Comparison between pre-capatilism and capitalism in terms of economic orginization. Also comparing feudal ideology to capitalism.

I need help with a Economics question. All explanations and answers will be used to help me learn.

Based on the readings 3) through 9) in the coursepack (i.e. from CP-3 to CP-9), please answer the following three questions (separately, not as part of one essay):

  • How does capitalism compare with pre-capitalist economic systems with respect to the organization of the economy?
  • How does the feudal ideology compare with the ideology of capitalism?
  • What can you say about the social/economic/political/environmental changes brought about by capitalism?

Discuss:

a) The role of markets VS alternative institutional mechanisms (i.e. householding, reciprocity, redistribution, also referred to as tradition & command)

b) The relationship between the economy and the society (i.e. embedded/disembedded economies).

Include in your answer 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).

Please do not repeat your answer to question 1); base your answer on CP-9.

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Requirements:

  • Your answers should be typed (Font: Times New Roman; Line spacing: double; margins: 1”). Each answer should be about 500 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 content of ALL required readings. References can be made by simply citing the reading number (ex. CP-4) or by citing the author and the reading number (E.g. Polanyi in CP-6). References can be inserted either as part of the text or at the end of a sentence in parenthesis. When appropriate, references can also consist of direct quotes. In this case, the quote needs to be accompanied with the page number of the relevant reading. E.g. “Since 1950, the rising Asian share of world output and the simultaneous decline in West’s share stemmed largely from economic expansion in Japan and China” (CP-9, p.8).

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