The origin of economics as a science dates back to the publication of An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith in 1776. Smith believed a market economy would generally bring individual self-interest and the public interest into harmony.
Based upon those notions of self-interest and public interest and the bringing of both into harmony, according to Adam Smith, how would a market economy accomplish that harmony about which he describes? What is government’s place in that market economy?
Think about society’s need to choose amongst competing resources and goals. How does personal gain affect choices by individuals and government? Opportunity costs. While we want to do one thing, we can’t do others based upon scarcity and opportunity costs. Resources are finite. What about incentives as opposed to free offerings? What about trade?
For your follow up post…review the responses provided by your peers. Engage in conversation, or even civil debate, as you discuss their insights and viewpoints. You may ask questions for clarification (if you are confused by their initial post) or pose questions that advance the conversation. You might even find a topic that leads you to further research in the area!
View your discussion rubric.
Keiona Hill
week 1 discussion
Adam smith descirbes a concept namely willingness to buy and sell, what it states is that individuals will look at their personal interest and decide to buy or sell based on how they value something. Government’s role will be very limited, it has to ensure matters like national security, law and order and providing better public goods liek transport, schools, in terms of economy… Personal gains can lead to individuals working in self interest, in other words they look for opportunities where they benefit the most, now on Government part this is dangerous as it could lead to unethical behavior by individuals….. Instead of free subsidy of electricity, if Government offers a cashback for every x units saved, in terms of opportunity cost it is either a cashback or some units of bill is waived off….
Gretle Ollison
Week 1 discussion
Adam Smith the father of modern economics refers tat the best economic benefits is when people act in their own-interest goods and services are created that benefit consumers and procedures. The government’s place is to increase efficiency to provide infrastructure personal gain affect our wants greatly exceed the ability to pay. Opportunity cost which is the value of the next alternative opportunity cost is given up. Incentives is a thing that motivates or encourages one to do something.
2. Key Habits and Skills of Thinking
Welcome to the Discussion Forum!
Each week, you will be asked to respond to the prompt or prompts in the discussion forum. Your initial post should be 75-150 words in length, and is due on Sunday. By Tuesday, you should respond to two additional posts from your peers. If you have not done so lately, please review the Rules of Discussion.
For your follow up post…review the responses provided by your peers. Engage in conversation, or even civil debate, as you discuss their insights and viewpoints. You may ask questions for clarification (if you are confused by their initial post) or pose questions that advance the conversation. You might even find a topic that leads you to further research in the area!
Review the three profiles on Einstein, Bly, and Vitz in Chapter 1 of Becoming a Critical Thinker. Apply and elaborate on three of the concepts you learned in Chapter 1 (one to each profile). What were the lessons you learned from reviewing these three profiles? Why is it important to check facts and test opinions? Of these three profiles, who do you admire the most and why?
View your discussion rubric.
Joshua Cadwell
Key Habits and Skills of Thinking
Hello Class,
Of the 3 profiles we read about in “Becoming a Critical Thinker “Chapter 1, I would have to say I admire Einstein the most of the three profiles we learned about this week, mostly because I can relate to his dedication and how he thought outside the box.
Einstein showed that intellegience has nothing to do with book smarts and remembering and reciting knowledge learned. Intellegience is far more than being a encylopedia, it is the process of evaluating all the facts and critically analyzing what is known to come to a theory.
Bly shows the curiosity and questioning what is said or known can allow us to gain a . Many people hesitate to ask questions and Bly went as far as reporting the WW2 on the front lines just to get the truth.
Vitz- A reformed Athiest proves that if you take the views of others into consideration and look to the truth of all views you can make your own choice on what you believe. Vitz tested this theory and tried to base why individuals think the way they are, was it because of their past, current enviroment, or do they just follow blindly based on unfound facts that are stated as facts.
All of these profiles show that you can not trully take everything as fact just since it is stated that way, a fact needs to be proven with some type of credible source before we should consider it in any hypothesis, idea, or theory. Now I am not say we dont theories possible resolutions to a problem with throwing in variables that are not proven to be fact, but these variable need to have a high probability in my opinion when utilize them in critical thinking.
David Bales
Key Habits and Skills of Thinking
Good afternoon,
Vitz-Ideas are interrelated
Just the idea that a proclaimed Atheist found a relationship with God by asking and pondering (critical thinking) many questions. That is all part of the process is to have an ieda and to do the research and find the facts and draw conclusions. I would venture to say that Vitz raised many questions in other atheists and in the “religious” communities by asking questions and researching. More so, Vitz questioniing himself to the point that he changed his beliefs and his life.
Einstein-Feeling is no substitute for thinking
Wow, what a story on his life. Countless failures that he did not let get in his way. If you look at the what if side of Einstein, he could have dwelled on all of his failures and said woe is me. Where would we have been today if Einstein would have failed? He did not let his feelings get in his way of becoming a brillant scientist. He achieved a doctorate! that is an achievment in its self. His focus was on success and not failing. This is a great example of not letting your feeling get in the way of your success.
Bly- Curiosity
You can say what a strong female to bve a reporter in WWI. Asking all of the right questions to get the real story of the war. To cover WWI must have been scary and exciting all at the same time. Do you have to be courious to be a reporter? I would think so., Not every story that you would cover would be that interesting, just think of the knowledge gained by the research.
I knew nothing about Bly and Vits before reading this chapter. Einstein I knew a little about. The effect that this has had on me is that with these three they never stopped asking questions. They may have failed in parts of their lives, that did not keep them down. Picking your self up and moving on, asking more questions and doing the research from credible resources to find facts is what life is about to me. Learning to suceed when failures come and building on those failures by doing he critical thinking to solve problems is the correct path to travel.
Respectfully,
Dave
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