In his book "Looking Backward", Bellamy tells the story of Julain West, a young American who lived in Boston towards the end of the 19th century (1887). During this period, industrialization was affecting all economic activities, as developments made manufacturing sites more productive and there was also a growing need for a labor force, as the growth of industry was exponential. Throughout all of this process, owners of these businesses were getting very rich.
One night, Wells falls asleep and wakes up 113 years later. He sees Boston as a city who suffered a dramatic change. Technological developments could be seen everywhere. He later learned that the country had adopted a socialist model which was fully executed. Enterprises were run and organized by a central office and labor was distributed by an organization called "The industrial army", who effectively assigned labor resources among the industries.
The book had great reception. Bellamy was praised by many unions, including the American Federation of Labor and The Knights of Labor, which saw the book as a reference on how industrial matters should be managed in the country.
3) Consumer sovereignty concerns the principle of hedonism, individualism and, as some economists often say, selfishness, or exacerbated individual freedom, where the human being has complete freedom to do, whatever he wants and understands and, anywhere, nothing interferes with the decisions of those who need to satisfy their needs. This economic philosophy adopts the principle of laissez faire, or in other words, what works is Adam Smith's infamous <u>invisible hand</u>, or more clearly, the system where the government does not interfere in the economy, it exists only to coordinate the political and social system, without active participation in the development of economic activity. It is what is called in the classic and neoclassical language, an economy of free competition, that is to say, everyone is free before their preferred choices.
4) The economic system in the US is <u>free enterprise.</u> Free enterprise is a principle that establishes the possibility for ordinary people to participate in the market without the need for authorization or approval by the State. If you have the possibility to open a company, sell a product and negotiate the price that is right for you, you owe it to the principle of free enterprise.
The government has a fundamental role in the economic system, such as legislating, placing wealth in the market, as well as inspecting these systems.
5) The price floor wage is the lowest wage a company can pay for an employee. It is established by law and is reassessed every year based on the cost of living of the population, its creation was made based on the minimum amount that a person spends to guarantee their survival.
The most common price floor is the minimum wage--a minimum price that can be payed for labor.
1) United States invested in everything, France used Mexico, Germany used the Jews, and Sweden had IKEA
2) He wanted to make it so that there was no state be left behind, and he was all for helping Nevada recover.
3) we have a government that is vary involved in trying to keep our right and allow for a total freedom where other governments could really careless as long as they are making money.
............Cyrus...............
Answer:
<h2>Spanish</h2>
Explanation:
<h2>Hopes this helps. Mark as brainlest plz!</h2>
