Summary
This research essay is a part of a larger class project to research various aspects of life in New York City. Topics vary from trash in the city, to the diverse effects of climate change, to this essay, talking about the economy, Wall Street, and those who oppose it. Here we compare two very different ideas, capitalism and socialism, ones struggle to overtake another, and the very fine balance of the two that will lead to an efficient and self-sustaining economy.
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Key Words
Capitalism |
Socialism |
An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Wall StreetA collection of firms and businesses centered around a street in Manhattan called "Wall Street". These firms and banks manipulate and control a great deal of the money that moves through the United States. These firms are perfect examples of pure capitalism, and are strongly opposed by the movement called "Occupy Wall Street."
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An economic system in which the production and distribution of goods are controlled substantially by the government rather than by private enterprise, and in which cooperation rather than competition guides economic activity.
The Great RecessionA period of sharp economic decline leading to the loss of thousands of jobs and the bankruptcy of thousands of businesses big and small. This recession started in large part due to the ignorance and corruption in Wall Street, triggering the formation of the Occupy Wall Street movement.
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Under Capitalism, man exploits man. Under Socialism, it's just the opposite."
The Research Question and Thesis
What does Wall Street stand for and what do they do? What does Occupy Wall Street think about this, and how to they plan to “fix” this “broken” system?
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This essay is about this argument between Capitalism, and those who wish for Socialism, as well as the fighting and arguments that go along with it, the chaos and the uncertainty that this causes, and the political repercussions of these protests.
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