Guiding Questions

Guiding Questions

1. Define the following: social Darwinism, forces of production, and productivity crisis. 
2. “Equality, justice, and respect for rights are characteristics of the American economic system.” Would you agree or disagree with this statement. Why?
3. Discuss the difference between market systems and command systems. 
4. “Locke’s views on property, Smith’s views on free markets, and Marx’s views on capitalism obviously do not hold true when applied to the organizational structure and the operations of modern corporations.” Comment on this statement.
5. “From an ethical point of view, big business is always bad business.” Discuss the pros and cons of this statement.
6. Should an American company operating in a foreign country in which collusive price-fixing is not illegal obey the U.S. laws against collusion. Explain your answer.