College of Business Administration

Seminar in Business and the Good Society

Discussion Questions for April 03, 1997:

Assigned Reading:

The Worldly Philosophers

Session Facilitators:

Peter Bradford/Brenda Faulkner/Rob Sauvajot

1. Heilbroner states that "the very fact that he (man) has had to depend on his fellow man has made the problem of survival extraordinarily difficult." In your utopia, do people depend on each other for survival? Why or why not?

2. At the heart of Adam Smith's concept of capitalism is the idea that man's human nature is based on self-interest. How do you deal with self-interest in your utopia? Have Adam Smith's ideas of capitalism led to a good society? According to Smith, "Individual self-interest in an environment of similarly motivated individuals will result in competition." How is competition healthy in society?

3. The utopian socialists Malthus and Ricardo compare the working conditions of children in two different communities. "Children were whipped day and night...to stimulate their flagging industry" in one community, while in the other community conditions were "rather humane." How has capitalism contributed to child labor? Is it responsible? What kind of child labor exists today? What role does education play in capitalistic society?

4. Is a classless society a utopia? Why or why not?

5. What are the good and bad aspects of communism? What role does government play in your utopia?

6. What are the differences between communism and socialism? Why is communism more efficient?

7. Compare and contrast "laissez-faire" capitalism with Keynesian capitalism.

8. How are scarce resources allocated within the following economic environments: capitalism, socialism, and communism?

Return to Professor Dunn's home page.