good for themselves, their corporations, and the wealthy. By having Goldman Sachs run the government, the democracy is ruined. Who is represented the average middle class family? Moore said that they rely way too much on Wall Street, which isd a giant gambling game.
3. This film really opened my eyes because I never really knew about all these issues. Sure it was biased but I’ve never seen either side. I personally feel uneasy about our economy and the way our money is handled. I’m happy I am not older because then I would actually have to deal with all this. I’m happy I don’t have to yet because I would like to understand it completely.
4. We should put more regulations on how large companies and banks use their money. Also, as everyone has previously stated, tax the wealthy. Get the money from them, because they can support themselves with half the money they have, so take it from them instead of everyone else. They should accept a little less (money from taxes) and give people more (higher taxes).
5. The government should regulate the economy. They have to regulate large companies unless they want America to become a monopoly. I think the government should back off of some businesses because the self-employed people who own a piece of the company each were shown to work harder and more productively because they directly get the fruit of their labor.
6. I agree with the theory because there is no where to go but up when poorer economies are brought up. Counties with bigger and “better” economies can easily crash and fall right to rock bottom. But the more poor economies can sky rocket up while the big ones crash down.
~ 8 (Janelle)
According to the film, the major problems with America’s economic system are that incomes have only slightly gone up, while prices for everything else have gone up increasing amounts. Many people are losing their homes or have to work multiple jobs just to scrape by. Also as a result, business costs are increasing causing some of them to have financial problems.
ReplyDeleteAccording to the filmmaker, these problems in our economic system exist because companies are all about the money and not about the people. The government is also only concerned with making as much money as they can. As a backlash people can’t support themselves and therefore can’t get a good education.
My reaction to the film was not that different from the other films we have watched. I believe the film was again biased and clearly trying to persuade us to which side they think is best. I feel that there is a lot more information I need to learn and know before I can make a real decision about how I feel.
I would recommend decreasing the pay of the people who work for the government and/or making them pay all the taxes we do. The government is not a business, so why should they even be paid at all? We are paying them through our tax dollars and maybe if they had to follow all the rules like everybody else, they would make more careful decisions. I mean, if you knew a decision you were making wasn’t going to affect your life wouldn’t you care a lot less than if it was going to apply to you? Our society would probably be more rational as a whole and these money problems would hopefully start to decrease or even out.
The government should regulate some things in the economy without going too far. Too much government is bad as could be too little; therefore they need to find the right medium. The government should regulate major businesses just to make sure nothing goes corrupt and should leave small businesses to be private businesses.
The theory of economic convergence states that poorer countries can grow faster than richer countries. I somewhat agree with this because poorer countries have less and therefore have more space to grow than America who has already grown so much. Also, there would be a bigger downfall for more advanced countries than countries that don’t have much. On the other hand, all countries are different and I’m sure some countries have this potential to grow while others may not. The movie did not change my mind one way or the other.
-9 (Rachel)
1. This documentary brought the real problems in America today. The news is always focusing on other countries or blaming democratic/republican leaders for the downfall of the country. However, the problem revealed in the film is not necessarily the "leader" of the nation, but the hundreds of people within the system who are "bought" by banks and big named corporations. These people vote in their own interest or the in the bank's favour, instead of the American people. Too many people in the government are bought and its hard to find a someone that isn't biased. Of course, this does not mean every single person in the system is corrupt or greedy, but if majority of the people are then America's citizens are going to suffer at the hands of the wealthy.
ReplyDelete2) These problems exist in our system because of one simple concept, greed. It seems like everyone in high positions are so greedy and selfish. They continue to steal from the those who already have barely anything. These people do not care about the well-being of the citizens or the United States. They care about themselves and their money. The "normal" people are charged with outrageous fees which is impossible to pay back and in a result the rich can possesses their house, car or any of their possessions.
3)I didn't know about much of the American economic system. I still feel I need a lot to learn before making an educated opinion. But the this film is a perfect opening to my knowledge of the economic system. On paper the capitalistic system seems perfect. Everyone for themselves, but once on paper this system seems a but inhumane. It seems like 1% of Americans are enjoying their wealth while those who live in poverty suffer from their greed. It's an eye-opener definitely. It's crazy that within a few years I will have to support myself and I'm scared that I will be a victim to this economic system. But I'll stay strong and avoid buying on credit as much as possible. After seeing this film I won't buy a house with a giant loan.
