There are five questions. Please read the questions carefully and answer accordingly.
Special Notes:
*Never define any term by using the same words as the term itself.
*Do not give the empty words social and society in your answers. Give reasons that contain real information.
*When you are asked to give different reasons, do not make a subsequent reason a repeat of an earlier reason, simply re-written from the opposite perspective.
Questions-
1. Please answer this question in 3 separate part, A, B and C. This course teaches you to recognize the past origins of many of today’s economic beliefs. Ideas from socialism, including the works of Karl Marx, have had a resurgence among some US politicians in recent times,. Karl Marx’s name usually is not mentioned by US politicians, but the ideas are the basis of his/her modern belief. The course’s assigned works of Karl Marx have allowed you to read many of the ideas in the original. Separately answering as parts A, B, and C, identify and explain three different ideas being promoted by contemporary US politicians that have their origins in the economic beliefs of Karl Marx. Karl Marx usually is not named, but we have spotted the origins in his works. For each of the three Marxist ideas that you identify, also identify the modern US policy belief and proposal that has its origins in the works of Karl Marx.
2. Please answer this question in 3 separate part, A, B and C. Joseph Stiglitz gave six roles for government in economic development. Separately answering as parts A, B, and C, identify three of Stiglitz’ six roles for government in economic development. Along with each government role, what is the source of economic development?
Part D- Stiglitz also identified one common role in an economy that government should not perform. What is that an unwise role for government? What might be the harm if government took that role?
3.The three main categories of the role of government are: (i) Paternalistic. (ii) Mechanistic. And (iii) Organic.
Identify and briefly explain which role of government (from those three) fits with the following:
A. The beliefs of Vilfredo Pareto.
B. The New York State Constitution.
C. National governments that establish an official religion (e.g. The Church of England, Saudi Arabia’s Ministry for the Prevention of Vice and the Promotion of Virtue).
D. Suppression of religion in China, which punishes both Buddhists and Muslims with mandatory reeducation camps
E. The Berlin Wall.
4. Answer this question in 3 parts, A,B and C. Karl Marx, and other socialists (past and present) have stated what they believe are the good intentions behind their advocacy of socialism. Separately answering as parts A, B and C, identify and explain three different possibly good intentions that motivate socialist economic thought. Each of your three answers must include (i) the good intention, (ii) the reason why they believed there is gain and (iii) the cause of this gain specifically through socialism.
5. How might English Common Law increase long term economic growth? Explain the benefits, with a comparison with the laws in countries that do not have the English Common Law. What is the source of the gain to overall economic growth with the Common Law? Create a realistic example, as part of your answer.
