The U.S. is a property owning civilization and a number of the people wanted land and housing. Americans however scarcely ever create savings. "The country itself lives on other countries' savings by issuing bonds to finance its excessive consumption. The current crisis began with cheap housing loans offered by banks. Banks provided loans but instead of holding the loan in their books, they packaged them into collateralized debt obligations (CDOs)

8 million of the 2.5 million enslaved Africans employed in American agriculture working on cotton plantations (Dodson). The economic structure of each plantation was part of a larger national and even international political economy. For example, the cotton plantation economy is frequently regarded as a significant part of Southern economy. Nevertheless, cotton was not only the economic foundation of antebellum South, but also that of the United States, a country

Of course, in recent years, this power has been diluted somewhat thanks to the rise of collective bargaining. Nonetheless, the fact that for so many years baseball has been characterized as a game rather than interstate commerce worked to the benefit of the industry as a whole. If the exemption were repealed, apparently only possible through act of Congress, players and teams could sue the league if their movements were

Monopolies and Trusts: Appropriate Areas for Government Intervention? Capitalism is the economic system that has dominated the United States virtually since the day of its independence. A social and economic system based on the recognition of individual rights; capitalism demands that owners' rights to control, enjoy, and dispose of their own property must be respected. In a capitalist system, the purpose of government is to protect individual economic rights, and to make

In terms of Singer's work, although his solutions are not practical in the sense of Paehlke's work, his call for a change in the political system does make sense. Political leaders should be called away from their isolated mentality and use their power to effect the changes necessary for a better world. Both authors recognize that globalization cannot be denied, and that some aspects related to the phenomenon are beneficial while

Aside from these positive consequences, a free market would negatively affects small entrepreneurs in the meaning that most of them would not possess the necessary resources to compete with international producers and would end up in bankruptcy. Multinational corporations and international organizations Large international corporations have been widely criticized for the destruction of local businesses and for forcing their own products and culture upon other countries. One of the most eloquent