This week you will prepare a Cause and Effect Essay (assignment directions are in the Topic 4 Folder). Watch the local news or go online and read news as presented….
Mattick’s Business as Usual
- What are the major ideas of chapters 1 to 3 of Mattick’s Business as Usual?
- What is the position of Mattick with respect to common views in economics? Would you say he is or he is not a conventional economist? Why or why not?
- In ch. 2 of his book Mattick refers to “What happened” and in ch. 3 he refers to “Ups and Downs”. Explain what happened according to the views of Mattick and what are the ups and downs he refer to.
- What are the major ideas of parts 1 and 2 of Spence’s The Next Convergence?
- In ch. 4 and other parts of his book Spence refer to the origin of the global economy. Explain what are these origins according to Spence’s views.
- What is the Washington consensus? What are the views of Spence in The Next Convergence about it?
- What are the views of Spence about the developing world in the context of the global economy?
- The End of Growth by Richard Heinberg starts explaining what he thinks will be “The New Normal.” What is that “new normal” according to Heinberg?
- Heinberg refers to absurdities of conventional economic theory. What are these absurdities in his view?
- Do you believe debt is a major concept in Heinberg’s view of what has happened to the economy in recent years? Why or why not?