Free Trial Lesson – Expert: Society and Economy

READING ALOUD

Let’s read the dialogue. I will be Sam and you will play Alice. After reading it once, we’ll switch roles.

READ

I don’t understand why people think capitalism is bad. I simply don’t believe in the idea that the poor become poorer and the rich get richer.
We have to admit that capitalism is not perfect. For example, capitalism is said to have worsened income inequality and promoted corporate greed.

I disagree. Capitalism encourages faster economic progress as people’s hard work is rewarded with bigger income opportunities. Because of the competition, we enjoy a lot of things at prices and quality we can afford.
Those are great points. However, with capitalism, we need money to earn money. Education and healthcare are expensive, especially with less government support.

That’s true. Still, because of the competition, we have more businesses, thus more jobs for everyone. Although, I agree with you that capitalism is not perfect.
Indeed. That’s why most countries have mixed economic systems. Government regulation plays a very important role in ensuring that society gets better as a whole and everyone benefits from it.

CHECK YOUR UNDERSTANDING

Briefly summarize the dialogue and discuss your opinion on its contents—particularly, which ideas you agree with and do not agree with.

ANSWER

GUESS THE WORD

Choose the correct meaning of the underlined word in each sentence.
ANSWERS
  1. c
  2. b
  3. a

ANSWER

1. The minister warned that the continued economic decline would lead to the increase of the impoverished population.
a. struggling
b. worried
c. extremely poor
2. The organization raised enough fund to help families living in destitution.
a. sadness
b. poverty
c. isolation
3. Vulnerability to changes in international trading conditions is not good on the economy.
a. exposure to harm
b. problems
c. predictability

READING ALOUD

Read and take note of the important points in the article.

READ

According to the World Bank’s data of 2013, the world has become a better place. It is estimated that there are four billion middle class individuals due to a steady decline of the impoverished population to almost one billion. In fact, an approximate of 10% of the world’s population remains in destitute conditions.

Globalization offers faster economic growth, new economic opportunities, and higher living standards. However, it seems that highly developed countries are the only ones who benefit in globalization. Economic development in poor countries, preserving the environment, and other poverty concerns have been neglected. Thus, globalization increased the vulnerability of less developed nations to international economic growth.

EXPRESSING OPINIONS

Please answer the questions about the article.

ANSWER

1. What are the benefits of globalization as stated in the article?
Answer:
2. What are the problems with globalization as stated in the article?
Answer:
3. What is your opinion on globalization? How does it affect your country?
Answer:

CONVERSATION PRACTICE

Let’s talk. Please answer the questions and express your thoughts.

ANSWER

1. What do you think is the best type of government? Why?
Answer:
2. What do you think are the economic concerns your country should prioritize? Why?
Answer:
3. How is the education in your country? What are the problems your society is facing in education?
Answer:
4. How is healthcare in your country? What are the problems your society is facing in healthcare?
Answer:
5. How do you see the world in 20 years?
Answer:
DISCUSSION PRACTICE

Discuss the following statements as best as you can.

DISCUSS

1. “When the aristocracy catches a cold, as it is said, the working class dies of pneumonia.” ― Jordan B. Peterson
Answer:
2. “We are not makers of history. We are made by history.” – Martin Luther King
Answer: