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TE 4                                  THE COMMUNIST MANIFESTO & CAPITALISM

After viewing Richard Wolff on US Wages, American Exceptionalism, Consumerism, and Capitalism on YouTube (C{losed} C{aptioning}  is available by clicking on it at the bottom right of the screen for those who also wish to read along) and reading The CM

I  Please define 7 of the following terms, then cut and  paste in the paragraphs in The CM (with pg #) that describe or foretell this economic dynamic

1.    Industrialization

2.    Consumerism

3.    Managed Health Care, Jingle Writers, Commercial Artists

4.    Multinational Corporations

5.    Advertising Agencies

6.    Napster

7.    Farm Subsidies (paying farmers not to grow parts of their fields)

8.    Euro Disney

9.    Day Laborers, Piece Workers

10.    Assembly Lines

11.    Job Outsourcing

12.    Walmartization

13.    Trade Protectionism

14.    Voting against your own economic interests

II. Then answer the following 2 questions:

1.    What were the differences between the US ratio of Productivity to Wages from WWII until 1979 as compared to 1980 until today. What impact has this had on Income Equality in the US?

2.    To what factors does Wolff ascribe the astronomical growth in student debt over these last decades?

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