Friday, March 29, 2013

The pitfall of "Privatization" in Pennsylvania and elsewhere

On March 25, 2013 Raphael Satter of the Associated Press posted an article about the death of Boris Berezovsky.  Whether intended or not, Satter's article, Berezovsky's billions: How the tycoon lost so much, seems to imply that Berezovsky, who capitalized on capitalistic "privatization", became a victim of his own greed.

Under the heading "FOUNDATIONS OF A FORTUNE", Satter writes:
Berezovsky, a mathematician, made his fortune in the 1990s during the catastrophic privatization of the Soviet Union's state-run economy. That era was marked by hyperinflation, contract killings and rampant corruption. As Russia's GDP crumbled, oligarchs leveraged their ties to ruthless criminals and crooked officials to tear off huge chunks of the country's assets for themselves, draining resources and stripping factories to build fabulous fortunes.
Why is this a "big deal"?

Below are two pages from two different Encyclopedias.  FUNK & WAGNELL defines "Communism"; WINSTON'S CUMULATIVE ENCYCLOPEDIA defines "Feudalism".  
After you read these Encyclopedia entries, answer the question: 

What form of government has the United States?