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  • Test Your Knowledge!

    One question quiz. Don't consult Wikipedia! That's cheating.

    Adam Smith's The Wealth of Nations is considered by many to be a critique of an economic system. Which economic system does this book critique?

    First person to answer it correctly gets a cookie!
    A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

    "$250,000 a year won't get me to Central Park West."

  • #2
    Re: Test Your Knowledge!

    Not knowing anything about the book, I'll guess capitalism.
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    • #3
      Re: Test Your Knowledge!

      It encompasses the entire range of economic systems in the subset of "market economies", so: capitalism, anarcho-capitalism, laissez faire, market socialism, etc.

      I took economics classes for fun in nursing school. :P

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      • #4
        Re: Test Your Knowledge!

        And what does Mr. Smith tell us about borrowing money to lend to people who can't or won't pay it back ?

        Comment


        • #5
          Re: Test Your Knowledge!

          I guess Socialism... Or am I too late..? I want the Cookie!!!
          |TG|ARMA Pathfinder
          ..now where did I put my keys?

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          • #6
            Re: Test Your Knowledge!

            Laissez-Faire is what sticks out to me the most. My economics class in high school (10th grade to be exact) was actually fantastic and our teacher made us read it right off the bat. I've forgotten most of what it had to say, though. Time to re-read.
            "Common sense is not so common." -Voltaire

            Comment


            • #7
              Re: Test Your Knowledge!

              Let's try something different, how about Mercantilism?
              BF 2142:|TG| Birdman10113
              CoD4: |TG|Birdman

              Let's put the badges here...

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              • #8
                Re: Test Your Knowledge!

                Bing-bing-bing!

                Birdman wins the cookie!

                Wealth of Nations was published in 1776. Socialism didn't exist, not even as a word, for another fifty or sixty years. Marx's Communist Manifesto wasn't published 'till 1848.

                Mecantilism, makin' a comeback!

                A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                "$250,000 a year won't get me to Central Park West."

                Comment


                • #9
                  Re: Test Your Knowledge!

                  I am currently reading the book. When I ordered it I didn't realize the thing was HUGE. Over 1200 pages in paperback. It is also very wordy. You can tell what people did for entertainment back then.

                  For extra credit, what is the "Wealth of Nations"?
                  Iím not racists, I have republican friends. Radio show host.
                  - "The essence of tyranny is the denial of complexity". -Jacob Burkhardt
                  - "A foolish consistency is the hobgoblin of little minds" - Emerson
                  - "People should not be afraid of it's government, government should be afraid of it's People." - Line from V for Vendetta
                  - If software were as unreliable as economic theory, there wouldn't be a plane made of anything other than paper that could get off the ground. Jim Fawcette
                  - "Let me now state what seems to me the decisive objection to any conservatism which deserves to be called such. It is that by its very nature it cannot offer an alternative to the direction in which we are moving." -Friedrich Hayek
                  - "Don't waist your time on me your already the voice inside my head." Blink 182 to my wife

                  Comment


                  • #10
                    Re: Test Your Knowledge!

                    I would guess the people.

                    Comment


                    • #11
                      Re: Test Your Knowledge!

                      Originally posted by xTYBALTx View Post
                      Bing-bing-bing!

                      Birdman wins the cookie!

                      Wealth of Nations was published in 1776. Socialism didn't exist, not even as a word, for another fifty or sixty years. Marx's Communist Manifesto wasn't published 'till 1848.

                      Mecantilism, makin' a comeback!


                      Socialism existed and had been around a long time, just not by that name. Given the time of year, I am reminded that Thanksgiving is a stark reminder of the failures of socialism... at least one of many failures.
                      Battlefield Samurai 'Banzaaaiii!!!

                      Comment


                      • #12
                        Re: Test Your Knowledge!

                        How so ?
                        I was very social today and made 25$ in tips so I am thankful.

                        Comment


                        • #13
                          Re: Test Your Knowledge!

                          Originally posted by KomradeObama View Post
                          I would guess the people.
                          I have to admit that I am only about 1/4 the way through the book. But from what I understand you are pretty close.
                          Iím not racists, I have republican friends. Radio show host.
                          - "The essence of tyranny is the denial of complexity". -Jacob Burkhardt
                          - "A foolish consistency is the hobgoblin of little minds" - Emerson
                          - "People should not be afraid of it's government, government should be afraid of it's People." - Line from V for Vendetta
                          - If software were as unreliable as economic theory, there wouldn't be a plane made of anything other than paper that could get off the ground. Jim Fawcette
                          - "Let me now state what seems to me the decisive objection to any conservatism which deserves to be called such. It is that by its very nature it cannot offer an alternative to the direction in which we are moving." -Friedrich Hayek
                          - "Don't waist your time on me your already the voice inside my head." Blink 182 to my wife

                          Comment


                          • #14
                            Re: Test Your Knowledge!

                            Originally posted by [tR]Greasy_mullet View Post
                            Socialism existed and had been around a long time, just not by that name. Given the time of year, I am reminded that Thanksgiving is a stark reminder of the failures of socialism... at least one of many failures.
                            Socialism, Capitalism, Mercantilism, Communism and all other 'isms have failed at one point or another depending on your measurements. No single ideology can suffice in all situations humans create or find themselves in.

                            Gotta be practical and adaptable rather that ideological. Take the best from all lines of thinking and use what works.
                            Iím not racists, I have republican friends. Radio show host.
                            - "The essence of tyranny is the denial of complexity". -Jacob Burkhardt
                            - "A foolish consistency is the hobgoblin of little minds" - Emerson
                            - "People should not be afraid of it's government, government should be afraid of it's People." - Line from V for Vendetta
                            - If software were as unreliable as economic theory, there wouldn't be a plane made of anything other than paper that could get off the ground. Jim Fawcette
                            - "Let me now state what seems to me the decisive objection to any conservatism which deserves to be called such. It is that by its very nature it cannot offer an alternative to the direction in which we are moving." -Friedrich Hayek
                            - "Don't waist your time on me your already the voice inside my head." Blink 182 to my wife

                            Comment


                            • #15
                              Re: Test Your Knowledge!

                              Originally posted by El_Gringo_Grande View Post
                              For extra credit, what is the "Wealth of Nations"?
                              Material goods.

                              The full title of the book is, "An Inquiry Into The Nature And Causes Of The Wealth Of Nations."

                              At the time of the book's writing, many thought that nations acquired wealth by stockpiling gold bullion, protecting domestic industry with tariffs, having a positive balance of trade, and expanding empire. Thankfully, no one believes that any more (ha-ha-ha!), because Adam Smith showed that nations - and of course people - actually become wealthy by engaging in mutually beneficial trade, commerce, and generally leaving citizens alone to let the "invisible hand" deliver maximum efficiency and wealth.
                              A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                              "$250,000 a year won't get me to Central Park West."

                              Comment

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