In Chapter 11, microfinance is discussed, it is empowering women, in areas struck by poverty. Microfinance is allowing women to borrow lesser amounts of money and by paying it back bi-weekly it is keeping them coming back and when they pay off their first loan they are allowed to borrow more, larger loans. Women are taking back the power. As we see in Saima’s story below, her husband no longer beats her and she calls the shots and now her husband works for her.
Are payday loans really that bad? This article goes in depth about how payday loans work and what it is, the opinions of both sides of the argument about payday loans, and the high interest rates that payday loan lenders charge. Payday loans are called such because the day borrowers receive their paycheck is when they can pay back the loan. Payday loans are small, short-term loans that can assist with any emergency payment such as a car accident, weather damage to a person’s house or unexpected hospitalization. The borrower must have a job and a bank account to borrow from a payday lender.
THis is supported by the idea of “social darwinism” which essentially stated that the weak would not succeed in nature and this was a good thing because it caused evolution and this was applicable to the economy as well. This is significant, because this justification was cited by many others, including the government in laws regarding regulation of labor. The main point of the 2nd passage is that the divide between classes is growing wider--as the rich get richer, the poor get poorer. The theory called conspicuous consumption states the wealthy spend money on frivolous things only to display their wealth, which is in contrast to those barely able to sustain their families paycheck to paycheck. THis would create not only economic disparity, but social animosity between the rich and poor.
Marx’s point of view was that the working men had no country to begin with because they are property of the bourgeoisie and therefore the ignorant ideology that the bourgeoisie tried to impose on the proletarians, that they should be loyal to their country and they and the bourgeoisie are one in the same because they are both striving to better their country, was utterly vacuous. Once the proletarian were to come in power and the “exploitation of individual by another is put an end to, the exploitation of one nation by another will also be put an end to” and the world will be as it should be (page
They draw their conclusion from Karl Marx’s view of class and societies. Outside forces prevent groups or individuals from reaching certain goals or ways of living. That outside force is typically the upper class. The upper class have created an exclusive society for themselves that lock in their wealth at the expense of everyone else’s well-being. For example the CEO of Wal Mart, Michael Duke receives a $35 million yearly salary.
New York's Payday Lending Ban New York's Payday Lending Ban Ordinary people in New York who have less-than-perfect credit face regulatory pressure to do what politicians decide is "good for them" as free enterprise, self-determination and the rule of law take yet more hits from “well-meaning and concerned” politicians and the big banks. Despite overwhelming evidence showing that ordinary working people from the lower end of the economic spectrum support and rely on payday loans in overwhelming numbers, politicians and established lenders continue to chip away at the industry because it's an easy target. This conflict between what people want and what politicians do "on their behalf" for political advantages is astonishingly clear in New York
This concept is based on Darwin’s “survival of the fittest,” but applied to the human constructs of Capitalism. The theory of social darwinism is that “certain people can become powerful in society because they are innately better.” This theory was fueled by the idea that you need to have money to make money, which meant that because some people were already supplied with their own sum of money, it meant that the rich would get richer, and the poor would get poorer. The group that most commonly benefitted from this concept were men, usually white, wealthy men, and would leave lower class white workers, farmers, women, and minorities to be all placed below those up at the top. All of these groups had different experiences as to how the theory affected them; Lower Class workers were working very hard at lower wages, and responded in outrage when they received a ten percent decrease in wages, which created the need for unions and labor parties to help meet their needs.
In his capitalist system “the worker receives means of subsistence in exchange for [their] labor power,” which serves no purpose but “immediate consumption,” whereas the capitalist receives “a greater value” than they had previously (Marx 209). The worker, despite creating additional earnings for the capitalist, only receives their “means of sustenance,” or their bare minimum for survival. Because the worker has been alienated from their work and the system however, they normalize this exchange, and are content with receiving a mere fraction of what they produce, unaware of their exploitation. Alienation provides the framework for both Douglass’ and Marx’s economic systems to function, as it allows the ruling class to establish a norm of
He believes that the wealth of the nation is increased by the increase of production, the increase of trade, improvement of technology, and expansion of the nation’s market. He believes that all of these things can be the result of division of labor between different classes. I think that Adam Smith would agree more with Ure because these ideas align with the support of industrial capitalism, which is what Ure believed in as well. Even though Smith and Ure may not agree with industrial capitalism for the same reasons, they were both still supporters of it, whereas Marx was not as much of a
Micro-loans are not what they seem to be. Micro-loans are meant to help women in developing countries, yet instead, micro-loans are hurting women. In addition, women are not benefiting off of micro-loans. In the United States of America Women can make their own decisions, but in developing countries, men make almost every decision for them. Men in developing countries can do anything to women especially their wifes which makes it hard for the women to be able to support themselves and their families.
Marx advocated revolution by the Proletariat against the Bourgeoisie to reduce income and social class inequality. However, Smith felt that the Invisible Hand and the division of labour would eventually bring the poor out of poverty, but may not entirely resolve the income inequality or equal distribution of
Have you ever wondered why you react to a certain situation, like how you jump when cold water is being poured down your back . How you react is an example of what the nervous system does for you. So what is the nervous system? The nervous system is a complex collection of nerves and specialized cells known as neurons that transmit signals between different parts of the body. The nervous system is responsible for controlling how your body acts and what it does, such as talking, walking, breathing, learning, and swallow.
Marx believes that by having such two classes where one class exerts dominance over the other, it will lead to disastrous outcomes, where income
As we can see from this quote that was written in the communist manifesto by Marx himself, It is clear that he believed that as a result of this oppression by the bourgeoisie the proletarians would revolt against the capitalist system and this would result in a
Marx’s argues that the surplus of people are forced in the form of fear into the workforce. (might
