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    1. praymeh05 01 Sep 2025
      yourself mine the metals, process them, combine them, andshape them. To mine the metals, you would have to be ableto locate them. You would need machinery, which you wouldhave to build yourself

      To gather the tools, raw material and metals machinery was needed. Machinery is very integrated into the industry, its an industrial technology that has improved productivity. Stanford states "The invention of steam power, semi-automated spinning and weaving machines, and other early industrial technologies dramatically increased productivity." (Stanford, pg 44). The scale of industrial technology is something that surpasses an individual worker capacity. Kling talks about specialization on why individuals are inherently dependent on a broader system. While Stanford goes into why capitalist is necessary to get factories working.

    2. praymeh05 01 Sep 2025
      When patterns of specialization become unsustainable, theindividuals affected can face periods of unemployment. Theyare like soldiers waiting for new orders, except that the orderscome not from a commanding general but from the decen-tralized actions of many entrepreneurs testing ideas in searchof profit.

      When old job patterns no longer make sense, soldiers waiting for new orders, instead of commanding officers they're are getting it from entrepreneurs experimenting. Meaning their livelihood is at the hands of people who are just testing things and an uncertainty if there will be a new role created. It raises a question if this decentralized adjustment make unemployment longer or less predictable?

    3. praymeh05 01 Sep 2025
      Look at the list of ingredients in the cereal. Those ingre-dients had to be refined and shipped to the cereal manu-facturer. Again, those processes required many machines,which in turn had to be manufactured. The cereal grainsand other ingredients had to be grown, harvested, and pro-cessed. Machines were involved in those processes, and thosemachines had to be manufactured.

      Machines is such a big part of the industry. It is used for transportation and manufacturing products. Products such as cereal which comes from a chain of production. Every ingredient had to be grown, processed, and transported using machines and the machine itself had to be designed and built to keep the industry running. If machines weren't involve whatsoever would the industry be able to keep afloat?

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    1. praymeh05 31 Aug 2025
      Needless to say, this state of affairs was not socially sustainable. Working peopleand others fought hard for better conditions, a fairer share of the incredible wealththey were producing, and democratic rights. Under this pressure, capitalismevolved, unevenly, toward a more balanced and democratic system. Labour lawsestablished minimum standards; unions won higher wages; governments becamemore active in regulating the economy and providing public services. But thisprogress was not “natural” or inevitable; it reflected decades of social struggle andconflict. And that progress could be reversed if and when circumstances changed –such as during times of war or recession. Indeed, the history of capitalism has beendominated by a rollercoaster pattern of boom, followed by bust.

      Early capitalism created harsh conditions that society could not tolerate, which workers got together to fight for a better condition, fairer wages, and democratic rights. With this capitalism evolved into a more balanced system, with labor laws, unions, and improved government regulation providing public services. Capitalism only became more balanced because people forced it to change, not because the system was designed to provide fairness. If capitalism was achieved through struggle rather than naturally, does that mean capitalism itself is inherently resistant to fairness?

    2. praymeh05 31 Aug 2025
      Is our present economy a good economy? In some ways, modern capitalism hasdone better than any previous arrangement in advancing many of these goals. Inother ways, it fails the “good economy” test miserably. The rest of this book willendeavour to explain how the capitalist economy functions, the extent to which itmeets (and fails to meet) these goals – and whether or not there are any better waysto do the job.

      It isn't clear if our present economy is a good economy or not it is evident that modern capitalism is making a better progress in advancing the goals that are intended. The author established a balanced evaluation and acknowledges capitalisms past strength while also looking at its weaknesses. It states that modern capitalism fails the 'good economy' test miserably in some ways, though it is improving there is still flaw to it. What will the author show to meet the goals and a better way to do the job.

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