Reading guide for “Classical Political Economy” - Kurz.
Explain the difference between Classical Economy and Marginalist Economy (pages 19-20)
The author says that classical economists have an “objectivist point of view”. Why? (page 19).
Why do the issues of socio-economic reproduction and development assume centre stage in the analysis of classical political economy? (page 20).
The systemic and general approach is “dynamic”. Why? (page 20).
Why the author relates the marginalist approach to “robinsonades”? (page 20).
Explain the methodological individualism of the marginalist approach (page 20).
According to the author, if we only have autarchic units of production and consumption, then, there is no society. Do you agree with this opinion? (page 21).
Explain the place of Sociology between “Political Economy” and “Economics” (page 21).
Explain the position of Auguste Compte against Political economy.
With marginalism, sociological themes were removed from the economic discourse. Why? (page 22).
Explain David Hume’s naturalistic view of man (page 22).
What is Adam Smith’s view of moral judgment? (page 22)
What is the main theme of Smith’s Wealth of Nations? (page 23)
What is the role of the concepts of cooperation and assistance in Smith’s scheme? (page 23)
Explain the two crucial axioms in Smith’s scheme (page 24).
Explain the three characteristics of Smith’s economic agent (24).
Explain the “three grand orders of men”, or social classes, according to the classical economists (page 24).
Explain the differences in the access to information and knowledge, according to the social class (pages 24-25).
Why does asymmetric information give rise to a moral hazard (page 26).
Explain the process of adverse selection of debtors by the banks, in Smith’s scheme (page 26).
Explain the opposition between the cleverness of legislators and the cunning of business people (page 27).
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