Full Employment in Economic Policies
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Questions and Answers

What did the author discover about capitalism?

  • Capitalism is a system that follows natural laws.
  • Capitalism is a behavioral term and lacks a logic or theory. (correct)
  • There is a clear logic and theory behind capitalism.
  • Capitalism is a mixture of labor and capital input.

    • What did the author write a manuscript about?

  • The invention of the telescope.
  • The income distribution problem.
  • The history of the Industrial Revolution.
  • The fallacy of full employment. (correct)

    • What did Copernicus and Galileo discover?

  • A missing fact about the movement of heavenly bodies. (correct)
  • A new economic theory.
  • A new theory of the Industrial Revolution.
  • A new mathematical formula.

    • What is the missing fact that the author wants to talk about?

    <p>The production of goods and services by two things.</p> Signup and view all the answers

    What bothered the author during the Great Depression?

    <p>The empty passenger trains</p> Signup and view all the answers

    What did the author's mother do to support the family during the Great Depression?

    <p>She managed a little grocery store</p> Signup and view all the answers

    What did the author believe the economy had during the Great Depression?

    <p>The means to make the economy go</p> Signup and view all the answers

    Why did Louis put his manuscript in the closet?

    <p>He wanted to focus on practicing law</p> Signup and view all the answers

    Who introduced Louis to Mortimer Adler?

    <p>Clients of Mortimer Adler</p> Signup and view all the answers

    What did Mortimer Adler say about the theory of capitalism?

    <p>There is no theory of capitalism</p> Signup and view all the answers

    Why did Mortimer Adler jump off the ground when Louis mentioned privately owned capital?

    <p>He was surprised by the discovery</p> Signup and view all the answers

    What is the national economic policy of just about every nation on Earth?

    <p>Full employment</p> Signup and view all the answers

    What does the author mean by the 'right to life' in economics?

    <p>The right to earn income to support life</p> Signup and view all the answers

    What does the author suggest needs to happen as the production of goods and services changes?

    <p>Broaden the ownership of capital and tighten up the laws of property</p> Signup and view all the answers

    What percentage of corporate net income goes to taxes and boards of directors, according to the text?

    <p>Over 50 percent</p> Signup and view all the answers

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