Famous economists

Adam Smith is considered “The Father of Economics” after writing his world famous “The Wealth of Nations”. In Smith’s view, a nation’s wealth depends upon production. How much it produces, he believed, depends upon how well it combines labor and the other factors of production. The more efficient the combination - the greater the output, and the greater is the nation’s wealth. The economy works best without government regulation. Firms consider only their own interests and produce only those products that consumers want, and produce them at the lowest possible cost. Thus they try to outperform their competitors and gain the greatest profit. This self-interest benefits society as a whole as it gives it more and better goods and services at the lowest prices. Without interference supply and demand come into balance, and everyone who is looking for job can find it at a good wage.

John Maynard Keynes is the theorist who brought Economics into the 20^th century. In the book “General Theory of Employment, Interest and Money” he demonstrated that government can take steps to reverse recession or inflation and has an active role in economic stabilization.

Another influential economist David Ricardo is famous for demonstrating the advantages of free trade. Free trade is a policy in which tariffs and other barriers to trade between nations are removed. He demonstrated that one nation can profitably import goods from another even though the importing country can produce those goods itself at the lower price.

The life of manufacturer and philanthropist Andrew Carnegie is a perfect example of the “rags to riches” philosophy of the XIX century. He was born in Scotland at parents who were craftsmen. While working for Pennsylvania Railroad he made a small investment in stock and got a considerable return. He successfully invested in the steel industry and at the age of 30 became a prosperous businessman. By 1901 his business was worth a quarter of a billion dollars. Carnegie was interested in writing and produced several books on his business theories, social progress and government. In his essay “Wealth” published in 1889 he suggested that the best method of social reform lies in the uses made of wealth by wealthy. After his retirement Carnegie tried to demonstrate his ideas by using his personal fortune for establishing libraries, supporting education and leading the international peace movement.

Задания к тексту «FAMOUS ECONOMISTS»

I. Прочитайте и устно переведите текст.

II. Найдите английские эквиваленты в тексте:

принимать меры по предотвращению снижения спроса и инфляции, стабилизация экономики, влиятельный, преимущества свободной торговли, пошлина, с выгодой, импортировать товары, производить товары по низшей цене, филантроп, “из грязи в князи”, вложить деньги в акции, получить прибыль, процветающий, социальное развитие, отставка, личное состояние, поддерживать образование, возглавлять движение за мир.

III. Письменно ответьте на вопросы по тексту:

1 What is the famous book by Adam Smith?

2 What did John Keynes demonstrate?

3 What is free trade according to Ricardo?

4 How did Carnegie make his fortune (wealth)?

5 What kind of books did Carnegie produce throughout his life?

6 How did Carnegie demonstrate his ideas about social reforms?

IV Выпишите из текста 5-10 существительных, поставьте их во множественное число.

V Задайте общие вопросы и поставьте в отрицательную форму следующие предложения:

1 David Ricardo is famous for demonstrating advantages of free trade.

2 They try to outperform their competitors.

3 He was born in Scotland.

4 Carnegie made a small investment in stock and got a considerable return.

VI Выпишите из текста глаголы в прошедшем времени (10 глаголов), определите, являются они правильными или неправильными, дайте исходную форму.

VII. Дайте литературный перевод первого абзаца (письменно)

Текст для домашнего чтения №4

MONEY

Money is used for buying and selling goods, for measuring value and for storing wealth. Every society has a money economy based on coins and paper notes. But this has not always been true. In primitive societies a system of barter was used. Barter was a system of direct exchange of goods. Somebody could exchange a sheep, for example, for anything in the market place that they considered of equal value. Barter was a very unsatisfactory system because people’s needs seldom coincided. People needed a more practical system of exchange and different money systems developed based on goods which members of the society recognized as having value. Cattle, grain, teeth, shells, feathers, skulls, salt, elephant tusks and tobacco have all been used. Precious metals gradually took over because, when made into coins, they were portable, durable, recognizable and divisible into larger and smaller units of value.

A coin is a piece of metal, usually in a disk shape, whish bears letters and numbers showing its value. Until the eighteenth and nineteenth centuries coins were given a monetary value based on the exact amount of metal contained in them. Most modern coins are based on face value, the value that governments choose to give them, irrespective of the actual metal content. Coins have been made of gold, silver, copper, alumunium, nickel, lead, zinc, plastic, and in China even from pressed tea leaves. Most governments now issue paper money in the form of notes, which are really “promises” to pay. Paper money are easier to handle and much more convenient in the modern world. Cheques, banker’s cards, credit cards are used increasingly and now it is possible to imagine a world where money in the form of coins and paper currency will not be used. Today, in the United States, many places – especially filling stations don’t accept cash at night for security reasons.

Задания к тексту «MONEY»

I. Прочитайте и устно переведите текст.

II. Найдите в тексте и выпишите эквиваленты следующих выражений:

покупка и продажа товаров, измерение стоимости, сохранение богатства, монеты и бумажные деньги, система обмена (2), прямой обмен товарами, рынок, равной стоимости, товары, драгоценные металлы, в форме диска; буквы и цифры, показывающие стоимость; лицевая стоимость, выпускать бумажные деньги, обращаться, валюта.

III. Подставьте подходящие по смыслу слова: coins, cash, currency, money в предложения, переведите:

1. The … of Japan is yen.

2. She has a lot of … in her bank account.

3. It costs … 10 pounds if you are paying ….. It’ll be more if you pay by cheque.

4. Can you change this pound note into ….. for the coffee machine?

IV. Найдите в тексте слова, которые обозначают:

1. Can be divided; 2 lasts a long time; 3 can be carried; 4 can be recognized.

V. Письменно ответьте на вопросы:

1 When was a system of barter used?

2 Why was barter an unsatisfactory system?

3 What did people use as the first money?

4.What goods were used as money?

5.Why did precious metals take over?

6. What is a coin?

7 What are modern coins based on?

8. Is paper money easy to handle?

9. What kinds of money are increasingly used today?

VI. Поставьте предложения в пассивный залог:

1. People needed a more practical system of exchange.

2. Most governments issue paper money in the form of notes.

3. Filling stations don’t accept cash at night.

4. People used cattle, grain, teeth and tobacco as money.

VII. Найдите 5 предложений со сказуемым в пассивном залоге, определите форму сказуемого, дайте литературный перевод предложения.

VIII. Найдите в тексте примеры причастий I и II, переведите их.

IX. Найдите в тексте предложения с инфинитивом; предложения с модальными глаголами.

X. Дайте литературный перевод первого абзаца (письменно).

Текст для домашнего чтения №5

Дата добавления: 2015-07-16