Introduction to Economics and Global Capitalism
The book 23 Things They Don’t Tell You About Capitalism is a very captivating and thought provoking read that purposes to provide the reader with some fundamental truths regarding capitalism that may not be easily perceptible or known. This is information regarding capitalism that most people would overlook and hardly take them into consideration in an extensive manner. However, there are a number of things from the list that I was unaware of and gained insight from the information contained in the book. One of the key surprising aspects was Thing 4 that delineated that the washing machine has transformed the world more than the internet. This is largely for the reason that we are used to being in awe and fascinated by the spectacles of computing. We consider technological aspects such as the internet and telecommunication advances to be the things that have transformed the world. However, we have a tendency of forgetting that the world we exist in would be severely dissimilar devoid of machines that facilitate conducting household chores. Another surprising argument made by the author is Thing 9, which outlines that we do not exist in a post-industrial age. This is largely for the reason that...
Nonetheless, a high level of productivity has instigated such products to become considerably cheaper in comparison to services (Chang, 2012).
Another insightful aspect provided by Chang (2012) is Thing 17 that states that education in itself is not going to make a country richer. In particular, this is a largely discerning chapter that provides a thought provoking way of understanding education. Usually education is considered to be one of the key reasons why developed nations are richer compared to developing nations. More often than not, the graduates coming from university are employed by organizations owing to the extensive knowledge and know-how that they have attained during their academic period. They are usually employed for the reason that they claim to have intelligence, impetus, and also discipline in comparison to individuals that are yet to attend university and those yet to graduate from university. Prior to reading this particular book, I always considered education pivotal for nations becoming richer. This is in the sense that developing nations would benefit from high levels of education to advance their technology,…
