Podcast
Questions and Answers
According to Kelso's principles of economic justice, what is the input principle?
According to Kelso's principles of economic justice, what is the input principle?
- Participation (correct)
- Social Justice
- Charity
- Distribution
According to Kelso, how should income be distributed in a market system?
According to Kelso, how should income be distributed in a market system?
- Based on the value of one's capital
- Based on the value of one's labor
- Based on the value of charity
- Based on the value of both labor and capital (correct)
What is the purpose of the distributive principle for the virtue of charity?
What is the purpose of the distributive principle for the virtue of charity?
- To determine just prices, wages, and profits
- To motivate people to produce enough wealth for themselves
- To ensure social justice
- To complement the distributive principle for the virtue of justice (correct)
What accounts for almost 90% of productivity growth in the modern world?
What accounts for almost 90% of productivity growth in the modern world?
Why is private property essential to justice?
Why is private property essential to justice?
What does property in everyday life represent?
What does property in everyday life represent?
What is of special significance in a capitalistic economy?
What is of special significance in a capitalistic economy?
Which of the following is NOT one of the three components of production?
Which of the following is NOT one of the three components of production?
What is the role of labor and capital in the production of goods and services?
What is the role of labor and capital in the production of goods and services?
Which of the following is included in private property in capital?
Which of the following is included in private property in capital?
What is the relationship of the worker to the value he creates through his work?
What is the relationship of the worker to the value he creates through his work?
What is the highest purpose for which any just government is formed?
What is the highest purpose for which any just government is formed?
What is the goal of reducing the need for income redistribution through confiscatory income taxes and social welfare payments?
What is the goal of reducing the need for income redistribution through confiscatory income taxes and social welfare payments?
What is the most rational alternative to monopoly?
What is the most rational alternative to monopoly?
What is the connection between widespread distribution of property and political democracy?
What is the connection between widespread distribution of property and political democracy?
What are the Four Pillars of a Just Market Economy?
What are the Four Pillars of a Just Market Economy?
What is the principle referred to as the 'Principle of Limitation'?
What is the principle referred to as the 'Principle of Limitation'?
What did Kelso propose as a solution to the limited ownership of productive assets?
What did Kelso propose as a solution to the limited ownership of productive assets?
What is the goal of limiting the economic power of the State?
What is the goal of limiting the economic power of the State?
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