0
The excerpt below is from Adam Smith and The Wealth of Nations. Which of his economic philosophies can be seen in modern free enterprise systems?
Wiki User
∙ 7y ago
Capitalist countries rely on competition between businesses to set fair prices for goods.
Gabriella Corona
Add your answer:
Earn +20 pts
The meaning estoppel in real estate?
Here is an excerpt from a previous Answers.com topic regarding estoppel. I take no credit for this definition, but believe it will accurately address your inquiry.A doctrine of law that stops one from later denying facts which that person once acknowledged were true and others accepted on Good Faith.Example: Abel signs a certificate acknowledging that he owes $10,000 on a Mortgage as of a certain date. Later he contends that he owed only $5,000. Abel is prevented from asserting this new contention under estoppel.
Did the New Deal save capitalism?
The New Deal stifled Capitalism and prevented free market recovery from happening naturally. This stifling of the free market did not begin with Roosevelt however, Herbert Hoover began the crusade of government intervention into the economy. The policies of Hoover and Roosevelt and their regulations had little to no positive effect on the economy. In fact economic graphs from the era show that the economy was absolutely stifled during the time of government intervention. Contrary to wide held opinions Socialism provided the malaise that allowed Hitler to instill Fascism in the 1930's and 40's, where humans were treated as a commodity to be used to gain advantage for the state. Nazi Germany was never a Capitalist system. It is apparent that Statist policies and over regulation tend to hamper free enterprise. Democrat President Harry S. Trueman stated the differences between Democracy and government based welfare states in his inaugural address in 1949: Harry S. Truman, Inaugural Speech (excerpt), 1949 " The American people desire, and are determined to work for, a world in which all nations and all peoples are free to govern themselves as they see fit, and to achieve a decent and satisfying life. Above all else, our people desire, and are determined to work for, peace on earth-a just and lasting peace-based on genuine agreement freely arrived at by equals. 9 In the pursuit of these aims, the United States and other like-minded nations find themselves directly opposed by a regime with contrary aims and a totally different concept of life. 10 That regime adheres to a false philosophy which purports to offer freedom, security, and greater opportunity to mankind. Misled by this philosophy, many peoples have sacrificed their liberties only to learn to their sorrow that deceit and mockery, poverty and tyranny, are their reward. 11 That false philosophy is communism. 12 Communism is based on the belief that man is so weak and inadequate that he is unable to govern himself, and therefore requires the rule of strong masters. 13 Democracy is based on the conviction that man has the moral and intellectual capacity, as well as the inalienable right, to govern himself with reason and justice. 14 Communism subjects the individual to arrest without lawful cause, punishment without trial, and forced labor as the chattel of the state. It decrees what information he shall receive, what art he shall produce, what leaders he shall follow, and what thoughts he shall think. 15 Democracy maintains that government is established for the benefit of the individual, and is charged with the responsibility of protecting the rights of the individual and his freedom in the exercise of his abilities. 16 Communism maintains that social wrongs can be corrected only by violence. 17 Democracy has proved that social justice can be achieved through peaceful change. 18 Communism holds that the world is so deeply divided into opposing classes that war is inevitable. 19 Democracy holds that free nations can settle differences justly and maintain lasting peace. 20 These differences between communism and democracy do not concern the United States alone. People everywhere are coming to realize that what is involved is material well-being, human dignity, and the right to believe in and worship God. 21 I state these differences, not to draw issues of belief as such, but because the actions resulting from the Communist philosophy are a threat to the efforts of free nations to bring about world recovery and lasting peace."
Subway franchise business plan example?
An excerpt of their business plan is: "Customers want fast food to be just that, fast. Potential Subway customers will choose McDonalds, Burger King, or Wendy's because the restaurants make known the fact that they seek to deliver the customer's order in the least amount of time possible. Some of these customers may be daunted from choosing Subway because they expect a longer weight time for a custom sandwich. Because they must instruct workers how to make their sandwiches almost from scratch, potential customers may also be concerned that Subway employees may make errors when constructing their orders." You can directly obtain this information from Subway together with their Franchise information by visiting the Related Links below, and filling out the short form.
Q3 Explain briefly the technique of marginal costing In what ways do you consider this?
The marginal cost of an additional unit of output is the cost of the additional inputs needed to produce that output. More formally, the marginal cost is the derivative of total production costs with respect to the level of output. Marginal cost and average cost can differ greatly. For example, suppose it costs $1000 to produce 100 units and $1020 to produce 101 units. The average cost per unit is $10, but the marginal cost of the 101st unit is $20 The Econ Model applications Perfect Competition and Monopoly emphasize the roles of average cost and marginal cost curves. The short movie Derive a Supply Curve (40 seconds) shows an excerpt from the Perfect Competition presentation that derives a supply curve from profit maximizing behavior and a marginal cost curve.
What is Dow Jones index based upon?
This was a good question as it made me learn the answer myself! Here's the link from wikipedia: http://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average And here's an excerpt explaining the Index. The Dow Jones Industrial Average (NYSE: DJI, also called the DJIA, Dow 30, or informally the Dow industrials, the Dow Jones or The Dow) is one of several stock market indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow. Dow compiled the index as a way to gauge the performance of the industrial component of America's stock markets. It is the oldest continuing U.S. market index, aside from the Dow Jones Transportation Average, which Dow also created. Today, the average consists of 30 of the largest and most widely held public companies in the United States. The "industrial" portion of the name is largely historical—many of the 30 modern components have little to do with heavy industry. To compensate for the effects of stock splits and other adjustments, it is currently a scaled average, not the actual average of the prices of its component stocks—the sum of the component prices is divided by a divisor, which changes over time, to generate the value of the index.
Which of the following historical conditions is the focus of the excerpt?
economic environment
According to the excerpt below the league of nations was important of which reason?
preventing war-apex
Which two ideas about colonialism are most clearly expressed in the following excerpt?
The actions of the colonist are foolish and ineffective
What part of speech is excerpt?
Excerpt is a noun.
What is the abbreviation for excerpt?
Exc. is the abbreviation for excerpt.
What is the prefix to excerpt?
The prefix to "excerpt" is "ex-".
Based on this excerpt what benefit would the US gain by investing in the rehabilitation of Europe through the Marshall Plan?
Answer this question… The United States would benefit through world economic stability.
What question was Thucydides trying to answer in this excerpt?
Give the excerpt and you might get an answer.
Which line from this excerpt contains imagery?
I'm not sure which excerpt you are referring to. Can you provide me with the excerpt so I can identify the line containing imagery for you?
What is a sentence for excerpt?
The teacher asked us to read an excerpt from the novel before class.
What does this excerpt reveal about the temperaments of psyche of burma?
You need to include the excerpt.
What does this excerpt reveal about the temperaments and pysche of the burma?
You need to include the excerpt.
