Chapter 4 - Critics Of Business

Question 1

Agrarian society

Answer 1

A society with a largely agricultural economy. Started with the Greeks and Romans.

Question 2

Just price

Answer 2

A price giving a moderate profit one inspired by fairness, not greed.

Question 3

Market price

Answer 3

A price determined by the interaction of supply and demand.

Question 4

Usury

Answer 4

The landing of money for interest

Question 5

Protestant ethic

Answer 5

The belief that hard work and adherence to a set of virtues such as thrift, saving, and Sebright he would bring wealth and God’s approval.

Question 6

Utopia

Answer 6

Is socially engineered model community designed to correct faults in the world so it’s members can find happiness.

Question 7

Populist movement

Answer 7

It political reform movement arose among farmers in the late 1800s. Populous blamed social problems on industry and sought radical reforms such as government ownership of railroads.

Question 8

Progressive movement

Answer 8

A turn-of-the-century political movement that associated moderate social reform with progress. Progressivism was less radical than populism and had a wider appeal.

Question 9

Socialism

Answer 9

A doctrine of classless society in which property is collectively owned an income of labor is equally divided among members. It rejects the values of capitalism.

Question 10

Karl Marx and the communist manifesto

Answer 10

They believed communism was the basis for socialism and it wasn’t another process of class struggle underlying and explaining his theory of human society.

Question 11

Old progressive

Answer 11

Members of a broader political and social reform movement in the early years of the 20th century

Question 12

New progressive

Answer 12

Members of contemporary left-leaning groups who advocate more radical corporate reform than date or time progressives. New progressives seek to avoid being branded as liberals and try to take advantage of the favorable connotations in the word progressive.

Question 13

Beliefs of the new progressive

Answer 13

Corporations have too much power. Corporations have in ordinate legal rights. Corporations are inherently immoral.

Question 14

Non-governmental organization

Answer 14

A term for voluntary, nonprofit organization’s that are not affiliated with governments.

Question 15

Civil society

Answer 15

A zone of ideas discourse and action dominated by progressive values that transcends national Society’s and focuses on global issues.

Question 16

Keynesianism

Answer 16

And economic philosophy of active state intervention to stabilize the economy and stimulate employment.

Question 17

Chicago school

Answer 17

The name given to a group of economists and do the free market doctor and they taught. It is synonymous with neoliberalism.

Question 18

Group of eight

Answer 18

Formally an annual meeting or 8 L of large industrial democracies met to discuss economic issues, since replaced by an expanded group of the wealthiest nation is called the group of 20, or G 20