What is the purpose of an economy

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Assignment:

Watch the film "Inequality for All" (I recommend it in its entirety to learn about the connections between the economy and Democracy)

1. What parts of the film were surprising or made you sit back and say, "Hmmm, I need to think more about that? Or, "Wow, I never thought about that."

2. What is the purpose of an economy? We think and talk about the economy all the time, but ultimately, why do we have it? What purpose is it supposed to serve? And does our economy serve that purpose now? Substantiate your claims with at least one outside academic reference. Consider keyword search "free market verses Keynesian economics", "safety net versus social protection".

3. Reich says, "The question is not inequality per se; the question is, when does inequality become a problem?" When do you think inequality becomes a problem? Substantiate your claims with at least one outside academic reference.

Reference no: EM133529285

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