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What are the contributions and criticisms of Marx’s
approach to social change
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- What are the things that we can learned from Adam Smith's Wealth of Nation that related to modern economics and how we can make him as a role model?What’s the relationship between the QBL, inclusive capitalism, conscious capitalism, and a regenerative economyOutline the basic assumptions of McGregor’s Theory X and Theory Y. Hofstede has pointedout that discussion about McGregor’s Theory X and Theory Y is based on observations inWestern societies – which are different in many ways from the new economic powers inthe East. What is your opinion?
- (ii) To what extent is the stage theory of Rostow applicable to underdeveloped countries?Determine whether each of the following statements is positive or normative. (Remember that apositive statement isn’t necessarily correct; it justmakes a factual claim rather than a moral judgment.People who pay their bills on time are lesslikely than others to get into debt.b. Hard work is a virtue.c. Everyone should pay his or her bills on time.d. China has a bigger population than any othercountry in the world.e. China’s One-Child Policy (which limitsfamilies to one child each) helped to spur thecountry’s rapid economic growth.f. Lower taxes are good for the countryHow does Hunt respond to the criticism directed against Marx in his argument on the " increasing misery" of workers
- In relation to Marx, what are the central dynamics driving globalization?economic decisions in traditional economic systems are attributed to-true or false Economic models must mirror reality or they are of no value. When economists make normative statements, they are more likely to be acting as scientists. If a country's worker can produce 5 hamburgers per hour and 10 bags of fries per hour, then absent trade with other countries,the price for 1 bag of fries is 2 hamburgers. If trade benefits one country, it's trading partner must be worse off due to the price of trade. If an advanced country has an absolute advantage in the production of everything(relative to certain less developed countries), the advanced country will benefit if it eliminates trade with less developed countries and becomes self sufficient.
- What are some of the primary ideas of philosopher Karl Marx? What did Marx see during his lifetime that might have led to his ideas?Discuss briefly Schumpeterian theory of economics development.Which is the correct interpretation of the Invisible Hand? (A) The corporations associated with weapons, pharmaceuticals, and agriculture profit, thus increasing economic growth. (B) People are less likely to trade with foreigners, since they know more about the domestic market. (C) Capitalism and the free market lead to maximum prosperity for society. (D) The gap between a worker’s labour value and the capitalist’s profit begets alien ation of labour