philosophy real 1

The comparison between Newton's laws of motion and Adam Smith's economic theories illustrates that:

• Both systems require constant external intervention to function properly

• Economic systems are inherently more chaotic than physical systems

• Self-regulating systems can operate efficiently without constant intervention

• Physical laws have no relevance to economic principles

The concept of the "invisible hand" in Adam Smith's work suggests that:

• Government intervention is always necessary for economic prosperity

• Individual self-interest can inadvertently contribute to societal benefits

• Economic systems are purely random and unpredictable

• Altruism is the primary driver of economic growth

François Quesnay's "Tableau Économique" and its comparison to human physiology implies that:

• Economies are inherently unstable and require constant intervention

• Economic systems, like biological systems, may occasionally need corrective measures

• Medical knowledge is directly applicable to solving economic problems

• Economic flows are entirely predictable and controllable

The debate between laissez-faire economics and interventionist policies reflects:

• A universal agreement on the best approach to economic management

• The irrelevance of philosophical models in economic decision-making

• A fundamental disagreement about the nature of economic systems and human behavior

• The superiority of one economic model over all others

Ha-Joon Chang's argument for protectionism in developing economies is based on the idea that:

• Free trade is always detrimental to economic growth

• Infant industries require protection to become competitive globally

• Developed nations never used protectionist policies in their history

• Economic intervention is harmful in all circumstances

The criticism of protectionist policies by economists like William Easterly centers on the belief that:

• Government intervention always leads to economic prosperity

• Market forces are inherently destructive and must be controlled

• State intervention can lead to corruption and inefficient resource allocation

• Protectionism is the only way to achieve economic development

The analogy of guiding a child across the road in relation to economic protectionism suggests that:

• Economic policies should be entirely hands-off

• Temporary support and guidance can lead to long-term independence

• Permanent intervention is necessary for economic success

• Economic actors are incapable of making decisions without government control

The case of South Korea's economic development illustrates:

• The failure of protectionist policies in all circumstances

• The irrelevance of government planning in economic growth

• The potential benefits of strategic state intervention in developing key industries

• The superiority of following World Bank and IMF advice without question

The philosophical difference between Newton's universe and Quesnay's economic model suggests that:

• Economic systems are fundamentally different from physical systems

• All complex systems require constant external management

• Economic theories should ignore insights from other scientific disciplines

• There are divergent views on whether complex systems need intervention

The concept of "visible hands" in economics refers to:

• The inevitable failure of all economic interventions

• The superiority of centrally planned economies

• Active participation of economists and policymakers in guiding the economy

• The irrelevance of economic theory in practical policy-making