[SOLVED] Introduction to Business and Philosophy

BUS 2100 Introduction to Business and Philosophy Homework #2 Answer the five out of the following seven questions. Each question is worth five points. Your answers should be one-page double spaced typed with 12 Times New Roman font and normal margins. Citing the readings (but not using quotes) will help your grade. You are required to send me both a print and an online copy.  Explain the proper recipe for economic growth. Why are some nations rich and other nations poor? Why did growth first take off in the United States and Great Britain?  Provide a description of the Industrial Revolution that occurred in the United States during the 19th century. Did standards of living for the average consumer increase? How is the traditional historical interpretation incorrect? Provide a description of the modern “Industrial Revolution” over the past several decades (from the 1970s to beyond). What are some of the ways entrepreneurs have made our lives easier and safer? Do most people understand and properly appreciate the social significance of recent technological breakthroughs? Explain three examples of political entrepreneurs and market entrepreneurs from the presentations in class. Make sure to compare the efficiency of their production and they incentive structure they faced (whether from the government or the marketplace).  “The late nineteenth century was a time of laissez faire, and businessmen were very anti-government intervention.” Evaluate this statement, and provide multiple examples.   Describe the general process in which capitalist forces improve the quality and safety of consumer goods and working standards. How does regulation impede this process? What are some examples we discussed in class or in the readings that show how regulation cartelizes an industry?  Provide a comparative institutional analysis between capitalism and socialism. Which economic system has been more responsible for the improvement in mankind’s condition since the dawn of civilization? On the other hand, which system are more people increasingly preferring? Why?

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