Whatever Happened to Justice Introduction

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Questions and Answers

What is suggested as a method to reverse America's decline?

Limiting free speech to reduce dangerous ideas

Reviving dedication to common law principles (correct)

Increasing government intervention in markets

Establishing a stronger military presence

What does Abraham Lincoln imply regarding the source of danger to a nation?

It can be eliminated by fortifying borders.

It must be addressed through military strength.

It will arise from internal conflicts and actions. (correct)

It primarily originates from foreign powers.

How did a significant percentage of Americans feel about the speech rights of the Ku Klux Klan in 1990?

They wanted to promote their ideas publicly.

They believed it should be regulated by law.

They thought it should not be protected. (correct)

They strongly supported their freedom of speech.

What stance on differing opinions did Thomas Jefferson express?

Tolerance for differing opinions. Signup and view all the answers

What does Richard J. Maybury associate with the revival of free markets?

A return to basic common law principles. Signup and view all the answers

Which sentiment is reflected in Lincoln's view on national survival?

Self-destruction is possible if action is not taken. Signup and view all the answers

What general theme can be derived from the responses to dangerous ideas in society?

Certain ideas are deemed too dangerous to spread. Signup and view all the answers

What significant change regarding generational wealth is mentioned?

Children are likely to have lower standards of living than their parents. Signup and view all the answers

What is asserted about the impact of teaching economics on free market support?

It is essential, but insufficient on its own to revive support. Signup and view all the answers

Why is Adam Smith's WEALTH OF NATIONS relevant to the discussion on free markets?

It was published before the American Revolution and influenced its principles. Signup and view all the answers

According to the content, what happens when common legal principles are widely obeyed?

Free markets develop automatically. Signup and view all the answers

What does the example of Hong Kong illustrate?

Effective free market systems can exist without widespread economic knowledge. Signup and view all the answers

Why is the observation about ethical behavior emphasized in relation to free markets?

Liberty and abundance thrive with widespread ethical behavior. Signup and view all the answers

What was identified as a consequence of the drift away from free markets?

Diminished chances for children to have a good quality of life. Signup and view all the answers

What would be an important point about the understanding of economics in early America?

The understanding of economics was minimal, yet free markets existed. Signup and view all the answers

Study Notes

Generational Shift in American Prosperity

Older generations experienced prosperity and opportunity, while younger generations face diminished prospects.
Statistical evidence suggests that the current generation of Americans has a lower chance of achieving the same standard of living as their parents.
This decline in opportunity is correlated with a shift away from free markets.
The author believes that a return to free markets and common law principles is crucial for reversing this trend.

The Role of Economics and Common Law

Free market advocates believe that education in economics can restore support for free markets.
The author argues that economics education alone isn't sufficient to revive free markets.
The development of free markets in the past wasn't driven by economic understanding but by adherence to common law principles.
Common law principles are considered automatic mechanisms for fostering free markets, even without specific economic knowledge.
Ethical behavior and widespread obedience to common law principles are correlated with liberty and prosperity (e.g., Hong Kong).

American History and Free Markets

Adam Smith's Wealth of Nations was published in 1776, which points to the relatively nascent state of economics at the time of American Revolution.
America established itself as the most free and prosperous nation despite a lack of widespread economic understanding.
This underscores the importance of underlying structures (like common law) over specific economic knowledge in enabling free markets.

Lincoln's Warning on Internal Threats

Abraham Lincoln warned that national danger arises from internal threats, not external ones.
He emphasized the danger of self-destruction for a nation of free men.
He believed that internal threats are more dangerous to personal liberties.

Freedom of Speech and Public Opinion

A 1990 poll revealed that a substantial portion of Americans (35%) believed that groups like the Ku Klux Klan and the Communist Party should not be permitted freedom of speech.
Thomas Jefferson stated a belief in tolerating different opinions.

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Description

This quiz explores the differences in prosperity between older and younger generations in America. It examines the impacts of free markets and common law principles on economic opportunity. Participants will analyze the current economic landscape and the importance of reviving these foundational concepts for future generations.