BUS 1050 1nd Edition Lecture 5Outline of Last Lecture I. Walden’s Theory and living between wants and needsOutline of Current Lecture II. Socretes, Plato, and Aristotle TheoriesIII. Socialistic SocietyCurrent LectureSocrates->Plato-> Aristotle480-470 Persian War->Themistodes-Pericles->430-405 Peloponesian War->399 Death of Socrates->390-380 The Republic->370-360 The Politics (Years in BCE)Pericles (Philosophy Emperor)Believed that arts could change economics. Began plays and the structure of entertainment. When businesses begin producing things that people need to what people want, it becomes an issue.For example, Our government pushes us to increase out standard out living. With that, our GDP (Gross Domestic Product) increases (currently 17-18 trillion). The republic eventually replaces Athens. Plato was influenced by Pericles and created a set of rules for a dictator for the republic. The Socialistic Society Gold Class belongs to highest form of government. Silver Class involves military and government relations. Bronze Class includes commercial people. Aristotle and Plato believe that society is not at the right state to establish a perfect system of vote and government. Gloucon (Story of Gyges) AdemantusSocretesThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Sub-rosa (Activities below the table) enthical. The ring in the story of Gyges. If ring fell into the hands of good or bad, the user will eventually give into maximizing self interest. NEEDS->Interdependent-> Division of LaborSocial Division of Labor: Experience Curve, Lower CostsLower Costs: Lower Prices, Quality, DistributionPage 111, Line 42 (Social Division of Labor)Division of Labor is necessary for growth of a larger group. Page 111, Line 73, Must engage in Foreign TradePage 112, Lines 1-40*. Most important things to have (Aristotle) is money. Manufacturer (Homo Faber) -> Merchant (Wholesale) -> Shopkeeper (Retailer)-> Consumer.Merchant and ShopKeeper is known as Homo Economics.Consumer is known as homoconsumens. Agora (Marketplace). Page 112, Line 62. Redirection from needs to wants. Page 113. Line 1. War and battle for land. Aristotle- Art of Acquisition. Needs are Natural Wants are
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