Pre-capitalism vs Capitalism
1) How does capitalism compare with pre-capitalist economic systems with respect to the organization of the economy?

Discuss: a) the role of markets VS alternative institutional mechanisms (i.e. householding, reciprocity, redistribution or tradition & command), and b) the relationship between the economy and the society (i.e. embedded/disembedded economies).

2) How does the feudal ideology compare with the ideology of capitalism? Include in your answer a discussion of the following aspects: a) motives of economic behavior (i.e. material gain VS other drivers); b) price determination (i.e. “just price” VS market price); c) organization of manufacturing production (guilds VS capitalist enterprises); d) economic targets (i.e. social cohesion/reproduction of the system VS profits/economic growth).

3) What can you say about the social/economic/political/environmental changes brought about by capitalism? (please do not repeat your answer to question 1); base your answer on CP-7 ).

Requirements:

♣ Your answers should be typed (Font: Times New Roman; Line spacing: double; margins: 1”). Each answer should be around 350 words;

♣ Be accurate and precise in the presentation of your arguments, and avoid the use of informal expression. Written assignments at the college require accuracy in word selection and sentence formulation. A written assignment should use a different language than the language you use in daily conversations;

♣ In each answer, make specific references to the required readings (they can also consist of direct quotes).