Final

Question 0

The Entitlement Theory of Economic Justice

Answer 0

Established by Nozick

The idea of free market exchanges is the only way to respect people as equals within the economy.

Question 1

Libertarianism

Answer 1

Liberty is the principal objective.
Seek to maximize the autonomy and freedom of choice for individuals.
Supported by John Locke and Thomas Paine.

Question 2

The Wilt Chamberlain Example

Answer 2

There is no patterned theory of just distribution. Any free market exchanges between people must be just but will alter the predicted pattern.

Question 3

Command Economic System

Answer 3

Economic decisions are made by the government. A communist style economic system.

Question 4

Free Market System

Answer 4

Prices of goods and services are decided between the consumer and the seller. The basic goal is to achieve economic equilibrium without the influence of the government.

Question 5

Property Right

Answer 5

Can be viewed as an attribute of an economic good, resources can be used and owned by an individual, association and government

Question 6

Base and Superstructure

Answer 6

Marxist Theory.
Base: comprehends the forces and relations of production. Example would be employer-employee work conditions, the technical labour and property relations.
Superstructure: the overall role of society. The base generally influences the superstructure but it can be the other way around.

Question 7

Bourgeoisie

Answer 7

The healthy middle class established in the Middle Ages. A range of socio economic classes. Marxist believe this is is the group that owns the means of production.

Question 8

Proletariat

Answer 8

The wage earning class, their only significance is the possession of the labour power. Marxist believe they are the basic social class.

Question 9

Labor Theory of Value

Answer 9

The economic value of a good or service is determined by the total amount of labor required to produce it. Applies to Marxism economics.

Question 10

Alienation

Answer 10

The state or experience of being isolated from a group or an activity to which one should belong or in which one should be involved. Karl Marx believed alienation occurred because of a society broken up into social classes.

Question 11

Democracy

Answer 11

A form of government where all eligible citizens may participate equally.

Question 12

Oppression

Answer 12

Prolonged cruel or unjust treatment or control

Question 13

Feminism

Answer 13

The advocacy of women’s rights on the grounds of political, social and economic equality to men

Question 14

The Private/Public Distinction

Answer 14

Liberal view believes the government may regulate some public matters but has to keep their noses out of the private matters that may go on within a home. The radical view is that all matters at some point in time must be public to achieve equality for women.

Question 15

The Maternal Model for Moral Relations

Answer 15

In the eyes of society mothers who are at home do work but it is in a way that is not socially accepted as a job. Reproducing and raising a child is work and important to society in a liberal view. Feminist find this ridiculous.

Question 16

Racism

Answer 16

Belief that all members of each race posses characteristics or abilities to that specific race, especially so as to distinguish it as inferior or superior to another race or races.

Question 17

Strong Preferential Treatment

Answer 17

Deals with affirmative action and the fact that decisions are made solely on demographic status. Some believe it is discrimination in reverse.

Question 18

Weak Preferential Treatment

Answer 18

Decisions are based on merit and demographic status with the relative weighting left unspecified. Decisions are in favor of the more qualified applicant which is usually the minority.

Question 19

“Color-blind”‘Policies

Answer 19

Race doesn’t matter, act under a veil of ignorance and allow affirmative action to prosper.