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How can the money you put into a bank get back into someone's hands as his or her income? The money you put into a newly formed business?
Assuming that this description has some truth, would you think that modern society should be described as one of tradition, command, or the market?
The CPI and PPI are both measures of the price level. How are they different, and when might you prefer one of these measures over the other?
What is usually meant by these terms? Do you think these ideas are compatible with a market system?
How do you account for this ancient churchly antipathy toward wealth? Is religion today still suspicious of moneymaking? Why?
In what ways is a serf a different economic creature from a modern farm worker? How is a slave different from an industrial worker?
What significance attaches to these different uses? What do they tell us about the structure of these societies?
Can this comparison also describe the behavior and attitude of the Egyptian peasant and Egyptian? What accounts for the difference between the two societies?
What is your feeling about the responsibility the market system bears for these problems in the United States?
Why are production and distribution social problems rather than engineering or physical problems?
In what way do your own plans for the future coincide with or depart from the occupations of your parents?
Economics is often called the science of scarcity. How can this label be applied to a society of considerable affluence such as our own?
What elements of tradition and command do you think are indispensable in a modern industrial society?
Assume that half of it were wiped out in some catastrophe. What would happen to U.S. productivity? To average U.S. well-being?
How does capital help human productivity? Discuss this in relation to the following kinds of labor: farm labor, office help, teaching government administration.
Can you see a relation between Smith's growth model and his market model? Would the growth model work if the forces of the market did not operate?
Describe what Smith meant by the invisible hand. What is the mechanism by which selfish interests are made compatible with-indeed?
Acquisitiveness is certainly as old as man. Can we speak of the origins of capitalism as being equally old?
Which ended slavery and displaced the southern semifeudal plantation system, could be considered part of the same transformation in America?
Why do you think this proves the validity of the Weber-Tawney thesis as to the importance of the Protestant Ethic in economic growth?
What activities of the merchant were so disruptive to feudal life? Are business activities today also the causes of social stress?
How much would your final decision hinge on what you anticipated for the future, compared with what you knew to be the situation today?
How many work for companies that provide goods or services for capital formation-that is, for investment purposes rather than for consumption?
What is the consumption level of the consumer in such a case? Provide an interpretation of this possibility.
In the 1980s both the United Kingdom and the United States had governments that aimed to cut expenditure. Why could any government now cut expenditure?