Sample Quiz questions. Econ 385 Spring, 2011
Revolution chapters. 9,14,18,19.
Government Failure: A Primer in Public Choice Chaps. 1 through 8
Overview of Desoto’s Mystery of Capital
Government Failure: A Primer in Public Choice
Define and Explain the relevance of:
1. The bifurcation of human behavior
2. The "Auspices"
3. Voting paradox
4. Median voter
5. Logrolling
6. Rational ignorance
7. Agency problem or principle/agent problem
8. Iron triangle
9. Tax avoision
10. Egalitarianism
1. What is the "public choice" view of the "public servant"?
2. According to Gordon Tullock (GT) , what is wrong with democracy?
3. GT argues in favor of "very small government". Present his reasoning.
4. According to GT, more dishonesty is to be expected in the private sector than in the public sector. TRUE OR FALSE. Explain.
5. GT describes a mercantilist society as a "rent seeking" society. Explain what he means and discuss its importance.
6. GT argues that homo economicus and homo politicus are the same. Explain, provide his reasoning, and discuss the importance of his views.
7. GT argues that the U. S. Constitution was crafted to reduce rent seeking by states. Explain.
8. GT writes favorably of "bi-cameral" legislatures. Provide his reasoning.
9. According to GT, the economy/society of 1750 in China was equal to or superior to that of "the West". What is Gordon Tullock’s explanation for the change in the status of China and "the West"?
10. According to GT, rent seeking societies are not likely to be robust. Provide his reasoning.
11. Summarize GT’s criticism of "inefficient transfers of wealth". What are his recommended remedies?
12.GT argues that a "James Watt" or a "Thomas Edison" is not as likely to surface in a mercantilist society. Provide a summary of his reasoning.
13. GT cites Taiwan, Hong Kong, Singapore, and South Korea as having similar histories. Discuss the similarities and the implications for economic development.
14. What are GT"S recommendations for remedying the defects of democracy?
15. Compare the "voting" process in the private market for goods and service with that in "political markets".
16. According to GT, what is the strongest argument in favor of democracy?
17. What is the Public Choice criticism of the "Neo Classical’ Welfare Triangle"?
18. Can "rent seeking’ be a positive influence? Explain.
19. Summarize GT’s views on "Bureaucracies" .
20. According to GT bureaucrats have more power over politicians than the other way around. TRUE OR FALSE? Explain.
21. Discuss the importance of marginal tax rates versus average tax rates.
22. According to GT there are advantages of the U. S. Federal System. Discuss what those are.
23. GT addresses the "paradox of protectionism". Explain what it is and provide a possible reason for it.
24. Compare "import substitution" economic development strategy with the "export base" strategy. Give examples.
25. According to Steve Hanke and Barney Dowdle, what is the major factor contributing to the poor status of Native Americans?
26. What are the major points of Peter Bauer’s "Western Subsidies and Eastern Reform"?
27. Peter Bauer provides advice on development grants. Explain what they are.
28. In their review of the Heritage Foundation/Wall St. Journal Economic Freedom Index. Mr Johnson and Mr. Sheeley provide a narrative on the importance of the following 10 metrics. Discuss their importance.
1. Trade Policy 2. Tax Policy 3. Government consumption 4. Monetary policy 5. Foreign investment 6. Banking policy 7. Wage and pricing policies 8. Property rights 9. Regulations 10. Black market activity
29. Karl Brunner discusses two views on "social justice". List them and discuss Brunner’s views on each.
30. What does Hernando DeSoto mean by the "Mystery of Capital"?
31. According to DeSoto, what is the relationship between "assets" and "capital"?
Sample Questions, Quiz #2 Bethell book, Chps 1,3,11,12
1. What is the major thesis of Bethell’s book?
2. Bethell offers a reason for his collection of essays–explain what it is.
3. What are the "blessings of property" according to Bethell?
4. Bethell reasons that a well established system of property rights constitutes a "bulwark against power". Summarize his reasoning.
5. In his first chapter Bethell criticizes economists of the 20th century. What is the basis of his criticism?
6. According to Bethell, what common problem confronted Jamestown and Plymouth colonies?
7. What was Thomas Dale’s contribution to the resolution of the problems in Jamestown Colony? Give details and relevance to the course.
8 What was William Bradford’s contribution to the resolution of the problems of Plymouth Colony?.Give details and relevance to the course.
9. What is the relevance of Garret Hardin’s concept of the "tragedy of the commons" to Jamestown and Plymouth colonies.
10. According to Bethell, what is "Plato’s Conceit" and what relevance does it have to the thesis of Bethell’s book?
11.What is the major point of Bethell’s chapter titled "To Each His Due"?
12 Briefly discuss the importance of the views of philosopher John Rawls in Bethells’ chapter 11.
13. Discuss the major thesis of the "condominium example" in chapter 11.
14.Bethell offers in chapter 11 his opinion on what the defense of "free market systems" must rest. What is that defense? What is his reasoning?
15. Discuss the major points in Bethell’s Chapter 12- Rights and Property Rights.
16. Discuss Bethell’s descriptions/characterizations of the thoughts of Hobbes and Locke on the matter of property rights
17 Discuss Bethell’s thesis regarding individual rights, human rights, and capitalism.
18. Summarize Bethell’s narrative regarding the evolution of property rights in 20Century America.
19.What are the major points of the section called "Signs of Recovery"
20. According to Bethell, what is the significance of Richard Epstein’s book, Takings?
21. Bethell briefly references the adoption of a "flat tax" in Jamestown Colony. What is it and what was its impact?
22. In what sense was the "flat tax" in Jamestown Colony consistent with contemporary economic reasoning?
23. Compare hypothesized merits of a "flat tax" in comparison with a "lump sum tax".
24. What do Plymouth Colony and Kentucky share in common?
25. According to Bethell, what is the importance of Jean Bodin’s Six Books of A Commonwealth ?
26. Bethell refers to a criticism of John Rawl’s theory of justice by J.R. Lewis. What is that criticism?
27. Bethell argues that, in the absence of secure property rights ‘one is more likely to get rule of men/women than rule of law’. Provide a summary of his reasoning.
28. According to Bethell, what is meant by "classical liberalism"? How does it differ from contemporary "liberalism"?
Potential Final Exam questions:
1. Compare and contrast the views of Karl Brunner (Poverty of Nations) on "social justice"with those of Tom Bethell (To Each his Due/Rights and Property Rights).
2. Based on the readings in this course, discuss, with attribution, the relationship between/among the following:
a. social justice
b. inequality
c . inequity
d. injustice
More later.
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