So anyway, allow me to very briefly touch on some of the Macroeconomic wisdom my school has imparted upon me.
The basic goals of economics are as follows:
Equitable distribution of income
Balance of trade
To achieve these lofty economic goals, the prevaling wisdom is that you reach a point of economic nirvana called market equilibrium in which the circle of businesses, households, resource markets and product markets are each serving each other perfectly and thus fulfilled.
Unfortunately for us, as I discovered when I asked a few questions about our economy, we are far from attaining this state. In particular, having a monopoly of any type severely disturbs this equilibrium. Many of our most basic services like gas, electricity, and water come from a single source. 95% of media comes from 7 companies and a single company produces 90%+ of desktop software. These, among many other examples, have a deleterious effect on the economy.
At any rate, we're just getting started and both the professor and the book we use have a very traditional capitalistic approach to the subject. So I may be adjusting my view of capitalism in the near future. I will say however, it appears that capitalism needs a lot of government regulation to function correctly. I think perhaps the point I made previously about businesses cannibalizing each other(with a coincident harmful economic effect) until a monopoly emerges may not be so far the truth.