UCLA History of Capitalism in American Economy Discussion

Question Description

I’m working on a economics question and need guidance to help me learn.

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Discussion Questions (Unit 2)
Plan to spend about 10 minutes talking about each question, but if you find one of the
questions especially interesting or you are in the middle of a good discussion, do not feel that
you have to spend equal time on each one. Make sure that each person in your group has a
chance to talk.
After the discussion is over, write down a brief (-1 page double spaced) reflection on the most
interesting part of your conversation and post this on CCLE. This does not have to be polished
– just write the first things that come into your mind after the discussion.
1. Does the US constitution provide a good foundation for designing economic policy?
Should we always adhere strictly to the rules outlined in the constitution? Is the constitution
a living or dead document?
2. In “The Gospel of Wealth,” Carnegie argued that the wealthy should be allowed to keep
their wealth because “great sums gathered by some of their fellow-citizens and spent for
public purposes, from which the masses reap the principal benefit, are more valuable to
them than if scattered among them through the course of many years in trifling
amounts through the course of many years.” He also argued for high inheritance taxes to
encourage the rich to spend on charitable ventures during their lives. What do you think
about Carnegie’s ideas? Will society be better served by allowing the wealthy to use their
wealth for the causes they see as important? Or would it be better to tax their wealth and
use it for what the government sees as important?
3. What role should the government have in managing monopoly? Where should they draw
the line in enforcing antitrust policy? If you wrote about this for your essay, talk about what
you wrote.
4. How should the government deal with economic downturns like the Great Depression?
Should they talk a more Keynesian approach? Hayekian? Monetarist (Milton Friedman)?
Something else? If you wrote about this for your essay, talk about what you wrote.

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Explanation & Answer:
1 Page

US Constitution


American economy

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