48. Who says: "his vilest and most hateful qualities are the most necessary accomplishments to fit him for the largest, and according to the world, the happiest and most flourishing societies." Attribute this to:
Mandeville
49. Who says: "they want to have and take everything...and even though many things were of little value...it was ordered that nothing should be received from them without giving them something in payment"?
Columbus
50. Universal equality, universal opportunity, and economic freedom - whose expressed doctrinal beliefs are these?
Confucius
51. Who says: "for that there is far more profit for him personally in injustice than in justice is what every man believes."?
Plato
52. Who says: "the forces and the resistance are nature's, but the mind acts in bringing things from where they abound to where they are wanted.
Emerson
53. Who says: "spend after your genius and by systems. Nature goes by rule, not by sallies and salutations."?
Emerson
54. Confucian laissez-faire is similar to the laissez-faire of which thinker, who said that "the basis of political economy is non-interference" because wealth brings with its own check and balances where "property rushes from the idle and imbecile to the
Emerson
55. Describe the Confucian "circle.
Make more-borrow money- it pumps the entire circle: high production= more labor/employment =more money supply/income= greater demand= higher consumption=higher production= repeat circle
56. Which ancient philosopher says: "Men seek after a better notion of wealth and of the art of making money than the mere acquisition of coin, and they are right.
Aristotle
57. Who says: "The real moral objection [to money] is to relaxation in the security of possession, the enjoyment of wealth with the consequences of idleness and the temptations of the flesh, above all of distraction from the pursuit of a righteous life
Weber
58. According to Tawney, how did the Church behave regarding the charging of interest?
Encouraged it. They encouraged you to save money to gain interest on it by loaning it to the bank, the bank gives loans to other people, then gives interest to themselves and to the people who originally saved.
59. Describe the Tawney "cosmology.
Man is the center of the universe.- Solipsistic
60. During the advance of commercialism in the medieval period, according to Tawney, what did Church choose to do as a response to those who would pursue money in business
Tell them it was okay to pursue the money, but must follow church rules and regulations
61. What was John Calvin's attitude toward wealth?
He sees no problem with revrens and priests making money. Has belief in divine election (god decided before this lie whether you're going to heaven or hell).
62. Who says: "money printed your Bible, money builds your churches, money sends your missionaries, and money pays your preachers..."?
Conwell
63. What is Marxian "exchange value"?
Price is decided by the market, ie- water is more expensive in the desert.
64. Who says: "[Man] has what is peculiar to himself, an inclination to the life of the intellect and of society - 'to know the truth about God and to live in communities.' These activities, which form his life according to the law of nature may be regard
Tawney
65. Describe the Protestant objection to money
. You can have money, but they don't want to you use it to buy luxuries because it will make you idol, and when you're idol you're not doing the work of god.
66. According to Emerson, how does poverty affect us?
When you're poor, it makes you do anything to get the money- you're immoral and Deceiving.
67. What does Weber say about a change of calling�is it under any circumstances?
Okay if "it is useful for the common good or one's own, and not injurious to anyone, and if it does not lead to unfaithfulness in one of the callings.
A. A useful calling is measured in terms of 1) importance of goods produced in it for the community 2) p
68. What is that one would not expect to see in the economics of a feudal order?
Class climbing. You stay where you're originally classed.
69. Through what the Medieval Church expected to lead people from a barbaric materialism to higher religious principles?
Business and church teachings: in the intermediate.
70. What was the most probable cause for the Church's failure to direct commerce toward a greater emphasis on salvation
They were to caught up in their own business - everything was for sale, indulgencies, monks let money at high interest rates
71. What economic system was the preference of the Medieval Church?
Communism
72. To whom is credited the FIRST argument for the idea of an "end of history"?
Hagel
73. Who says: "It is simply that everyone respectively employs his own ability, and exhausts his own energy to get what he wants. Therefore, when the commodity is cheap, it calls for the demand, and raises its price; and when it is dear, it calls forth it
Confucius
74. Who says: "No regulation of commerce can increase the quantity of industry in any society beyond what its capital can maintain.
Smith
75. Carnegie points out that capitalism, despite its benefits, presents some serious problems. He calls them the prices we have to pay. What are they
the employer cutting costs, rigid casts form, capital and labor don't know each other
77. According to Tawney, what is the reason we have acquisitive societies and do not have functional societies?
Capitalism. We are not motivated by obligation but by the desire for wealth.
78. (Fill in the blanks) Friedman claims that corporate executives work singularly for ��-________ to make as much money as possible for them in accordance with the law and _______:
stockholders" and "ethical customs
79. What does Rand's Objectivist calculus includes?
We are all metaphysical in some way, reality exists independnt of us, knowledge must be testable, and we are all self-interested organisms.