4) I think politicians shouldn't be "bought" if so, we would have a fairer system, but I can't think of any way how this is possible without violating anyone's personal business. It is their decision to be bought or to buy. But if this decision will affect the lives of millions of Americans this practice should be stopped. I believe taxing the wealthy and redistributing to the poor would be ideal. If it worked 80 years ago, it should work now. We'll have a bunch of butthurt rich dudes, but it will be worth it.
5)I believe the government should regulate the economy; without their interference the American people would suffer. If the government have no part, companies would treat the economy as monopoly. Millions of people would lose their jobs if this would happen, and we can not let this happen. America needs its people with jobs and the only way to do that is if the government will regulate and control the economy.
6) I do not think any other economic theory even exists today. Well maybe, North Korea, but I think that may be the only nation that doesn't have a mixed economy. In order for an economy to flourish it must have principles and concepts from both socialism and capitalism. People have the right to choose their jobs and freedom of voice, but they also deserve a proper education and a fair healthcare system. I already had the view of a mixed economy should be the best, not just capitalism or socialism.But this film did re-enforce my beliefs.
~13 (tracy)
According to the film, what are the major problems with America's economic system?
ReplyDeleteAccording to the film there are major problems with the economy of the United States. Major problems such as the distribution of wealth between the rich and the poor. According to the movie most of the wealth has grown in the top 1 percent of the country while the rest 99 percent has not increased by much. In conclusion as the rich get richer day by day the poor still stay poor.
According to the filmmaker, why do these problems in our economic system exist?
According to Moore these problems exist because of Regan. My thoughts are quite a blur over the whole detail of how it is regans fault but from what I recall Michael Moore had stated that it was Regan's fault. It was his fault that the top 1 percent got richer as the rest of the United States stayed where they were.
What was your reaction to the film? How did it make you feel? Why?
I believe that Michael Moore has the right idea of spreading the message but he needs people that are higher in power to back him up. Alone he will not accomplish much. A perfect example would be when Moore was asking for advice from people coming out of wallstreet one of them stated "Stop making movies". At this point I would probably say the same because as every movie he makes he makes valid points but not many people take him seriously.
What changes to the American economic system would you recommend? Why? What effects would these changes have on our society as a whole?
Kill the rich, steal their wealth and distribute it properly into the hands of the ordinary people. These changes would be drastic since the United States society is a formal society which does not refer to a barbaric type of manner of execution of the rich for their wealth. But in my opinion that is the only way mainly because the rich hide away their money on private islands to escape paying high tax rates.
What role should the government play in regulating the economy?
The government should play a role in making sure that every rich person pays their taxes properly without any loopholes in the system. If the rich find a way around such a thing then constitutional laws must be broken in order to enforce the regulation of the economy and imprison the rich and "acquire" their riches
Which areas should the government regulate that are currently (mostly) unregulated and/ or which things that are currently run by the government should be turned over to private businesses? Why?
I honestly have no answer to this question because there are so many areas that are unregulated and its just absurd. But in my opinion this will all find its way in time, what difference does this blog post make anyway, its not like one blog post is going to change the whole system of government.
Do you agree with the theory of economic convergence? Why or why not? Did the movie change your mind one way or the other? Why?
No I do not agree because as one could clearly see from this movie major companies have grown and smaller companies had gone out of business but when major companies had failed they were bailed out. In today's society i believe that this theory does not work in our current economy.
kirill
I apologize for the lack of detail, its late, im tired, and i still have more homework to catch up on.
(Stephanie "awe poor kirill" )
1) According to the film, one problem with America’s economy is that wages have gone up a very slight amount, but the cost of living has significantly increased. Also, people are taking out large loans to purchase houses, but they are unable to repay these loans so banks must repossess the houses. Another problem with the American economy is that the banks and CEO’s of companies have more power than the American people.
ReplyDelete2) These problems in our economy exist, according to Michael Moore, because government and businesses are concerned only about making money for themselves and not about the American people. This lack of concern for the people has caused issues to be overlooked to the point that no one can no longer support themselves and have to rely on the government for socialist things like social security, which is for some reason is accepted while socialized health care is not. It is all a vicious cycle.
3) My reaction to the film is that although it attempted to show the flaws in the system, it just made a mockery of the issues by being so ridiculous and one-sided. A biased film will not convince any educated person to agree with you, it will just give them a lesson on bias, not the topic you are trying to convey.
4) I would make the American economic system into a happy equilibrium between socialism and capitalism; combining the positives of both to make one superior economic system. Most people would disagree as everyone is anti-socialism, but America already has some socialism like schools, social security, and first responders; why not add a little bit more?
5) The government should be involved, but not significantly. Without government regulation, people would go overboard and make things unbalanced, but an excessive amount of government control is unnecessary.
