Whatever Happened To Penny Candy Ch 15
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Questions and Answers

What is the premise of Natural Law as described?

  • Government laws are the highest laws.
  • Laws can be changed by any authority.
  • Rights are solely protection against market forces.
  • Individual rights are granted by a higher power. (correct)

    • Which aspect is NOT a basis of Natural Law?

  • Do not encroach on other persons or their property.
  • Do all you have agreed to do.
  • Ensure agreements are honored.
  • Encroach on others' property without consequence. (correct)

    • What are the expected outcomes where Natural Law is widely obeyed?

  • Reduction in individual freedoms.
  • Increased government regulations.
  • Development of economic opportunities. (correct)
  • Establishment of monopolies.

    • How does civil law differ from Natural Law based on the given content?

    <p>Civil law depends solely on government authority for rights.</p> Signup and view all the answers

    Which country is influenced by both civil law and Islamic law?

    <p>Kuwait</p> Signup and view all the answers

    According to the content, a judge operating under Natural Law is focused on what?

    <p>Discovering and applying a higher law.</p> Signup and view all the answers

    What is a characteristic of laws under the civil law system?

    <p>They can contradict Natural Law.</p> Signup and view all the answers

    Which country has a legal system described as chaotic and influenced by socialism?

    <p>Iraq</p> Signup and view all the answers

    Which of the following countries is based on Austro-Hungarian civil law?

    <p>Czech Republic</p> Signup and view all the answers

    Which country exhibits a mixture of English common law and native customary law?

    <p>Liberia</p> Signup and view all the answers

    Which country has a civil law system heavily influenced by natural law?

    <p>France</p> Signup and view all the answers

    Which country primarily follows a civil law system with little to no influence from Natural Law?

    <p>Cambodia</p> Signup and view all the answers

    What key principle distinguishes Natural Law from civil law according to the content?

    <p>Natural Law relies on ethical principles that limit government actions.</p> Signup and view all the answers

    What event marked a significant shift in the dominance of Natural Law according to the content?

    <p>The rise of socialism in the mid-1800s.</p> Signup and view all the answers

    How does Roman law typically affect government actions in economic systems?

    <p>It allows governments to inflate currencies and tax without limits.</p> Signup and view all the answers

    According to the content, what risk is associated with investing in countries with civil law systems?

    <p>Sudden termination of free market experiments.</p> Signup and view all the answers

    Which historical document is noted for marking the beginning of a shift towards Natural Law?

    <p>The Magna Carta.</p> Signup and view all the answers

    What was a significant consequence of adopting Natural Law by various nations?

    <p>Emergence of the largest middle classes and job opportunities.</p> Signup and view all the answers

    What misconception about lawmakers does the content address?

    <p>Lawmakers often act based on expediency over ethical considerations.</p> Signup and view all the answers

    What is mentioned as a common misconception taught to people regarding legal systems?

    <p>The government's law is always superior to Natural Law.</p> Signup and view all the answers

    Which countries are noted for having a strong influence of Natural Law and an economic freedom index score between 1.0 to 2.0?

    <p>New Zealand, Australia, Canada</p> Signup and view all the answers

    What was the economic freedom index score for Hong Kong prior to the Chinese takeover?

    <p>1.30</p> Signup and view all the answers

    Which statement best describes the legal system in countries with a heavy influence of Natural Law?

    <p>They are typically safer for tourism and investment.</p> Signup and view all the answers

    What legal system does Bahrain primarily employ?

    <p>A mixture of Islamic law and English common law</p> Signup and view all the answers

    Which country is cited as having the worst score in the Index of Economic Freedom?

    <p>North Korea</p> Signup and view all the answers

    Which of the following nations is listed as having civil law influenced by Natural Law?

    <p>Belgium</p> Signup and view all the answers

    Which country has a score of 1.90 in the Index of Economic Freedom?

    <p>All of the above</p> Signup and view all the answers

    What common characteristic do nations rated with economic freedom indexes above 3.0 share?

