Study Guide Exam 2

Study Guide Exam 2 - C hapter 4 - NATURE OF CAPITAL ISM...

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Chapter 4 - NATURE OF CAPITALISM Explain what an ideology is. What purposes does an ideology serve? Ideology Purpose of Ideology: - Sense of Identity - Perceptual Screen: Enables you to filter out certain position, making a decision. Helps you screen out. - Justification of decision: Why we did SOMETHING. - Mobilize Human Effects - Distinguish between the two ideologies that George Lodge identified. Individualistic- Great deal emphasis is placed on RIGHTS of individuals (Example – U.S: Minimal government) Communitarian – Great deal of emphasis is placed on the SOCIETY, state (Example – China: Larger government) Explain the concept of the social contract. Who was Jean Jacques Rousseau? Social Contract: Implied agreement between government and people. Jean Jacques Rousseau Ideological perspectives on the role of the individual and the state or government have evolved in Western civilization. Explain the perspectives of the following: (a) Greco-Roman Era through the Middle Ages, (b) Thomas Hobbes, (c) John Locke. a) Greco-Roman Era through the Middle Ages: a. Divine Right of Kings i. They were appointed by gods and decision is made by god. b) Thomas Hobbes: a. Book on Leviathan i. Humans are guided by passion, two motivating factor desire of POWER and FEAR of death. ii. We form government out of FEAR. Since we would be powerless by our self. iii. Day we create social contract we surrender our rights. iv. We must obey the government, no right to rebel. c) John Locke a. Second Treatise of Government i. Original State of Nature: People were decent being; however there will
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always be a bad person. We created the government to protect us from THOSE bad people but also formed it to protect our rights. ii. Natural Life: Life of liberty, freedom … etc What was the historical importance of the ideological clash between Hobbes' and Locke's perspectives? What are the key features of capitalism? From the text, discuss the historical background of capitalism and how it has evolved over time. 1) Corporation has to be spate entity; Legal entity 2) Profit motive 3) Competition 4) Private Property 5) Just background institution; Law Who was Adam Smith and what famous book did he write detailing the basics of capitalism? “Wealth of Nation” – Invisible hand competition - Everybody pursuing their own interest, people are better off in the long run. Utilitarian theory to justify ethically the capitalistic system. Defend why capitalization is JUST, by using Utilitarian. Results in efficiency in production and use of resources What are the key features of capitalism? Free markets or capitalism can be argued as a just and ethical system through two ethical approaches: (a) Adam Smith's utilitarian approach and (b) Lockean natural rights approach. Detail the substance of each of these arguments defending capitalism Lockean natural rights: Personally did not defend capitalism, people after him used his theory to defend it - Capitalism is based on freedom - Emphasis on private property
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Study Guide Exam 2 - C hapter 4 - NATURE OF CAPITAL ISM...

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