ARCH 572: ARCHITECTURAL PRACTICE II. Economics
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1 ARCH 572: ARCHITECTURAL PRACTICE II Economics 01
2 AGENDA FOR TODAY WHAT IS ECONOMICS? WHAT ARE THE VARIOUS ECONOMIC SYSTEMS? HOW DOES ECONOMICS RELATE TO ARCHITECTURE? READING QUESTIONS 02
3 ECONOMICS What is Economics? 03
4 ECONOMICS ECONOMICS: The study of how people choose to use resources - American Economic Association 04
5 ECONOMIC SYSTEMS TRADITIONAL ECONOMIC SYSTEM: A system shaped by customs & traditions that follow long-established patterns. COMMAND / PLANNED ECONOMIC SYSTEM: A system in which a centralized power, like the government, controls the economy. MARKET ECONOMIC SYSTEM: A system in which economic decisions are made by individuals or companies. MIXED ECONOMIC SYSTEM: A system that combines elements of the market and command / planned economies. 05
6 TRADITIONAL ECONOMIC SYSTEM TRADITIONAL ECONOMIC SYSTEM: A system shaped by customs & traditions that follow long-established patterns. 06
7 TRADITIONAL ECONOMIC SYSTEM Traditionalism _ Native American Tribes, 18th Century 07
8 TRADITIONAL ECONOMIC SYSTEM Feudalism _ Medieval England 08
9 TRADITIONAL ECONOMIC SYSTEM Traditionalism _ Australian Aborigines,
10 COMMAND / PLANNED ECONOMIC SYSTEM TRADITIONAL ECONOMIC SYSTEM: A system shaped by customs & traditions that follow long-established patterns. COMMAND / PLANNED ECONOMIC SYSTEM: A system in which a centralized power, like the government, controls the economy. 10
11 COMMAND / PLANNED ECONOMIC SYSTEM Karl Marx 11
12 COMMAND / PLANNED ECONOMIC SYSTEM Marxism _ Posters from China & Vietnam, In the Revolution there is justice 12
13 COMMAND / PLANNED ECONOMIC SYSTEM Socialism _ Lenin and Stalin in London, 1907 Russian Socialist-Democratic Party 13
14 COMMAND / PLANNED ECONOMIC SYSTEM Communism _ in Soviet Union and in America, 1920 s 14
15 MARKET ECONOMIC SYSTEM TRADITIONAL ECONOMIC SYSTEM: A system shaped by customs & traditions that follow long-established patterns. COMMAND / PLANNED ECONOMIC SYSTEM: A system in which a centralized power, like the government, controls the economy. MARKET ECONOMIC SYSTEM: A system in which economic decisions are made by individuals or companies. 15
16 MARKET ECONOMIC SYSTEM Mercantilism_ in Venice, 15th & 16th centuries 16
17 MARKET ECONOMIC SYSTEM Colonialism _Portuguese colonialism in Mozambique 17
18 MARKET ECONOMIC SYSTEM Adam Smith 18
19 MARKET ECONOMIC SYSTEM John Stuart Mill 19
20 MARKET ECONOMIC SYSTEM Capitalism 20
21 MARKET ECONOMIC SYSTEM Capitalism _ Marxism is the Guardian Angel of Capitalism German Political Poster 21
22 MARKET ECONOMIC SYSTEM Reaganomics _ Times Magazine Cover,
23 MIXED ECONOMIC SYSTEM TRADITIONAL ECONOMIC SYSTEM: A system shaped by customs & traditions that follow long-established patterns. COMMAND / PLANNED ECONOMIC SYSTEM: A system in which a centralized power, like the government, controls the economy. MARKET ECONOMIC SYSTEM: A system in which economic decisions are made by individuals or companies. MIXED ECONOMIC SYSTEM: A system that combines elements of the market and command / planned economies. 23
24 MIXED ECONOMIC SYSTEM Mixed Economy _ Critiques on Capitalism 24
25 MIXED ECONOMIC SYSTEM Mixed Economy _ Fall of the Berlin Wall,
26 ECONOMICS Why is Economics important to Architecture? 26
27 ECONOMICS & ARCHITECTURE There is an elephant in the room. It sits at every client meeting. It chooses every material, sets the length of every cantilever, and decides the height of every tower. It contextualizes every style and every urban form. It destines some projects to paper, yet lays the foundation for every built work... Students are introduced to architecture through forms, materials, masters, and styles, but rarely through economic imperatives... Does architecture reach its potential when untethered from economic realities, or must it harness them to contribute meaningfully to the built environment? - James Andrachuk Money: Perspecta 47 The Yale Architectural Journal 27
28 ECONOMICS Questions? 28
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