    <p>Lack of political stability</p> Signup and view all the answers

    Which of the following is a factor commonly associated with a country's economic prosperity?

    <p>A dedicated population to fundamental laws</p> Signup and view all the answers

    Which option correctly identifies a country with a high economic freedom index that is influenced by English common law?

    <p>Bahamas</p> Signup and view all the answers

    Study Notes

    Natural Law and Economic Prosperity

    • Two Types of Law: Natural Law (represented by common law) and civil/Roman law exist. Natural Law posits a Higher Law above government dictates, while civil law prioritizes the government's law.

    • Natural Law Principles: Natural Law derives from fundamental religious principles: fulfilling agreements (contract law) and respecting others' property (tort and some criminal law). Valid law must align with these principles.

    • Natural Law and Prosperity: Widespread adherence to Natural Law principles leads to liberty, free markets, and economic growth, with abundant investment and job opportunities.

    • Civil Law and its Implications: Civil law allows governments wide latitude, leading to potential periods of liberty, followed by tyranny. Governments can enact policies like free speech, or quickly enact repressive measures without constraint.

    • Historical Trends: Civil law predominated historically, but a period of Natural Law influence existed from the Magna Carta to the 20th century. This period correlated with significant economic prosperity in aligned countries.

    • America's Role: Post-1776, America championed Natural Law doctrines, significantly contributing to global economic prosperity among its allies.

    • Modern Economic Philosophy: Socialism gained prevalence in the mid-19th and early 20th centuries, effectively diminishing the influence of Natural Law.

    • Socialism's Economic Failure: Socialist economic models demonstrated failure by the 1990s, such as in the USSR. This shift led to experiments with free markets, but not necessarily with Natural Law based legal systems

    • The Persistence of Civil Law: Despite the rejection of socialist economics, civil law systems (often the product of Roman and other historical legal systems) remain dominant, prioritizing government expediency rather than ethical principles.

    • Risk in Investment: Countries with less Natural Law influence in their legal systems are at higher risk of suddenly reversing economic policies, impacting investment returns. Conversely, those strongly adhering to Natural Law present lower-risk investments.

    • Legal System's Impact on Economics: A country's legal system is the crucial factor affecting its economic prosperity.

    • The Importance of Due Diligence: Investors should carefully review the legal systems of foreign countries before investing to understand risk levels. Financial institutions often neglect this element; the legal system profoundly impacts a country's economic future.

    • Based on English Common Law (Natural Law principles): Many countries follow this historical system, but few perfectly uphold pure Natural Law today. Examples include New Zealand, the US, Britain, Australia, Canada, and (until the change) Hong Kong.

    • Civil Law (Roman Law Principles): Numerous countries base their law on this system inherited from Rome. These nations sometimes display significant Natural Law influence; however, this tends to be less common. Examples are Italy, France, and others.

    • Colonial and Islamic Laws: Many countries have a mixture of legal systems based on their colonial history or Islamic law. These countries can show elements of Natural Law or civil law features.

    Economic Freedom Index

    • Importance: The Index of Economic Freedom provides an assessment of economic freedom in various countries. A 1.0 rating implies substantial economic freedom, while higher scores indicate less economic freedom and potentially more risk for investing.

    • Top-Performing Countries: Examples are Hong Kong, Singapore, New Zealand, Bahrein, and Luxembourg, along with USA, Australia, Britain, Switzerland, and Canada.

    • Worst-Performing Countries: Examples are North Korea, Cuba, and many countries impacted by civil wars.

    • Index Access: The index is accessible on the Heritage Foundation website.

    • Economic Considerations: Investors should consider the level of economic freedom, legal system, and potential for sudden policy shifts when evaluating investment options.

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    Description

    Explore the concepts of Natural Law and civil law, focusing on their implications for economic prosperity. This quiz examines how adherence to Natural Law principles fosters liberty and free markets, contributing to economic growth. Understand the historical trends and the interplay between different legal systems.

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