Discussion Question: The Economy

Chapter 17 highlights what is, in many ways, the very basis for sociological thought, the Economy. Many of the first sociologists based their theories on how the economy of society works.  So your text talks about two major types of economies though there are many more out there, Socialism and Capitalism. In keeping with what is happening in our world today, I have posted two videos for you, One is of Bernie Sanders talking about what is wrong with Capitalism, and the other is Rand Paul talking about what is wrong with Socialism. While this is not going to be a discussion about politics, I am interested to hear your thoughts on these two very different perspectives in the light of the information presented in your text.
– What types of capitalism do we observe in our society today?
– Where could we benefit from socialism in our society?
– What is contributing to the underemployment and unemployment in our society? (Please use data to support your claims)
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Macionis, J. J. (2018). Sociology (17th ed.). Pearson Education, Inc.