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Historical Context: Your instructor makes the following argument: The Corporation was and is a product of modernism. The essence of Modernism has always appeared to me, to be boiled down to this notion: "the separation of tasks - specialization." The corporation was an extension of the separation of tasks: the state provided the security; the corporation sought out mercantile/trading success. The Reformation perhaps was THE inflection point that turbocharged this trend, eliminating the monopoly on thought held by religion paving the way for science, reason and logic.
Question: In this environment, a state wanting to advance its wealth to protect its security might see the advantages of granting monopolies to corporations to pursue trade, while it concentrated on security. Does this statement resonate in the 21st century globalized world we live in - use examples to make your point?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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