The Two Most Popular Economic Systems are Capitalism and Socialism

Essay Instructions:

The objective of this assignment is to demonstrate a critical understanding of one of
the topics or thematic areas covered in the course and to further develop your research skills. The
paper provides an opportunity for showcasing your critical writing and analytical skills in
engaging any issues or themes related to race and development. The paper may be on any topic
related to the course. 10 – 12 (no more than 12) double-spaced pages (approx. 2500 – 3000
words) excluding the title page; should be typed, double-spaced, Times New Roman 12-point
fonts, 1-inch margin; title page, and works cited page. Write an academic research essay using a minimum of 5 academic sources. You may use both course material and outside sources. You may choose any theme related to any of the areas we have discussed in the class, or any topic broadly related to race and development. But be sure to narrow the focus of your essay to a specific domain.
The success of this assignment will be highly dependent upon your research practices. Do not simply “google” articles as they are most often not academic sources, but popular Internet articles, or articles from “think-tanks” that are not peer-reviewed. Use at least three readings in the syllabus.
I would encourage you to, as far as possible, avoid popular websites except are used and cited to illustrate a point. I would recommend that you first organize your ideas into an outline before writing your essay, and be very attentive to stating very clearly what your essay is about in the introduction. Be sure to proofread your essay for errors in spelling and grammar before submitting it. You are also encouraged to use subtitles to organize your different arguments.

IDSB07H3: Confronting Development’s Racist Past and Present Summer 2022 Final Paper Due Date: Thursday, 11 August 2022 (Upload on Quercus by midnight)Worth 35% of final grade Objectives: The objective of this assignment is to demonstrate a critical understanding of one of the topics or thematic area covered in the course and to further develop your research skills. The paper provides an opportunity for showcasing your critical writing and analytical skills in engaging any issues or themes related to race and development. The paper may be on any topic related to the course. Basic requirements: 10 – 12 (no more than 12) double-spaced pages (approx. 2500 – 3000 words) excluding the title page; should be typed, doubled-spaced, Times New Roman 12-point fonts, 1-inch margin; title page and works cited page. Guidelines: Write an academic research essay using a minimum of 5 academic sources. You may use both course material and outside sources. Themes: You may choose any theme related to any of the areas we have discussed in the class, or any topic broadly related to race and development. But be sure to narrow the focus of your essay to a specific domain. Thesis help: https://depts.washington.edu/pswrite/thesisstmt.htmlCitations: For citation and referencing please use only APA or Chicago Manual of Style for all written work (see the links below for a quick guide): https://apastyle.apa.org/style-grammar-guidelines/references/examples https://www.chicagomanualofstyle.org/tools_citationguide/citation-guide-1.htmlAlso, you may want to consider consulting reference books on research and writing. An example is: Margot Northey, Lorne Tepperman and Patrizia Albanese, Making Sense: A Student’s Guide to Research and Writing: Social Sciences, 4th ed. (Toronto: Oxford University Press, 2009) Important notes: Before you start the essay, please refer to both its description in the course outline and the guide on written assignment outlined in the course outline. Follow those rules in formatting your essay.

In addition, your essay should be a well-written, well-organised, focused, coherent, and welldefined reflection. *Do not over-quote – a quotation is not a substitute for your own analysis. I would recommend a maximum of four quotes, no longer than three lines each (if your quote is longer than four lines, you must treat it as an extended quote that is indented, etc.). The success of this assignment will be highly dependent upon your research practices. Do not simply “google” articles as they are most often not academic sources, but popular internet articles, or articles from “think-tanks” that are not peer reviewed. Use at least three readings in the syllabus. I would encourage you to, as far as possible, avoid popular websites except is used and cited to illustrate a point. I would recommend that you first organize your ideas into an outline before writing your essay, be very attentive to stating very clearly what your essay is about in the introduction. Be sure to proofread your essay for errors of spelling and grammar before submitting. You are also encouraged to use subtitles to organize your different arguments. Please review and follow the “Elements of Effective Social Science Writing” included below. Elements of Effective Social Science Writing 1. Good writing is clear and precise. When you write sentences that can be interpreted in many different ways you demonstrate that you are thinking in a vague way. Write so that you make clear and precise what you mean. 2. Social Science focused thinking is grounded in the use of supporting arguments/evidence. When you do not use specific examples to make your points clear, you demonstrate that you do not know how to clarify your thought as a social scientist. Give relevant examples and illustrations that are focused on the argument you are making. 3. Good social science focused thinking is logical. When you do not make clear with appropriate transitional words and critical vocabulary the logical relations between the sentences and paragraphs you write you reveal that you do not fully understand the structure of your own reasoning. Make clear the logical relations between the sentences and paragraphs that you write. 4. Social science thinking is analytic. When you fail to employ key concepts and to demonstrate their logic you show that you are weak at conceptual analysis. Use key disciplinary concepts in your written work wherever appropriate. 5. Good social science thinking does not jump to conclusions. Your position is weakened when you make sweeping judgments about a position you have not sufficiently analysed. Show in your writing that you have considered a variety of reasonable ways of looking at the issue.

Essay Sample Content Preview:

The Two Most Popular Economic Systems are Capitalism and Socialism
Since time immemorial, human nature has been characterized by the need for production, allocation of resources, the distribution of goods and services, and consumption. These needs have always inevitably given rise to different types of economic systems. Initially, the ancient people primarily relied on traditional economic systems until the advent of modern economic systems. Modern economic theories were inspired mainly by a political economist known as Adam Smith (Ucaka, 2015). Today, the two most popular economic systems are capitalism and socialism. The capitalistic system embraces private production and ownership of property. On the contrary, socialism espouses a collectively owned production, usually with respective governments acting as the central entities. This piece explores, in detail, racial capitalism.
Racial capitalism was originated by Cedric Robinson, who developed the term to deconstruct the notion that the largesse of European society would bring rationality to social relations (Melamed, 2015). Further, Cedric argued that capital could only be termed as such when it accumulates. Accumulation, according to him, can only be through producing and moving through glaring inequality among people from different groups or ethnicities. In this regard, many economic pundits have associated racial capitalism with aspects of white supremacist capitalist development. These aspects include slavery, colonialism, genocides, and migrant exploitation (Melamed, 2015). The economists also hold that racialism and capitalism are joined in the hip; they are inseparable. In essence, racial capitalism is inherently discriminatory.
Elements of Racial Capitalism
Getting the real meaning of racial capitalism has been a complex undertaking, and there has been a variety of definitions in the existing literature. However, there is a consensus that the term was first used by South African Marxists, Leggasick and Hemson, and the National Union of South African Students in 1976 (Go, 2020). These intellectuals primarily used the term to specify and condemn apartheid. This is in contrast to Robinson, who deployed it later to refer to global capitalism. In addition, despite the variations in defining the term, shared features are possibly identifiable.
To begin with, the term implies the existence of a possible profound relationship between racial inequality and capitalism. For instance, many economic commentators have sought to establish a connection between slavery and capitalist development. On the other hand, South African intellectuals seek to prove, beyond a shred of doubt, how apartheid and the South African economy were mutually interdependent. They explore how whites exploited non-whites to gain economic traction. Similarly, some scholars have deployed the term to denote the yawning disparities within the working class. In the same breath, others stress how capitalism pegs its existence on violence and deprivation. In a word, all these observers show that racial capitalism cannot happen in ideal situations.
Secondly, racial capitalism has a global outlook as opposed to a single national establishment. For instance, the South African intellectuals aforementioned a...

Updated on January 26, 2024

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The Two Most Popular Economic Systems are Capitalism and Socialism

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