BUS 1050 1nd Edition Lecture 6 Outline of Last Lecture I Socretes Plato and Aruistotle Theories Outline of Current Lecture II Art of Acquisition III Walden s theory of needs and wants IV The Great Learning Current Lecture Art of Acquisition Needs Natural HH Economics Wants Unnatural Retail Trade Who we are depends on what we own allowing engagement in wars This king has set no boundary to riches Plato did not provide enough information to what boundaries we eventually face L 81 P 115 Fair trade and the introduction of coin P 116 L 20 Money was designed for equity in purchasing and owing P 117 L 99 Thales introduces a monopoly through the olive press Antithesis Thesis Plato Needs Aristotle Needs require Information System Money Time at 28 00 Infinite Growth and Maximize self interest through power privilege and place Analects Mencius Laissez Faire Leave it alone Leave business to be apart from government Natural and considerate regulation Focus on social benefit Universal Quality Universal Opportunity Economic Freedom 3 doctrines of Confucius P 120 L 66 5 ideas of excellence Follow the wants Help Provide Education System Regulate at a social level Fight with them These 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 P 121 L 1 Supply is high prices low Supply is low prices high Supply and Demand is introduced by confucious P 122 L 28 The Great Learning Principle Supply should be greater than demand P 122 L 44 Equalizing Distribution Produce wealth more than consumption thus creating opportunity The Great Learning Solution Equalize Distribution based on Supply and Demand Find the money Increase production Employment Increase personal income More Demand Increased Consumption Back to increasing production Adam Smith Wealth of Nations Theory of Moral Sentiments Plato Aristotle Zeno Stoic School P124 L 62 First Principle Infinite Self Interest P 124 L 71 Lowering prices P 125 L 73 What is value
View Full Document
Unlocking...