HMSEconomics – The CURRICULUM

HMSEconomics:

The CURRICULUM

I  BASIC ECONOMICS

1 – natural laws

a)the “invisible hand” of

SUPPLY and DEMAND

SCARCITY 

COSTS

b) – natural RIGHTS (“science” – life, liberty, property)

– INDIVIDUAL vs COLLECTIVE ; FREEDOM vs SECURITY ; GREED vs ENVY How the laws of NATURE (SCIENCE) interact with HUMAN NATURE (POLITICAL SCIENCE); laws & rights

II – WEALTH and POVERTY

A – WEALTH

OPPORTUNITIES (MAKE wealth) vs OUTCOMES (SHARE wealth)

• PROCESS (individual “pursuit of happiness) vs PRODUCTS (collective sharing for “common good”)

PRO-Industrial Revolution  vs.  ANTI– Industrial Revolution
• capitalism produced unprecedented wealth capitalism vs. creates destructive & divisive greed

GENERATE-EARN wealth (creation)  vs. RE-DISTRIBUTE wealth (control and take)

• GROW the PIE vs SHARE the PIE

• the BLESSINGS of production vs. the BURDENS of chaos/destruction

INequality of MORE (unequal blessing)  vs.  EQUALITY of LESS (sharing misery?)

entrepreneurship – high risk/reward (PROFITS)  vs. social justice–“security” (“PHILANTHROPY”)

• promote OPPORTUNITY  vs. prevent “OPPRESSION”

• “tragic” greed – individual pursuit of happiness vs. utopian “LEVELING” – “common good”

• the fact of INTERESTS: selfishness and materialism  vs.  feelings of envy produce divisive DISharmony

• REWARDS (making rich “haves”- work ethic)  vs RESENTMENTS (of/by poor “have nots”)

• wealth is BLESSING bringing tragic trade offs  vs. poverty is BURDEN preventing utopian solutions

UN-INTENDED CONSEQUENCES

• turning reality of “greed” into “good”/better (COMMON SENSE)  vs “wishing thinking” making things WORSE? (COLLECTIVE NON-SENSE)

B – POVERTY

• CLASS WARFARE

• EARNED wealth causes prosperity VS “EXPLOITATION” causes poverty

• a HIGHER TIDE raises all boats  vs  ZERO-SUM game (one benefits at other’s expense)

millions raised, become “middle class” vs. a permanent “under class” – resentment of “rich”

making-creating “HAVES” vs protecting “HAVE NOTS” – leveling the “haves”

making rich poor-er does not make poor rich-er victimization – rich make poor (zero-sum game)

• promote prosperity (pro-“rich  vs  prevent poverty (pro-“poor”) GREEDY/strong game the system (the Jungle) vs ENVIOUS/weak game the system (the Nanny State)

MAKERS (e.g. Wall Street “robber barons”) vs TAKERS (e.g. welfare “queens”) poor “parasites” on “producers”

PARASITES??? wealthy “parasites” on poor “exploitation” trickle DOWN? wealth trickle UP? poverty

• promote prosperity/profits  vs. prevent poverty- philanthropy

III – ECONOMIC SYSTEMS

A – CAPITALISM

a “FREE” MARKET –

laissez-faire government non-interference (Adam Smith) (individual) private ENTERPRISE; freedom & “rights”; self-determined EXCEPTIONALISM individual consumer driven – competition and choice (Social Darwinism) bourgeoisie classes (upper, middle, lower) pro Industrial Rev.

B – COMMUNISM

a “FAIR” MARKET – state controlled centralized command economy (group) collective endeavor

EQUITY – redistribution of wealth (Karl Marx) international

EGALITARIAN (eventual global class-less society) anti-Industrial Rev

C – SOCIALISM

“mixed” private & public–state domination’ – COLLUSION

Facsist National needs (national socialism) “totalitarianism” (Mussolini-Hitler) post-Industrial Rev (mixed “Third Way”)

IV ROLE of GOVERNMENT

• “EXCEPTIONAL” individuality vs “EQUAL” – TOTALITARIAN collective

• prosperity is exceptional – promote/protect it vs exceptional greed needs to be punished/regulated

• REWARD SUPPLY (more)   vs  REGULATE SCARCITY

• individual “pursuit of happiness” collective “social justice”

• the UN-commonly GREAT vs the “COMMON GOOD”

• A) – free market CHOICE and COMPETITION vs COLLUSION (Wall/”K” Street vs Main Street) laissez faire (no govt.interference-anti-monopoly) anti-competition”crony” capitalism(big govt.-business)

• B) – protect-promote protect pro-state Big Business-Poor from CHAOS
• individual PROPERTY RIGHTS collective-state-national RESPONSIBILITIES

• C)”LIMITED” TAXATION – less is more vs “PROGRESSIVE” taxation – rich pay proportionally more PRO-GROWTH promoting risk/wealth [pie]makers SHARE the wealth [pie]takers
• productive enterprise-entrepreneurship “punished” RE-DISTRIBUTE wealth – LEVELING income

• D)DEMOCRACY – representational (elected) govt. vs BUREACRACY (educated elites and experts)

UNINTENDED CONSEQUENCES –
• “war on Poverty” – poverty “won” War on Poverty – utopian SOLUTIONS
• “hand-outs” produce “dependency” vs destructive & divisive greed; resentments
• rewarding poverty counter-productive vs lack of provision is INhuman
• tragic TRADE-OFFS

V  MARKETS & BUSINESS

OPPORTUNITIES (MAKE wealth) vs OUTCOMES (SHARE wealth)

• a “level” playing field for all (anti-monopoly)  vs. “LEVELING” (one-ness – all the same)

• b) FREE markets (pursuit of happiness) vs FAIR markets (anti-greed “social justice”)                                                                        individual CHOICE – “open”/no constraints vs group CONFORMITY (controlled/closed)