Economics class video response paper Assignment Example | Topics and Well Written Essays - 500 words

Economics class video response paper - Assignment Example Many young people are usually preoccupied with other things, therefore finding time to maintain a wardrobe inventory might not be easy Another important lesson from the video is the idea of quality when purchasing clothing. It is important to invest in clothing that can be used for a long time. This is especially important for young people who might not have a stable source of income. Investing in quality clothing can prove to be economical in the long run. This requires one to look at the labels on the clothing in order to understand where they are made from and the material used. However, considering the spontaneous purchasing behavior of many youths, it is likely that many of them will not be able to look for these labels. The influence of advertising in shaping shopping choices is great, and this appears to be one of the significant forces influencing clothing choices among the youths. It can be argued that for as long as advertisements with phrases such as ‘Free’ continue to appear, they will influence shopping choices. In conclusion, the ideas presented in the video can be applied not only when s hopping for clothes but also other items. In this video, Moyers discusses the issue of capitalism and how it has affected the American economy. Richard Wolff, an economist, argues that capitalism has failed to delivered the ‘goods’ but instead ended delivering the ‘bads’, and this has led to the inequality witnessed in American today. Although president Obama has preached the idea of equal opportunity, this is not the case in America. Politicians are blamed for not having taken the plight of workers seriously, and this has greatly contributed to the inequality problem. I however believe that the blame is on everyone. When people get what they don’t deserve, they should not be absolved as Wolff does in this video. The problem here cannot be the system but the participants in it.