Equality, justice, and a respect for rights are characteristics of the U.S. economic system.” Would you agree or disagree with this statement? Why?

Nov 6th, 2016
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4. “Equality, justice, and a respect for rights are characteristics of the U.S. economic

system.” Would you agree or disagree with this statement? Why?

2. Contrast the views of Locke, Marx, Smith, Keynes, and Spencer on the nature and

proper functions of government and on its relationship to business. Which views

seem to you to provide the most adequate analysis of contemporary relations between

business and government? Explain your answer fully.


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1
Running Head: MARX, SPENCER, SMITH, LOCKE AND KEYNES

Contrasting Opinions: Marx, Spencer, Smith, Locke and Keynes
Name
Institution
Date

2
MARX, SPENCER, SMITH, LOCKE AND KEYNES
Contrast in Views
Smith, as a philosopher and a modern economics initiator, provides views on business
affairs. He argues that self-interest actions of individuals are the essential tools to successful social,
the economic and political organization of any society. In his book of "The Wealth of Nations",
he explains that labor division among individuals enables one person to output more than if one
person works alone to produce a product. He referred this as "invisible hand...

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