80. What did worldly Protestant asceticism mean according to Weber?
We are not allowed to have spontaneous enjoyment, deny yourself of luxuries.
81. Carnegie said most able "men" were the ones who would earn a lot of money and this justified their philanthropic leadership. He based this justification on which belief?
Social darwinism
82. Is Emerson a laissez-faire, socialist, or Fabian thinker---justify
Laissez faire because there shouldn't be rules enacted in order to limit business productivity, do not legislate, make eual lays, open the doors of opportunity. He is a capitalist.
84. What would Carnegie accept as good uses to which surplus wealth can be directed?
Philanthropic uses that befit the public as a whole, ie libraries, concerts halls, schools, parks
85. What, in Friedman's belief, is the idea of corporate social responsibility
? It is based on the discresion of the stockholders. They can devide. The business itself has no responsibility (ceo, employees, etc.) without the consent of the stockholders.
86. (Fill in the blanks) Tawney argues that acquisitive societies advance but do not improve because they value _________ _________ more than the obligation to perform ___________ ___________.
economic rights", " economic functions
88. Describe the thinking of Rockefeller, Jr.:
the corporations responsibility to serve the public ie if there is a recession, company should use profits to keep employees, thinks we have to change capitalism itself to improve everything.
47. If one takes his allegory seriously, what is Mandeville's belief about commercial society?
vice and virtue need to be married
46. What actions suggest that Columbus practiced a kind of business imperialism
Killing the Caniba, showing and demonstrating their weapons on the shore to the Indians. He took advantage of the exchange value- the exchange was of less value than what the Indians were giving him- gold. Declaring the Carribean as Spain.
45. Columbus expresses no remorse about his business project. It is likely that he can justify it by thinking that Spain is doing what "good" thing?
Baptize them, and make them Christians.
44. The business mindset of Columbus causes him to say of the Indians that "they are fit to be ordered about and made to work, plant, and do everything else." Tied to his intent to make Christians out of all of them, how did he view Indians?
As the labor aspect of Capitalism.
43. Who says: "he is thoroughly related; and is tempted out by this appetites and fancies to the conquest of this and that piece of nature, until he finds his well-being in the use of his planet, and of more planets than his own.
Emerson
42. Who says: "yet not the less, in my case, did I think it worth the while to weave them and instead of studying how to make it worth men's while to buy baskets, I studied rather how to avoid the necessity of selling them
Thoreau
41. Who says: "of everything which we possess there are two uses, both belonging to the thing as such, but not in the same manner, for one is proper, and the other improper...
Aristotle
40. According to Thoreau, what do we need possess for ourselves in order to entertain the true problems of life
Food, shelter, clothing, fuel- allow us to entertain problems with freedom and prospect of success.
39. Who says that empathy tempers self-interest in commerce
Smith
38. (Fill in the blanks) Acquisitive societies can be described as ------ cosmologies which are ---- centered.
solipsistic", "self
37. What are the assumptions of the Catholic Church during the Medieval period?
Economic interests are subordinate/second to salvation- all business will operate according to church practices and teachings. 2. Material wealth is acceptable to the degree that it allows you to run your household- security, necessities. Ultimately use t
36. Marx writes that "in general, the greater the productiveness of labour, the less is the labor time required of an article." What does he mean?
The faster you do the production, the less you'll charge (if only charging by labor cost) so the less you charge. "less it the amount of labor crystallized in that article, and the less is its value." Low labor=low price, high labor=high price.
35. What limits on commerce best describes the warnings of the medieval Church?
35. What limits on commerce best describes the warnings of the medieval Church? 1. Make no more money than necessary to run your household 2. Just price- you may not make more money than the cost of material and labor 3. You can have your own private prop
34. (Fill in the blanks) The late Middle Ages Church fathers concluded that material interests were co-equal to spiritual interest but that this was nothing to fear because "the way of religion is to lead the things which are ---- to the things which are
lower", "higher", "intermediate
33. Describe Emerson's "animation" argument
You must animate the things you buy- using them for a purpose to improve yourself. Ie- computer to learn, not play solitaire
Fill in the blanks) According to Rockefeller Jr. the soundest industrial policy has in mind the welfare of ---- as well as the making of ----:
labor, money
31. (Fill in the blanks) Conwell says that god wants us to be rich and that those Christians who see business and wealth-getting as antithetical to biblical doctrine simply misunderstand the phrase ------------, -------------- which he says does not mean
the love of money", "cupiditas est radix moloram", idolization/love
30. How does Emerson view self-advancement in contrast to self-improvement?
You have to be rich to become a better person. Wealth is infantile until you animate it to create a better order (improvement). Use the things God gave you to create more. Emerson is a capitalist and laizze farre conservatist.
