Unit+2

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=﻿KEY ELEMENTS OF JACKSONIAN AMERICA:=
 * Through the Indian Removal Act, Jackson pushed the natives further west, giving more land for Americans.
 * By closing down the National Bank, Jackson decentalized economic power.
 * As a Democrat, Jackson favored, represented, and promoted more political/economic opportunity and equality for white males.
 * Jackson affirmed the supremacy of national law by upholding the Supremacy Clause to take care of the nullification crisis.
 * Jackson was notorious for really taking care of his supporters with the spoils system.
 * The Whig Party was developed against the Democrats.


 * [ 10/29/10 ]**

= Capitalism in America = > //Capitalism is the ethical ideal, because it is the only social system that leaves man free to be moral -- to live by the use of his own mind.// > //Capitalism is the objective ideal -- because it is the only system that is true, both in philosophical theory and in economic practice//."
 * capitalism = an economic system in which the means of production (**capital**) are privately owned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies
 * "//Capitalism is the progressive ideal, because it is the only social system that that leaves man free to pursue -- and achieve -- his own happiness.//
 * free-market, anarcho-capitalism, merchantilism, social market, state, corporate, and mixed
 * free-market is the main sense of capitalism
 * US does not have pure capitalism
 * capitalism: everyone wants money for themselves
 * **capital** = money and goods (machinery, resources)
 * controlled by private businesses - individuals + small groups, but NOT gov. ; communism = when means of production ARE controlled by gov.
 * capitalism is focused on who controls the capital ; it favors whoever is at the top (owners of businesses) -- class-based system
 * people who think they have a good change of success favor it, but people who are poor/untalented/unintelligent usually would rather prefer other economic systems that don't focus on who is at the top
 * INVISIBLE HAND
 * [ 11/2/10 ]**
 * economy = big process
 * invisible hand = economy is self-regulated --> because everybody is trying to make $ and businesses are competing, everything is just taking care of itself while the capitalist economy runs smoothly
 * laissez faire ("let be"/"hands off") capitalism = theory of free-market capitalism that is NOT purely practiced in America
 * related to social darwinism - companies either succeed or die out --> survival of the fittest
 * US has mixed economy --> both socialism + capitalism ; gov. does play roles though programs like food stamps, unemployment benefits, social security, etc. & regulates business through rules/taxes
 * gov. doesn't intervene through gov. rules/regulations/taxes ; gov. prevents monopolies
 * US is sometimes called welfare capitalism

- industries & businesses - banks - workers/unions - consumers - investors - stock market - schools and education
 * Elements of the Economy:**
 * -** gov. : rules, regulations, taxes, welfare programs


 * Economy** is a system in which a group of people manage their __resources__ after processing, distributing, and consuming goods, services, and currency.