Smith and Marx have schematized the phases of development in the course of history. Discuss why they did this, while Ricardo concentrated on the problems of capitalism of his day.

Describe some of the basic components of the evolution of capitalism?   According to Investopedia (2017), capitalism grew fromEuropean feudalism in which workers were controlled by feudallords. The system was mainly agricultural in nature, and aseconomies became more urbanized, child labor and long workinghours were common. Mercantilism and colonialism expandedtrade among countries, with periods characterized by wars,nationalism, exploration, and exploitation.Henri See (1928) also believed that capitalism was part of aneconomic revolution in Europe, which first appeared in the formof commercial and financial capitalism. The capitalistic businesses,which manifested themselves in the nineteenth century, wentthrough some transformation with labor businesses and relationsbetween employer and employee.Historically, capitalism was seen as an exploitation of laborin the wealth-creation process and in the reproduction of socialrelations. According to Shaikh (1990), the manner in whichsociety…

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Q.1. Are the following statements true, false or uncertain? Briefly explain your answers. a) "The Mercantilists believed that wealth originated from land, and economic policy should focus on encouraging agriculture."

The purpose of a business model is to provide a clear representation of where and how value is created and can be captured. True False

"Innovation by the Entrepreneur" argued Schumpeter, leads to gales of "creative destruction" as innovations cause old inventories, ideas, technologies, skills, and equipment to become obsolete. The question is not "how capitalism administers existing structures,…[but] how it creates and destroys them." This creative destruction, he believed, causes continuous progress and improves the standards of living for everyone." Joseph Alois Schumpeter, 1883-1950Links to an external site. In terms a little more modern than Shumpater's, Dr. Abhijeett Desai explains that the predominant form of innovation can look disruptive, but is, in fact, transformational innovation. Explore Dr. Desai's thinking in Transformative Innovations vs. Disruptive InnovationLinks to an external site..

What’s the relationship between the QBL, inclusive capitalism, conscious capitalism, and a regenerative economy

Which of the following was the main result of the Great Leap Forward?The CCP eliminated collective farms People demanded an end to Communist policies China industrialized within a decade It caused a famine that killed tens of millions

The United States is one of the world's wealthiest countries. Think of a recent case in which the decisions of the U.S. government were severely constrained by scarcity. Describe the trade-offs that were involved. What were the opportunity costs of the decisions that were actually made?

Karl Marx referred to the business owners as