Module 6: Economic and utilitarian theories
  Lecture 16: Capitalism, Socialism, and Mixed Economy
 

QUESTIONS AND EXERCISE

  • What are the three major economic models of economy?

  • What are the defining features of capitalism?

  • What are the main problems with capitalist society?

  • Is socialism a solution to all problems associated with capitalism?

  • What kind of economic system is more conducive to welfare?

  • Is capitalism better than mixed economy for India? Are there some industries that need to be developed in the state sector? Why do you think so?

  • What are the common problems of capitalism and socialism?

  • Is it possible to combine capitalism and humanism? How?

  • What are the major ideas which legitimize capitalism?

  • To what internal contradictions of capitalism do the Marx and Engels refer to?