Key Words
nonprofit firm
capitalism
self-interest
competition
free market
human love and kindness
property rights
prisoners' dilemma
public-interest theory
public-choice theory
We trust complete strangers with our life because of greed not love. Explain.
How does trying to erase greed from civic culture often destroy meaningful social bonds? Why do so many people believe societal problems are caused by greed?
How do private property rights channel greed into socially beneficial outcome?
Explain the logic of the prisoners' dilemma? Can you think of examples from your life?
Which view of political theory is more plausible in your view, public-choice theory or public-interest theory? Explain.
In a free market, greed prevents monopoly. Explain.
What role does reputation play in keeping individuals honest?
What do the money bowl game and the commons have in common?
Should the government have prevented Thomas Edison from selling the electric light bulb because it unfairly put candle makers out of business?