HUM 400: Ethics Quiz #15 (Capitalism)

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Last Name *

First Name *

According to the book Capitalism and Ethics, the concept of private property is not just about real estate. *

1 point

True: it extends to factories, stores, stocks, bonds, patents and trademarks.

False: private property is solely concerned with real estate parcels and structures.

What are some of the rights inherent to the concept of private property? *

1 point

Profit

Control

Exclusion

Sale

Bequeathing

All of the above

None of the above

Those who subscribe to the Invisible Hand Theory often also believe: *

1 point

That because the free market promotes the common good, it IS ethical in principle.

That since self-interested actions promote the common good, acting in self-interest is ethical.

Both of the above

Neither of the above

Does the new globalized economy fit with The Invisible Hand Theory, as it was conceived by Adam Smith in 1776? *

1 point

Yes, because global capitalism benefits everyone.

No, because the invisible hand is meant to work within and only benefit a national economy.

What is the most frequent moral criticism lobbied against capitalism? *

1 point

It makes people jealous.

It makes socialism inevitable.

It creates economic inequalities.

Other:

Do monopolies hurt or help the free market? *

1 point

They help them, because they are the winners.

They hurt them, because then the market stops being free.

Other:

Does the free market include everyone? *

1 point

No, only the people who have the resources to bargain can play.

Yes, because everyone begins with an equal ability to participate.

Other:

Does capitalism support democracy? *

1 point

Yes, because it helped people escape feudalism and gave them control over their lives.

No, because the unequal distribution of wealth can buy votes and influence elections.

Both of the above

Neither of the above.

Other:

Are there any "pure capitalism"-practicing countries in the world? *

1 point

No, every capitalist country in the world has some degree of government regulation.

Yes, the United States is an example of pure capitalism.

What is the root of the conflict between capitalism and democracy, according to Capitalism & Democracy? *

1 point

They are paradoxical twins, like the yin and the yang in Taoist philosophy.

The economic inequality inherent in capitalism will always undermine democracy.

People are naturally selfish, but also naturally civic-minded.

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