Comparative Econ Systems
Comparative Econ Systems ECN 408
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This 0 page Class Notes was uploaded by Forrest Crist on Sunday November 1, 2015. The Class Notes belongs to ECN 408 at Marshall University taught by Paul Hamilton in Fall. Since its upload, it has received 12 views. For similar materials see /class/233280/ecn-408-marshall-university in Economcs at Marshall University.
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Date Created: 11/01/15
HOUR 3 Tyler Cannon Billy Crede Ryan Bowman Formal Warning o State Science Institute issues a warning that Rearden metal is needing further study to prove that it is safe o Dr Robert Stadler is a former professor at the Patrick Henry University o Although he has no direct role in the announcement he believes it is necessary 9 Even though he acknowledges the metal as a brilliant achievement State Science Institute o Dr Stadler points out that the SSI had been ineffective at producing a new metal o He also notesthat Itwould be embarrassing if a private individual created something vastly superior than that was created by a government funded organization Discussion 1 Is Dr Stadler a true scientist 0 Does he view his pet institute as more important than actual science The John Galt Line o Dagny tells James Taggart that her plan to actually build the Rio Norte line out of Rearden metal is to start a new company The John Galt Line o Dagny Explains her plan to Fransico He refuses to give her funding Getting the Metal o Dagny approaches Hank Rearden to start rolling the metal for the John Galt line a He not only agrees to start production on the metal but also contributes significant capital to the project e In Hank s office Hank begins to confess his feelings for Dagny o Saying that her best feature was that she was the best business woman he ever knew w Significance showing his values The Equalization Bill o At the crescendo of his love confession to Dagny they are interrupted They are told that a new bill is being passed into law The Equalization of Opportunity bill o Limits the number of companies an individual can own to a single entity o Consequences Hank Rearden has to sell off all of his other businesses Dwight Sanders has to stop making locomotives because he already manufactures airplanes He promptly disappears Discussion 2 How does this effect the economy as a whole Beginning Operations o The John Galt line has many orders before it even starts despite the public doubt o Why is this o What does it say about the public sector a The leader of train directors union tries to refuse to run the John Galt line o Dagny encourages him to allow the freedom of his engineers to choose to run the line or not Beginning Operations o Dagny asks employees of Taggert to volunteer for the first run on the John Galt line 9 She receives an ovenNhelming number of volunteers o Both Dagny and Rearden decide to ride in the cab o The editor of the paper covering the launch of the first train wanted everyone to look scared because they were travelling on Rearden metal rail Crossing the Bridge o A militia was formed to protect the railway from saboteurs Why did these people have such a vested interest o The train easily crossed the bridge of Rearden Metal o They were greeted with a standing ovation at the receiving platform The Wyatt House a After the first run Ellis Wyatt invites both Dagny and Hank to his house for their resounding success a That evening after dinner Hank and Dagny become intimate Rearden and Dagny s Vacation o Dagny s interest in the Twentieth century Motor Company leads her to ask Hank to take her there on their vacation o The factory was in ruins and Dagny states that it is like viewing the autopsy of a lover o As they were exploring the factory she finds an object of unknown wiring fueled by an unknown fuel The Motor o They discover that the motor was planned to run off of static electricity pulled from the air o Obviously this would restructure the world economy Discussion 3 How would this discovery effect the characters in the book and the economy at large The Fate of Twentieth Century Motor o The approach the mayor of the local town regarding information on the creator of the engine o He states that property had changed hands more times than he could remember 6 There was also a banker that loaned money form his heart instead of for financial success His bank quickly failed The Death of Colorado o In the midst of their search Hank and Dagny are told of a plan to kill Colorado o This plan is put in place by the neighboring states to limit the amount of train cars that trains in Colorado can pull to the amount of the surrounding states o Orren Boyle also wants the preservation of livelihood act Preservation of Livelihood Act o This law would only allow the same amount of Rearden metal to be produced as competing steel mills could produce o Another group wants a law passed that would make it illegal for states based in the East to move West What patterns can you draw from the legislation passed Eugene Lawson o Dagny travels to talk to the former leader of a major bank in Wisconsin 9 The same bank that handled the Twentieth Century Motor Company 6 He says that he never loaned money based on greed he loaned it on need e After much delay Dagny pries from him that the former manager of the Factory was named Lee Hunsgen LAST SLIDE