Choose one role to play in this project. Describe what it would be like to work in each of the three economic systems: pure capitalism, mixed capitalism, and pure socialism

In this exercise, we will build three societies: pure capitalism, mixed capitalism, and pure socialism. On the last page of this document, there is a diagram portraying a generic society. We cannot tell what type of economic system it has just by looking at it. The stick figure, whose name is Sticky, plans to develop a piece of real estate into residential or commercial use.

?Developing real estate development requires many players. Look at the diagram, starting from the top left, there are raw material providers, building material retailers, and builder/construction companies, including all subs. On the right, there are Central National Bank, Secondary Market, and institutional and non-institutional lenders that finance the project.

Choose one role to play in this project. Describe what it would be like to work in each of the three economic systems: pure capitalism, mixed capitalism, and pure socialism. Use your imagination and creativity. You may present your role in narrative form or you can write a business letter, email ***

Here are some possible roles to choose from: banker processing loan applications, construction company, government official such as Federal Reserve chairman, manager of a credit union, concrete subcontractor, seller of raw material, property manager, and real estate agents.

It is important to show that you understand the three types of economic systems by not contradicting your roles in each system. For example, in a command economy, I would not be able to say that I own 20 acres of forest land because the government owns all natural resources..



1. Mixed capitalism:

I was the sub contractor who installed solar panels on Sticky’s building. First, I had to take few courses and pass ***

2. Pure capitalism:

I was still the solar subcontractor. I had incorporated Light-to-Power, Inc., and I was bidding the job with Sticky. I gave him a quote as follows:
Dear Sticky,
I just lost my job. I heard you were building some new houses. I was a roofer before and an electrical engineer. I think I can install solar panels on your roof at the price of $1000 per panel plus inverter and all the wiring at $3,000 for a total bid of $25,000. My supplier is Panels-From-The-Sun, Inc., a privately owned and operated company in the U.S. that has been in business for over 30 years. They got the best prices on the market.
Light-to-Power, Inc.

I got the contract, but nothing was written since there was no statute of frauds. But I had never installed solar panels. I only watched how-to videos on YouTube. There were no regulations or licensing requirements. I showed up on the job, climbed onto the roof without any harness and started working on them. I had my laptop with me so I could watch videos on how to do the installation. I was able to finish the job. But because I took time to learn the skill, I finished late. Sticky called me and said, “You are a week late. I’m not paying you a dime. You said you were going to finish last week.” I was not paid for the job. I sued Sticky in court. A jury heard our case and ordered Sticky to pay me $23,000 because I was late and he lost $2,000 in rent.

3. Pure socialism:

I was the commissioner of the Department of Energy Conservation (DEC), a CA state agency. I saw the need for all new homes to have solar panels on them. DEC owned the only solar company in the state, Sun-Energy-4All. Sticky submitted his plans. I wrote Sticky a letter:

Dear Sticky:

It’s good to see that you have the plans ready for this real estate development. But I am requiring you to have 22 solar panels on the roof of every home to be installed by Sun-Energy-4All. The committee and I feel it is time for the people to convert to renewable energy. I have issued an order that every new project be equipped with our panels. I have also set up factories manufacturing inverters so you cannot to order them from overseas. You will use our 160-watt panels at a cost of $1,200 each. Inverter boxes are made by San Diego Sun Spots. Our utility subsidiary San Diego Oxygen and Electricity will reimburse your residents for unused electricity at a rate of 1 cent per watt. Reimbursement is done by discounting the monthly land-lease rent which you leased from us for 99 years. This is the best allocation of energy. Once you have the first phase completed, I will come by to inspect your work and collect an inspection fee of $1000. Any violation of OSHA, building codes, electrical, plumbing code, and the Uniform Color Code will result in a fine of $5,000.

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