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THE ECONOMICS OF CHANGE 1



STRATEGIES FOR ECONOMIC REFORM/CHANGES



DATE: JULY 21, 2007













ECONOMICS OF CHANGE 2
We know that we live in a democratic society; which is a form of government where all the state's decisions are exercised directly or indirectly by a majority of its citizenry through a fair elective process. (Berg, 2007).
This means that our lives lie in the hands of other people. That is why it is so important to know what is going on in our community, our state and our world. We as a people vote our leaders in, so when you think about it, we have power, but to a certain extent.
Living within a democratic government has allowed many people to make bad decisions. Our democratic society has turn into a capitalist society, and it’s every man for himself.
According to the Wikipedia, capitalism has been defined in various ways. In common usage it refers to an economic system in which all or most of the means of production are privately owned and operated (commonly for profit), and where investments, production, distribution, income, and prices are determined largely through the operation of a "free market" rather than by centralized state control (as in a command economy).(Wikipedia,2007.)



ECONOMICS OF CHANGE 3
Capitalist economic practices became institutionalized in Europe between the 16th and 19th centuries, although some features of capitalist organization existed in the ancient world. Capitalism has emerged as the Western world's dominant economic system since the decline of feudalism, which eroded traditional political and religious restraints on capitalist exchange. (Wikipedia 2007).
Capitalism gradually spread from Europe, particularly from Britain, across political and cultural frontiers. In the 19th and...