Me, Myself, and Why Problem Set Essay

1. What is the difference between opportunism and selfishness? Why is this distinction of import when considering the hawkish market providence as captivate for society? Self-interest is looking turn out for your go around interest and finding the best possible alternatives that will benefit yourself in the business world. Selfishness is putting your own interests in a higher place the interests of others and making decisions entirely based on how they will benefit you. This distinction is domineering in considering the competitive market that is stamp down for society because you need to make sure as shooting that you argon looking out for yourself plainly at the same time you should not make market decisions based solely off your own selfish interests. A selfish business man or woman will never be successful in the long run.2. Does your textual matter present only positive political economy and avoid any normative political economy? If not, give some typefaces of nor mative economic science covered in your textbook. The textbook presents twain(prenominal) positive economics and normative economics. An example of normative economics that is used in the textbook states a value-free interpretation of economics leads to tout ensemble sorts of abuses (42). Normative economics incorporate subjectiveness in to their analysis. Normative economics are heavily influenced by value image as well as speculative situations. Normative economics are the blow of positive economics.3. What did Adam smith reckon serves to curb self-interest in an economy? People care what others think of them and it is this bank for the pricey opinion of others that constrains people in their pursuit of self-interest (41). Adam goes on to say, this constraint is reinforced by contestation and by the jurisprudence system (41). Smith conceptualises that others opinions shape what they pursue. Smith gibed the sole(a) privileges of corporations and even went as far to o pposeregulations such as taxes which he claims gave individuals the strength to gain an unfair advantage.4. What does it mean to try the Kingdom of God in a democratic capitalist economy? How behind it be done? Capitalism and delivery boyianity behind be combined. It may be vexed to combine the two because many Christians believe that it is better to always put the interests of others in the first place yourself. However, Christ calls us to be good stewards of what He has given us and it is important to be good business workforce and woman that strive to be warriors for the Lord. Christ has not called us to be just alone to rise to the top and to come upon for Him. The book states, were not perfect, but we can strive to act righteously with in a system that accommodates both vice and virtue (50).