Podcast
Questions and Answers
What does Louis Kelso's binary economics system divide the factors of production into?
What does Louis Kelso's binary economics system divide the factors of production into?
- Human and non-human (correct)
- Capital and entrepreneurship
- Marketable outputs and incomes
- Land and labor
What is the central tenet of binary economics according to the text?
What is the central tenet of binary economics according to the text?
- Correcting structural economic defects
- Analyzing global poverty and environmental destruction
- Linking marketable outputs to incomes (correct)
- Recognizing land and entrepreneurship as distinct productive categories
Who is one of the few writers who accurately describes Louis Kelso's paradigm according to the text?
Who is one of the few writers who accurately describes Louis Kelso's paradigm according to the text?
- Norman G. Kurland
- William Greider (correct)
- One of the critics
- None of the above
What is the fundamental flaw in today's dominant economic paradigms?
What is the fundamental flaw in today's dominant economic paradigms?
What are some of the negative consequences of the blind spots in traditional economic theories according to the text?
What are some of the negative consequences of the blind spots in traditional economic theories according to the text?
What does the text suggest is needed if we believe in democracy and empowering every person?
What does the text suggest is needed if we believe in democracy and empowering every person?
Distributive justice is based on which principle?
Distributive justice is based on which principle?
Social justice places a personal responsibility on every member of a group or institution to do what?
Social justice places a personal responsibility on every member of a group or institution to do what?
What do binary economists believe is the real problem in the system controlling access to money, credit, and capital ownership?
What do binary economists believe is the real problem in the system controlling access to money, credit, and capital ownership?
What do most people expect to legitimate their incomes through under current economic policies?
What do most people expect to legitimate their incomes through under current economic policies?
According to binary economics, how can a person be entitled to a commensurate distribution?
According to binary economics, how can a person be entitled to a commensurate distribution?
What does binary economics attribute most of the increases in the labor-capital mix to?
What does binary economics attribute most of the increases in the labor-capital mix to?
What are the three concepts that set binary economics apart from preceding economic approaches?
What are the three concepts that set binary economics apart from preceding economic approaches?
What are the four pillars of a truly free and just global marketplace according to binary economics?
What are the four pillars of a truly free and just global marketplace according to binary economics?
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