29. What, according to Marx, is the one kind of value that can serve as the basis of commodity pricing in a communist state?
labor
28. (Fill in the blank) Mannheim says that -------- was the utopic "antithesis" of the founding fathers of the United States.
freedom to pursue infinite wealth
26. What, says Plato, happens to a society that traffics in wants?
It will " swell out its bulk and fill it up with a multitude of things that exceed the requirements of necessity in that state." And then keep pushing and pushing until it goes to war. (you swell so bad with wants you have to go to war to get more)
25. What, in Plato's belief, will we do when there are no restrictions in business?
Be deceivers and unjust, go to war. Do whatever it takes to get what you want.
24. What needs does Mandeville's hive doctrine introduce for economic health of nations?
Marriage between virtue and vice
23. Emerson's "reinvestment" advice is designed to increase what?
Spiritualization of your business.
21. What does Plato think is necessary to a healthy city?
For it to be based upon: needs, interdependence, self interest, division of labor, international trade, marketing, money as primary means of exchange.
20. According to Thoreau, what is important for your job to do, irrespective of the business in which you work?
Help you attain spiritualization and provide for your purpose, not sway you away from it.
19. Which professions does Mandeville cite as corrupt but helpful to the hive?
lawyers, physicians, Government/kings, military/soldier, Philosophers, church priests
How do land, labor, and capital factor in to the Columbus mission?
? With him as the entrepreneur, it creates the 4 necessities of capitalism: entrepreur-columbus, capital- ships, oars, men, goods to trade, land- hispanola, labor- Indians)
17. What should we cultivate in Thoreau's belief?
We should become conscious of needs and wants in every part of our lives. Survive with benefits just to the extent that it fulfills the 4 basic needs (food, shelter, clothing, fuel). Then use the rest of the time to fulfill your desire- for him, to study.
16. How does Emerson describe business and the people who succeed at it?
Nature is an outgrowth of God, business is an outgrowth of nature, therefore, business is an outgrowth of God. Comparative advantage: nations first have it, china: labor us: technology. People have it as well ie brains, common sense, athletes.
15. What does Thoreau's "serfs of the soil" argument question?
1. How someone got forced into the lowest class of cultivators that they must work for every day of their lives. (50+ hours a week.) How they must work every day of their lives and in the end, really have not gotten anything or anywhere doing it.
14. Why did Thoreau go to the woods
To transact some private business with the fewest obstacles." To live deliberately (consciously and purposefully). To study.
13. Why does Plato's Republic promote division of labor�what can it do for people?
The result is "that more things are produced, and better and more easily when one man performs one task according to his nature, at the right moment, and at leisure from other occupations." Social division of labor: Each person or company specializes in o
11. What does Thoreau mean when he uses the term "serfs of the soil"?
the "lower" or "laboring" class. They are at the bottom, but make up (98%) of the people, and the top 2% benefit from them. Why should men work 50-60 acres when they surely can't consume that much. You are predetermined.
10. What does Aristotle's "shoe" analogy suggest for needs to be real?
Need is natural and proper. It is natural or proper to have the shoe because it is a fulfilling its intended purpose/need, but it is unnatural to buy a second pair because that need has been fulfilled. Second pair: improper and unnatural.
9. Which of the means of moneymaking does Aristotle disfavor the most?
Usury- unnatural. Money that makes money on itself is doing nothing for society.
8. What does Smith say about regulating imports through monopolies and tariffs?
They are bad- don't promote growth, because they don't let competition in. More companies= more advertising, increase quality, decrease price, increase employment, increase wealth, increase production, increase consumption.
7. How does Emerson think business can be spiritualized?
In the production. As revenue ascents, so does the spirit ie good customer service, etc. You reinvest in your company, make more jobs,
6. What are all the benefits the Crown and Church will get from the Columbus mission?
A place for cheap labor, resources, great exchange rate for materials= them using the cheaply acquired gold at home, more land when they conquer them, international support, church will have more followers,.
5. How is the Columbus mission a joint venture and a market development project?
? Spain: The church and state are stockholders providing the capital, Joint venture with the king of Indians- they get protection and he gets gold. Positive trade relationship... made market penetration with the new world seeing products they've never see
4. What does Thoreau believe about consumption, especially of luxuries?
That those luxuries are "hindrances to the elevation of mankind", and hold you back. (they consume your life and ride you like a train)
3. Who says: "the mass of men lead lives of quiet desperation.
Thoreau
2. What are Emerson's measures for business
5 measures: Finance (borrow money to make business work), accounting (have a system to know what has happened), marketing (once you realize a loss move on- marketing will teach you can't manage nature), management (hire people you know with whom you can w
1. What is, according to Emerson, the first thing each person must do for himself and to make society more unified and secure
Work- "know how to earn a blameless livelihood" "Every man is a consumer and out to be a producer" Add to the common wealth