7 Matching Annotations
  1. Dec 2020
    1. Cotton was to the 19th century what oil was to the 20th: among the world’s most widely traded commodities

      ? and hands up: The way there were leaders In the oil industry, like Rockefeller, were there also leaders in the cotton industry?

    2. It is not surprising that we can still feel the looming presence of this institution, which helped turn a poor, fledgling nation into a financial colossus.

      ? America is only the place it is today because of how dirty it played to get their. Slavery, child labor, inflation, what did America do the civil way, if anything at all?

    3. otton houses and slave auction blocks

      hands up- (thankfully slavery was abolished, and this isn't to take away from that) When slavery was abolished, it was one of the biggest economic systems happening in the world at that moment, and the economy started to go downhill after that because there was no replacement. They took something away but never put something else in place.

    4. “we live in a capitalist society”

      ? This reminds me of when people use "its just the way the world is" as an excuse for something bad. But if its something bad, why is the world still that way? We live in a capitalist society which is not benefitting the majority of the world, so why is it still that way?

    5. But this is a capitalist society, a capitalist system and capitalist rules.”

      ! "Economy" is one big game, and if you want to win you have to play by some dirty rules even if you don't agree with them.

    6. Previously the drug cost $13.50 a pill, but in Shkreli’s hands, the price quickly increased by a factor of 56, to $750 a pill.

      (! and hands emoji) This is where you find the old and bad guys (or good and bad companies) of economics. There are the ones who would literally make the price so absurd (like it is) for their own monetary gain, but in the process practically kill many people; and there are the ones who raise it like a good business man would, but either to a manageable price or make it covered by insurance. Hence not making them AS much money, but still a profit. Reminds me of identifying robber barons vs. captains of the industries. But in my opinion every businessman is a robber baron in some way.