Lujan 1
Lujan, Beau
S00330716
5 February 2013
BUS-1050-047-A7
A7-“The Economic Revolution” p. 65, by Heilbroner Standard-Six + Questions 1-22 + 15
Vocabulary Words
ASSIGNMENT 7
Read "The Economic Revolution” beginning on page 65, by Robert L. Heilbroner
Answer the Standard-Six questions.
Answer the following questions:
1. Read the short entry Darwinism in the Glossary. Why does Heilbroner assume the reader
knows that man came down from the trees?
- I would say that he assumes that an intellectual person believes in evolution rather
than creation. That homosapiens are just another species in the animal kingdom.
That diversity and mutation is a good thing that allows species to survive.
2. Explain the sole reason man has succeeded in perpetuating himself at all. (Page 65, line 13)
- That since humans are a pack animal people of the group have been able to preserve
their society. Humans are able to put away their disagreements to make the society
survive.
3. Which is more conducive to survival of the species, self-centeredness or cooperation?
- It is more conducive for a species to be cooperative to survive. When people are
more willing to make decisions that will benefit the larger portions of the group the
more likely the entire group will survive. If decisions are made that will benefit
only a small portion it will be less likely for the group to survive.
4. Explain the conflict between self-centeredness (profit seeking) and cooperation (Social
Responsibility)
- Self-centered people will mainly only do things that will benefit that person
directly or would most likely not do it at all. Cooperation will but the societies
needs above their personal needs. The reading made it sound that like when
self-centered people no longer can relate to others they no longer care about others.
5. Discuss why modern society's existence hangs by a hair?
- That our society is complex now that we knowingly or unknowingly rely on other
for most things that we need. If a few or even just one of them fail our society can
be turned upside down.
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6. Explain each of the three methods humanity has developed to guard against social collapse.
- Tradition are ideals passed from one generation to another. Authoritarian rule have
set their societies by the edicts of one authority by enforcing penalties. The
astonishing game which is “market system” by allowing each individual to do what
they see fit if they follow certain guidelines.
7. Give examples of Tradition (or Custom)-based societies.
- The Amish are very traditional based societies in with they live and work the same
ways multiple generations before them lived and worked. Tribal societies are
tradition based societies.
8. List examples of societies using Authority (or Command)-based thinking to make
important decisions?
- North Korea, Iran, China are Authority based societies in which they dictate what
the people of the society have access to. What education people will be able to have
access to. They take away a lot of the choices people have away from them.
9. If the Market System is the third method, how does it work?
- It allows the individual to make their own decision on how it would best serve
them. The drive for gain is what enticed the people to work, with the idea that one
against another will make the necessary tasks to be done.
10. If custom and command no longer run the world, how will the dirty work of society get
done?
- The book does not explain clearly. It states only that once the market system had
gained acceptance. Once the book looked like that it is going to explain, the book
just writes it off in a one liner, “there is no puzzle to explain.”
11. How does the change from Custom and Command of the past to the Market Economies of
the present represent a Revolution?
- Again the term “Custom and Command” was not explained. It just appeared like I
was supposed to know what it means. If it refers to tradition which now they
decided to use custom and command instead of authoritarian that the introduction
of choice is what changed. People now have the choice of personal gain.
12. What was the view of personal gain in the interval from the fall of Rome to the end of
Middle Ages?
- The view of personal gain was frowned at due to religious beliefs. “No Christians
should be merchants.”
13. Comment on page 73, lines 35 through 40, beginning with “Hence the fact . . .”
- Since the market was controlled by customs and tradition they lacked a successful
market. They were not able to conceive the production. With the notion that
personal wealth was bad they lacked land, labor, and capital.
14. After the revolution, how did society start to view the profit motive?
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It depended on what were you landed on the hierarchy of the society. Lower you
were the lower they liked it. The higher up they were the better they liked it. People
started making decisions that mainly benefited a portion of the society.
15. Separately look up: Jakob Fugger of Augsburg, The Hanseatic League, The Medici, and
Jacques Coeur the Medieval Merchant Prince, and briefly explain how the Renaissance
meant the rise of personal gain.
- The ability to have personal choice gave birth to the ability to have personal wealth.
Which led to the overturning the control from religious organization to the people.
It allowed people to think differently.
16. Look up each of the republics of Venice, Florence, Genoa, and Lucca and then comment on
the relationship between business, trade and political freedom.
- Democratic societies that allowed personal growth and did not dictate to its people
what they had to do. Allowed freedom in its market place with guidelines in place
to allow trade.
17. Explain why the Market System must understand the relationship between land, labor and
capital.
- Market system must needs to have a symbiotic relations which with most things if it
were to succeed. With do in the reading I was not able to find anything that really
stood out and I could identify anything relating the 3 other than all 3 were miserable
ways of living.
18. Explain the meaning of enclosure. (Page 75, line 30 through page 76 line 23)
- That they are marking their land or territory from which was common land. It was
previously used by all but now it is private property.
19. How did the decay of religious spirit contribute to the rise of Capitalism, and the Market
System? (Page 78, line 25 onward)
- With the change to the humanistic view instead of the religious spirit started the
change. People stopped worrying of how their lives would be after death (regarding
heaven or hell) to making the lives happy now. Which it required work and wealth
to be necessary to obtain thing they wanted.
20. How did scientific curiosity become the most important factor contributing to the
Economic Revolution? (Page 79, line 35)
- Because it gave birth to devise that enable tasked which were very difficult to be
done now fairly easily. As well as changed the view of experimentation to a
friendlier eye.
21. Why would early Mercantilists say “We must keep the poor, poor”? (Page 82, line 29)
- Without having the poorer class they would have to pay higher wages for certain
jobs to be done. If we keep a class poor then they will have cheap labor. This will
allow higher profits for small group of people.
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22. Why do you suppose some would call Adam Smith the Antichrist, while others refer to him
as the father of The New World Order? (See page 82, line 38 through page 83, line 33)
- People saw him at the antichrist do to and to social injustice. On the other hand
people saw him as the father of the new world order because he gave the world a
different view of society.
15 Vocabulary Words
1.
2.
3.
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8.
Perpetuating - to make perpetual or cause to last indefinitely
Specter - a visible disembodied spirit
Métier - an area of activity in which one excels
Authoritarian - of, relating to, or favoring blind submission to authority
Salability - capable of being or fit to be sold : marketable
Impetus - a driving force : impulse (2) : incentive, stimulus
Plaint - protest, complaint
Paupers - a person destitute of means except such as are derived from charity; specifically :
one who receives aid from funds designated for the poor
9. Serfs - a member of a servile feudal class bound to the land and subject to the will of its
owner
10. Denizens - a person admitted to residence in a foreign country; especially : an alien
admitted to rights of citizenship
11. Submarginal - adjacent to a margin or a marginal part or structure
12. Proletarian - a member of the proletariat
13. Eulogizing - to speak or write in high praise of : extol
14. Amalgamation - the action or process of amalgamating : uniting
15. Tableau - a graphic description or representation : picture