Economics with Dr Sabin

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Open the Google Doc at this link .  Read the essay by Henry David Thoreau. The words in bold are defined or explained at the end of the essay.  Answer the questions at the end of the essay. Write your answers on a paper that you will turn in at the end of class. 

  Source: Modified excerpt from The Communist Manifesto by Karl Marx and Freidrich Engels, 1848  Vocab bourgeois: middle class – referring to the factory owners  antagonisms: hatred between groups of people  patriarchal: male  pitilessly torn asunder: turn apart without caring, broken apart without mercy  masses: large groups  proletariat: Marx and Engel’s word for the working class  limb: arm  monotonous: boring  knack: skill ---------------------- The modern bourgeois society...has not done away with class antagonisms. It has but established new forms of struggle in place of the old ones. Modern industry has converted the little workshop of the patriarchalmaster into the great factory of the industrial capitalist. ... They have pitilessly torn asunder the ties that bound men to each other, and have left nothing other than naked self- interest... Masses of laborers, crowded into the factory, are organized like soldiers.... They are slav...

Preview question: What motivates someone to trade with someone else? Source: Adam Smith from The Wealth of Nations , 1776   Vocab  tailor: someone who makes clothes  occupation: job  cultivate: improve  possess: have  endeavors: tries  intends to: tries to or means to  promote: improve  public interest: what’s good for everyone in society  benevolence: generosity  ------------------------ The tailor does not attempt to make his own shoes, but buys them at the shoemaker. The shoemaker does not attempt to make his own clothes, but uses a tailor. The farmer attempts to make neither the one nor the other, but uses those different craftsmen. All of them find it in their best interests to employ their talents in a particular occupation, and to cultivate and bring to perfection whatever talent or genius he may possess... This is the way in which they have some advantage over their neighbors and simply purchase whatever else they have the o...