1. What is the distribution of wealth, in political economy? | Text |
2. How are production and distribution related to each other? | Text |
3. In political economy, taxation is not part of the process of distribution because
a. if it weren't coerced by the state, it wouldn't happen.
b. it has no effect on the production of wealth.
c. it is an attempt to redress market failure.
d. That is incorrect; taxation is part of distribution.
4. Why does J. S. Mill hold that the distribution of wealth is a matter of human law? | Text |
5. In a modern economy, most of what human beings consume
a. is produced by an exploitative capitalist system.
b. contributes to the processes of climate change.
c. comes from ongoing production.
d. depletes our overall stock of wealth.
6. How is future production affected by taking from producers what they produce, without their consent? When do the effects begin to be seen? | Text |
7. What is the basic distinction between the laws of production and the laws of distribution? | Text |
8. Why are moral laws a necessary part of the science of political economy? | Text |
9. Economics cannot be a "value-free science" because
a. goods and services have value.
b. government must reign in the abuses of capitalism.
c. distribution involves the ethical question of ownership.
d. limits placed on human freedom are inherently wrong.
e. That's incorrect: economics can and should be value-free.
10. According George, how do we know that natural rights of property exist? | Text |
11. What is the basic fallacy in Mill's justification of private property in land? | Text |
12. In terms of political economy, how is "made land" or "improved land" classified? | Text |
13. What is the margin of production, and what is its role in the distribution of wealth? | Review |
14. Private property in land
a. is an unfortunate necessity.
b. is a requirement for economic development.
c. has disadvantagess, but at least helps preserve the environment.
d. fosters inequality and inefficiency.
e. is inextricably tied up with money and banking.
Please read Part IV