Me, Myself, and Why Problem Set Essay

1. What is the difference between self-concern and egoisticness? why is this distinction important when considering the competitive securities industry economy as subdue for society? Self-interest is looking taboo for your best interest and decision the best possible alternatives that impart benefit yourself in the business world. Selfishness is set your own interests above the interests of others and making decisions solely based on how they will benefit you. This distinction is imperative in considering the competitive market that is take away for society because you need to make sure that you are looking out for yourself but at the same time you should non make market decisions based solely off your own selfish interests. A selfish business man or char will never be successful in the long run.2. Does your textbook present only compulsory economics and avoid any normative economics? If not, give just about examples of normative economics covered in your textbook. The tex tbook presents both affirmatory economics and normative economics. An example of normative economics that is used in the textbook states a value-free interpretation of economics leads to all sorts of abuses (42). normative economics hold back subjectivity in to their analysis. Normative economics are heavily influenced by value judgment as well as theoretical situations. Normative economics are the opposite of positive economics.3. What did Adam Smith turn over serves to curb self-interest in an economy? People care what others cypher of them and it is this desire for the good opinion of others that constrains people in their pursuit of self-interest (41). Adam goes on to say, this constraint is reinforced by competition and by the jurisprudence system (41). Smith believes that others opinions shape what they pursue. Smith opposed the grievous bodily harm privileges of corporations and even went as far to opposeregulations such as taxes which he claims gave individuals the abi lity to gain an unfair advantage.4. What does it mean to seek the Kingdom of deity in a democratic capitalist economy? How can it be done? Capitalism and Christianity can be combined. It may be problematical to combine the two because many Christians believe that it is better to always rank the interests of others before yourself. However, Christ calls us to be good stewards of what He has effrontery us and it is important to be good business men and woman that strive to be warriors for the Lord. Christ has not called us to be clean but to rise to the top and to shine 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).