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Read pages 158 through 171 of Donaldson-Werhane, and the Thomas Jefferson https://instructure-uploads.s3.amazonaws.com/account_108300000000000001/attachments/3410/Jefferson.pdf?response-content-disposition=attachment%3B%20filename%3D%22Jefferson.pdf%22%3B%20filename%2A%3DUTF-8%27%27Jefferson.pdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAJDW777BLV26JM2MQ%2F20200904%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20200904T131349Z&X-Amz-Expires=86400&X-Amz-SignedHeaders=host&X-Amz-Signature=2a51926a17e2849aff4befb983900b91e207800f8742a54e8002d967be7cadc2 and Karl Marx https://instructure-uploads.s3.amazonaws.com/account_108300000000000001/attachments/17224/Marx.pdf?response-content-disposition=attachment%3B%20filename%3D%22Marx.pdf%22%3B%20filename%2A%3DUTF-8%27%27Marx.pdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAJDW777BLV26JM2MQ%2F20200904%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20200904T131516Z&X-Amz-Expires=86400&X-Amz-SignedHeaders=host&X-Amz-Signature=c5a875c49f275530308985d5c1a6dec174da3518316b0094134641b47507883f readings. Submit short answers to these quiz questions. You may submit them on a separate page or type them into the textbox.
1) Comment on the strengths and weaknesses of Locke's theory of private property.
2) What is Locke's response to the accusation that his theory of private property will lead to wasteful accumulation of the "fruits of the earth"? (greed)
3) Comment on whether the theme of the Declaration of Independence leads to a system of self-centered individualism.
4) Why does Smith's theory of the "invisible hand" theoretically build a viable economy, and what limits self interest?
5) Comment on how Marxist theory concerning the alienation of workers and fetishism of the marketplace might derive from Kant's Categorical Imperative.
Textbook: Donaldson, T., Patricia Hogue Werhane, & D, J. (2008). Ethical issues in business : a philosophical approach (8th ed.). Pearson/Prentice Hall
Explanation & Answer
Attached.
1) Comment on the strengths and weaknesses of Locke's theory of private property.
John Locke is associated with liberal ideologies due to his belief that each individual
has the right for private property since it is impossible for a human being to indulge in
a sense of liberty and life without having possessions of his own. This belief came as
a subsequent notion, succeeding the base of almost all his ideas: in the natural
(original and free from influences) state, man is a free individual. One of the strengths
of Locke's theory is that it captures the essence of two very significant human needs,
the first being freedom which one cannot live without, and the second being
individuality which condemns the idea of common property as unsuitable for human
nature. Also, he argues that the capability of acquiring property is a form of
motivation for the common worker, and when incentive is lacking or absent,
realistically, man cannot be expected to be as effective to society. An atmosphere of
competition is the result of private ownership. One cannot disregard the fact that
competition has a positive connotation in the economic sphere. On the other hand,
Locke's theory has been criticized as being too simplistic and idealistic. Robert
Nozick criticized this concept by merely shedding light upon what Locke somehow
completely missed. He stated that in the case of every individual having to give up
their property for the sake of a state, then technically, everyone would have won and
not only lost. When my property is yours, and yours in return is mine, then we both
have also won. Furthermore, Locke has been criticized as simplistic due to the fact
that he does not consider that this might bring about crime since man is intrinsically a
jealous creature. Inequality could perhaps be the result of such system, since man is
also greedy and individuals that possess more than others, could become more
powerful than the rest (as we've seen throughout history).
2) What is Locke's response to the accusation that his theory of private property will
lead to wasteful accumulation of the "fruits of the earth"? (greed)
Locke Generally set rules or standards upon which this society was to live; he called
these: "limits". He says that the fruits of the Earth have to be taken advantage of prior
to their decay and one must own property equivalent to how much he aims to produce.
He states that whatever is made by god must be taken advantage of and not wasted,
and that in the state of nature, there was no competition and no motive to acquire
more possessions since nothing was scarce and everything was plentiful. Also,
keeping the betterment of the society as a whole in mind, people would definitely do
what is best.
3) Comment on whether the theme of the Declaration of Independence leads to a
system of self-centered individualism.
It could be argued that since the declaration of independence not only validates, but
stresses on equality, the rights of every individual, and that the government is there to
serve the people and not itself, that it may encourage self-centered individualism.
However, it is evidently morally required to record basic human rights in such historic
documents. Individuals need to be valued by their gov...