Gov/Econ CFA #3

What does Smith mean when he says “the natural desire of every individual is to improve his own condition”? Explain.

Why does Adam Smith believe the butcher does his job (EXPLAIN! Don’t just say “self-interest!”)?

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Summarize

Do you agree with Adam Smith that people do their jobs only out of self-interest? Are there any jobs that people might do for a different reason? Explain.

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Interpret

According to Adam Smith, why is competition a good thing? Explain.

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Analyze

Please read the second paragraph. What is the main point of this paragraph? Put it in your own words

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Summarize

Do you think it is a good thing that the “industry of mankind” is not being used to supply our basic needs, but to supply “the luxuries of life?” Why or why not?

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Interpret

How does Marx seem to view the idea of self-interest in the first paragraph (ie. a good or bad thing)? How is this similar or different to Adam Smith?

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Interpret

What are some of the words, phrases, metaphors, descriptions, etc Marx uses in the second and third paragraphs to explain the current condition of the proletarians (working class). Does the working class seem to be valued by society? Explain.

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Close Reading

Re-read the last paragraph. What does Marx believe needs to happen to create a more equal society? Considering the context (ie. what was going on at this point in history), do you think Marx was justified in believing this? Explain

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Analyze

Please re-read the fourth paragraph. How does Marx justify his idea that all private property/possessions should be eliminated? Is this still applicable in today's society? Explain.

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