A200, History of American Capitalisms

Response sheet 2, for lecture class, Thursday

1.  According to Mitchell, what did “economy” mean in, say Adam Smith’s famous 1776 moral philosophy text (it was not an “economic” text, especially as it was prescriptive fantasy, not descriptive reality):  The Wealth of Nations?



2.  What was happening in the world in the 1930s that inspired some intellectuals to invent the concept of an “economy”?  What problems did they manage to perceive, and try to solve?



3.  What did they imagine were three main components of an “economy”?



4.  McIndoe swiftly bypasses the easy target of people who believe nonsensical conspiracy theories, and instead focuses his serious concern on another social constituency, one which he experienced firsthand while being in character.  What kind of people worries McIndoe the most?  Why them?