TAMU
GEOG 304 -
Chapter 1
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Chapter 1 Capitalism Social system in which markets and production for profit are the primary but not only means of organizing resources Contrast US and Mexico s gasoline market Mexico is all government owned and state produced Pemex Forms of Capitalism Laissez faire or policies Literally freedom completely free market with little to no controls Invisible Hand markets automatically channeling self interest toward socially desirable ends Keynesian Capitalism and a free ish market but with some policies to control market especially in economic downturn
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