The Tempest, Act 1
What is a market economy?
It is a market which is not produced for own consumption, but for later venda. It is a specialized economy.
How are free trade and protectionism?
Free trade between countries defended the free market without any tariff. Protectionism defended the idea of imposing taxes on imports to protect domestic trade.
Explains how a corporation and how benefits are distributed.
The company needs capital that is divided into parts (shares) Some people who buy shares and buy more shares the company is managed.
Then, the benefits are distributed proportionally to shareholders. These portions are called dividends.
Define briefly what capitalism.
Capitalism is an economic system based on private ownership of means of production (factories, machinery and stocks).
Discusses the role of banks in industrial development.
The banks supplied capital firms, acting on direct investors (buying shares) or facilitate payments through checks and bills of exchange.
Which social groups characterized the new industrial society? Discuss some of its features.
Bourgeois society and the proletariat.
The bourgeoisie were the owners of companies and industries. This social group was divided into three groups: the big bourgeoisie, the petty bourgeoisie and middle bourgeoisie. Bourgeois society became a social model that had to imitate.
The proletariat were the workers who worked in industry. This group was forced to work 12 to 14 hours a day to take a salary that was not enough to keep the whole family. That meant working with the whole family, including children. Had little sanitation, causing major epidemics of typhus and cholera that plague the population.
What were the first workers' associations? What goals trying to achieve?
The Mutual Aid Societies. Its purpose was to act as resistance to help companies of its members financially in case of illness or unemployment
What is a union? What were the first claims that they do that?
It is an association of workers to defend their interests.
They wanted to improve the working conditions of workers and who made the first claims were defending the right of association, reduced working hours, better salaries and regulation of child labor.
Explains and compares Marxism and anarchism. What fundamental difference between one and another?
Marxism achieve a state worker who wanted to socialize the property, to remove social classes, achieving universal suffrage extended to women. They also create socialist workers party. Anarchism rejected any kind of authority, either for workers or not. Have opposed any participation in political life and the organization of workers in political parties.