Posted by 4Brianna on September 4, 2009 at 11:54am
In our 5th hour CWI, we reviewed the government systems that we went over the previous two days. Mr. Bruns explained socialism to us. I learned that socialism is where the government owns and controls businesses. In America, I think we are becoming more socialistic because Obama is trying to control more and more businesses. Schools are also controlled by the government. I think socialism hurts the economy more than helps it. There is no motivation in a socialistic economy because you can't earn more money if the government is controlling what you pay.Becka and Justice did capitalism. Capitalism is where businesses are privately owned and operated by civilians. I learned it was first developed in the 16th centrury. Europe got hit with capitalism in the 19th and 20th centuries. Mexico, South Korea and the United States are a couple examples of countries with capitalism.We also talked about current events. The first thing we talked about was the economy. I learned that our unemployment rate has gone up a lot. When our economy is good, our unemployment rate is only about 3-4%. I learned about the indicators that the economy is bad are things like lowering their prices so they can get people to buy more. The stock market is also a big indicator of how our economy is doing. If the stock goes up, then it means the company is doing well. If it goes down, it means that the company is doing poorly. The housing market is also a mess. If a lot of homes are for sale, a common cause of that is foreclosure.
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