6) Yes, I completely agree with the idea of economic convergence. Bringing together the positives of two completely different economic systems to make one greater economic system is a terrific idea. The movie did not change my mind one way or the other as I saw it as a comedy rather than something informative.
~6
ReplyDelete1. America is a country run by its corporations and for the good of the executives instead of focusing on the good of the masses. Companies who knowingly misuse funds and blatantly disobey what are supposed to be American ideals are pitied by the government instead of left alone to fail. We are taught as children that all we need in life to be successful is intelligence, a good work ethic, and a clear goal. It takes a very long time for many people to realize that in order to be successful in America today, we have to be self - interested and value money over determination and independent thinking.
2. This country was founded for the purpose of making money. Jamestown started as an English economic endeavor, and the fundamentals and beliefs of profit being the most important goal have lived on through the years. People are more concerned with hoarding as much money as possible as opposed to making a decent living and helping out the poor.
3. Personally, I see all the benefits to capitalism and believe that in theory, it is a great system. This movie made me realize that not one clear economic theory works for every country. Maybe we do have to consider adopting some slightly socialist economic practices in order to protect the people from the evils and dysfunctions of capitalism. At the same time, we have to preserve the aspects of capitalism that function well in our economy in order to prevent the weaknesses of socialism to wreak havoc on the already crumbling system.
4. Franklin Roosevelt's proposal of a worker's bill of rights could possibly turn our country around 180 degrees. As we've seen with worker - owned companies, the working class is motivated to work much harder when they know they are valued and when they are treated fairly. Perhaps some revisions to the second bill of rights would be called for, because I envision certain groups calling the amendments socialists, however overall it could be a very progressive solution.
5. If a company receives government aid, for instance in the incident of a stimulus package, the government needs to monitor where the money is going and who it is benefitting. Any company who uses taxpayer money needs to see that the money is being utilized to help its middle class, taxpaying workers to keep their jobs and pay their bills. If executives use government money for their own interests, the government should be allowed to take serious disciplinary action. CEOs should not have to be treated like children, but desperate times call for desperate measures. The fact that corporations got to keep their old, greedy CEOs employed while middle class mothers and fathers with families to support were continuing to be laid off is beyond me.
6. The saying goes, "The bigger they are, the harder they fall." Rich countries always run a risk of an economic crash. Capitalism is not a perfect system, and obviously, tons of corruption and illegal activity takes place. This does not lead to economic prosperity. Developing countries are much more likely to grow faster because their economic systems are in a growth-promoting environment. People are less selfish because the gap between the rich and the poor is much more narrow.
- 15
1. Problems are that the emonomic system makes it hard for middle class to live. The average cost of living has increased. Many companies are more interested in the good of their executives and CEO's instead of everyone else.
ReplyDelete2. These problems exist because of president Regan and thr government is not watching over wallstreet.
3. I was shocked by most of the things that were stated and almost all of the stories that the film followed. I never thought that a company would ever benefit from an employee's death. When I get a job in the future I do not want to be part of a company who does this. It is also scary because you never know what companies do this.
4. I think that changes need to be made to benefit the average people rather than the CEO's. This would make a big impact and the entire country would be doing a lot better. I do not know what that takes and what specefic things need to be done, but it is something that should be thought about.
5.
6.
---2
According to the film, what are the major problems with America's economic system?
ReplyDeleteAccording to the filmmaker, why do these problems in our economic system exist?
What was your reaction to the film? How did it make you feel? Why?
It was eye opening. I like Micheal Moore films because it does show light on other facts that the media does not point out or acknowledge.
What changes to the American economic system would you recommend? Why? What effects would these changes have on our society as a whole?
I think that we should learn from the wolrd's example and take the best parts of their systems and apply it to our system. We are the worlds melting pot, shouldn't we learn from their mistakes and follow their example.
What role should the government play in regulating the economy?
The Government should make sure that businesses is being fair. No monopolies and that the workers, the Americans, are being treated like equals and with dignity.
Which areas should the government regulate that are currently (mostly) unregulated and/ or which things that are currently run by the government should be turned over to private businesses? Why?
I'm not sure. The government should secure the peoples rights, not the companies. Everyone has the right to free trade but they should also be secure and able to support themselves.
Do you agree with the theory of economic convergence?
Yes, they should blend. There should not be black or white but places in between, one way is not all wrong and one is not all right. People should learn from each other, pick the good points from each and make a fantastic, working mix.
Why or why not? Did the movie change your mind one way or the other? Why?
I suppose. It just gave me more information on my views, making them even more solid.
-Stephanie