Homework
Reading: James Fulcher (2004). Capitalism: A Very Short Introduction (Oxford: Oxford University Press), chapter 1: "What is capitalism?", pp. 1-18.
o What, according to the author, James Fulcher, is the essential characteristic of capitalism? (Word limit: 25).
o In the English cotton industry of the early nineteenth century, what was the main cost to a cotton manufacturer of producing cotton? (Word limit: 25)
o What does the answer to the previous question imply about the source of conflict as industrial capitalism developed? (Fulcher 2004, p. 6)? (Word limit: 50)
o What is "speculation"? Elucidate your answer with the example of housing - how can housing be used as a tool of speculation? (Word limit: 75)
o What are the "means of production" in a capitalist society and who owns them? (Word limit: 50)
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.