{"id":29010,"date":"2024-10-02T04:24:01","date_gmt":"2024-10-02T02:24:01","guid":{"rendered":"https:\/\/phoneenglish.es\/blog\/?p=29010"},"modified":"2024-10-06T06:58:40","modified_gmt":"2024-10-06T04:58:40","slug":"is-capitalism-actually-broken","status":"publish","type":"post","link":"https:\/\/phoneenglish.es\/blog\/2024\/10\/is-capitalism-actually-broken\/","title":{"rendered":"Is Capitalism Actually Broken?"},"content":{"rendered":"\n<p><strong><em>B2 &#8211; Upper Intermediate<\/em><\/strong><\/p>\n\n\n\n<p>Capitalism is an economic system where private individuals or companies own and control the production of goods. In modern capitalist economies, the prices of goods and people&#8217;s income are mostly determined by the market, based on how businesses and individuals interact, rather than by government control. Capitalism is based on private ownership, the aim of making a profit, and competition in the market.<\/p>\n\n\n\n<p>Watch this video trying to explain whether capitalism is, in fact, broken. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Is capitalism actually broken?\" width=\"580\" height=\"326\" src=\"https:\/\/www.youtube.com\/embed\/wcR815SfWOU?wmode=transparent&amp;rel=0&amp;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><strong><strong>Vocabulary Questions:<\/strong><\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>What is the meaning of \u201c<strong>to take hold<\/strong>\u201d? <em>\u201cIn England, the country for which we have the best data before capitalism, the share of income going to the top 5% of income earners, peaked at around 40% in 1801, and then, as capitalism <strong>took hold<\/strong>, it fell steadily to a low of about 17% in 1977.<\/em>&#8221; Give 2 synonyms or similar expressions and use this phrase in a sentence.<\/li>\n\n\n\n<li>What does the phrase \u201c<strong>on the other end of the spectrum<\/strong>\u201d mean? <em>\u201c<strong>On the other end of the spectrum<\/strong>, at 100%, private citizens own all the capital.\u201d <\/em>Give 2 synonyms or similar expressions and use this idiom in a sentence.<\/li>\n\n\n\n<li>Explain \u201c<strong>laissez-faire capitalism<\/strong>\u201d. <em>\u201cAt the height of the Industrial Revolution, the dials were set pretty close to what we now call &#8220;<strong>laissez-faire<\/strong> <strong>capitalism<\/strong>&#8220;.\u201d<\/em> Use this term in your own sentence.<\/li>\n<\/ol>\n\n\n\n<p><strong>Discussion Questions:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Explain the difference between the &#8220;three dials&#8221;.<\/li>\n\n\n\n<li>Share your thoughts on capitalism.<\/li>\n\n\n\n<li>Who do you think gains from capitalism, and who faces challenges because of it?<\/li>\n\n\n\n<li>What are the advantages and disadvantages of capitalism?<\/li>\n\n\n\n<li>Are there better alternatives to capitalism? Cite some of them and give examples, too.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>B2 &#8211; Upper Intermediate Capitalism is an economic system where private individuals or companies own and control the production of goods. In modern capitalist economies, the prices of goods and people&#8217;s income are mostly determined by the market, based on how businesses and individuals interact, rather than by government control. Capitalism is based on private [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[291,125,292,290,14],"class_list":["post-29010","post","type-post","status-publish","format-standard","hentry","category-homework","tag-b2-upper-intermediate","tag-economy","tag-first-certificate-fce","tag-listening","tag-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is Capitalism Actually Broken? | phone english blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/phoneenglish.es\/blog\/2024\/10\/is-capitalism-actually-broken\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Capitalism Actually Broken? | phone english blog\" \/>\n<meta property=\"og:description\" content=\"B2 &#8211; Upper Intermediate Capitalism is an economic system where private individuals or companies own and control the production of goods. In modern capitalist economies, the prices of goods and people&#8217;s income are mostly determined by the market, based on how businesses and individuals interact, rather than by government control. 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