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Econ

20/10/2020 Client: jwhite211 Deadline: 3 days

QUESTION 1



  1. What economic problems were the mercantilists interested in solving and for whose benefit?  How do those compare with the problems addressed by the Scholastics?  Was foreign trade  a “win-win” proposition for both nations involved in exchange? 


QUESTION 2


1.  


Why did the early mercantilists oppose the exporting of gold bullion? What was Mun’s argument in favor of it?  


QUESTION 3


1.  


How did Mandiville's argue that that self love (in the form of greed) is what caused a society to flourish?  Can you find a problem with this argument?  What was Adam Smith's reaction to Mandiville's ideas?


QUESTION 4


1.  


According to Sedlacek, how is Smith’s concept of self interest consistent with his previous argument that “sympathy” is the foundation of a moral society

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