Comparisons and Influence Flashcards
How did the ancient Greeks view economic activities like trade?
Greek economic thought did not fully recognize the economic implications of trade, as their focus was on the roles of slaves and citizens.
What was the impact of Aristotle’s “Politics” on economic thought?
It introduced the idea that economics is a practical science, embedded in the broader context of political life and ethics.
How did the Hebrews view wealth and land ownership?
They believed land was the primary form of wealth, and its acquisition was regulated to prevent large landowners from exploiting the poor.
How did Plato view interest rates?
Plato initially prohibited interest, later permitting low rates for delayed payments.
What is the connection between Aristotle’s “Economics” and “Ethics”?
Aristotle’s economics was deeply connected to ethics, aiming to use wealth and resources for virtuous living.
How did Aristotle’s views on trade and money differ from Plato’s?
While Plato focused on limiting money and trade for ethical reasons, Aristotle saw trade as necessary for fulfilling human needs and achieving the good life.
How did Plato define the relationship between politics and economics?
Plato saw economics as essential to maintaining a just society, where resources are distributed in a way that supports the well-being of all citizens.
How did the Hebrews approach taxation?
Taxes were minimal; labor services like public works were used instead, with customs and toll taxes levied for specific purposes.
How did the Hebrews regulate property ownership?
Property, especially land, was highly valued, and inheritance laws ensured land stayed within families to prevent wealth inequality.
How did the Hebrews view debt cancellation?
In the seventh (Sabbatical) year, all debts were forgiven to promote economic equality and relieve financial burdens.
