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Exercise 6

Answer the questions:

1. Where does the word «fascism» come from?

2. How do private property and the profit motive correlate with the interests of the state under fascism?

3. What did economic fascism in Italy grow from?

4. What was for the Italian nationalists the sure way to win a greater share of the world\'s wealth?

5. How were economic decisions made in Mussolini\'s Corporative State?

6. What program did Mussolini begin in 1925?

7. What measures were taken to make Italy self-sufficient economically?

8. What do Mussolini\'s fascism and Hitler\'s nazism, as economic systems, have in common?

9. What signs of fascism\'s failure in Italy were visible before World War II?

10. Whose needs did Mussolini want to satisfy by building the system of Corporative State?

2. Экономические учения (Economics)

1

– What is Economics?

– Economics is extremely useful as a form of employment for economists.

2

– What is an Economist?

– An economist is an expert who will know tomorrow why the things he predicted yesterday didn\'t happen today.

3

– How do Economists work?

– Economists don\'t answer the questions others make because they know what the answer is. They answer because they are asked.

4

– Why is Economics so helpful?

– Economists have forecasted 9 out of the last 5 recessions.

5

A study of economics usually reveals that the best time to buy anything is last year.

Economics and Life

1

A grade school teacher was asking students what their parents did for a living. «Tim, you be first. What does your mother do all day?»

Tim stood up and proudly said, «She\'s a doctor.» «That\'s wonderful. How about you, Amy?» Amy shyly stood up and said, «My father is a mailman.» «Thank you, Amy» said the teacher. «What does your parent do, Billy?» Billy proudly stood up and announced, «My daddy plays piano in a brothel.» The teacher was aghast and went to Billy\'s house and rang the bell. Billy\'s father answered the door. The teacher explained what his son had said and demanded an explanation. Billy\'s dad said, «I\'m actually an economist. How can I explain a thing like that to a seven-year-old?»