After reading a newspaper article about yet another bank collapse in the United States,Bill's grandpa asserted,"It's no wonder-when the capital development of a country becomes a by-product of the activities of bookies and speculators,things are bound to fall apart." What term in the text would apply to grandpa's point of view?
A) stockbroker capitalism
B) mafia capitalism
C) casino capitalism
D) industrial capitalism

Question

Quizplus · Accepted Answer

Grandpa's point of view is criticizing the idea that the economy is driven by gambling-like activities such as bookmaking and speculation. This is often referred to as "casino capitalism." Option A (stockbroker capitalism) and D (industrial capitalism) do not capture the specific critique expressed by grandpa. Option B (mafia capitalism) may be tangentially related, but it does not correspond directly to the idea presented in the text. Therefore, C is the best answer.

After Reading a Newspaper Article About Yet Another Bank Collapse