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What is Aristotle's definition of eudaimonia
It is the ultimate goal of all human beings to achieve activities manifesting virtue and excellence. It is a state of well being and flourishing.
What is Aristotle's idea of ergon?
Ergon is the function of human beings. It is activity of the rational part of the soul in accordance with virtue.
What is Aristotle's definition of a polis?
It is a community of individual aiming to live well and engaging in worthwhile activities together.
What are Smith's three principles of human labor?
- 1.) Utility: we value useful goods more for their artful contrivance than for the value it provides.
- 2.) Prosperity/Adversity: We sympathize more readily with prosperity than adversity.
- 3.) Regard: We value being well regarded by others. Wisdom, virtue, wealth, and greatness are well regarded.
What are Smith's three principles of politics?
- 1.) Recalcitrance: Our political systems must realistically accommodate people's preferences since it may be difficult to persuade others to adopt our ideals.
- 2.) Channeling passions: A commercial order can help channel people's desires for useful goods and regard of others into socially useful directions
- 3.) Markets free of fraud provide mutually beneficial exchange and increase participation. Markets channel greed and ambition to socially useful ends and the division of labor depends on the market.
What is Smith's definition of productive and unproductive labor?
productive labor adds value to the subject which it's bestowed but unproductive labor perishes in the instant of production.
What are the 3 principles of Marxian politics and economics?
- 1.) the capitalist mode of production brings wealth to the society but impoverishes workers.
- 2.) the capitalist mode of production through division of labor dehumanizes workers
- 3.) politics and ethics can't improve the situation of workers, but the transformation of the mode of production.
Describe Wendell's definition of exploitive and nurturing tendencies
- -The exploiter is a specialist whose standard is efficiency and goal is wealth. The exploiter views everything as a resource to be used and destroys culture through rapid changes for the sake of economic progress.
- -The nurturer is related closely to the land and views things as objects to care. The nurturer creates permanent culture and is a generalist whose standard is care and goal health.
Describe Maclntryre's definition of practice
-A practice is coherent, complex, and socially established. It is a cooperative human activity in which internal goods are realized in trying to achieve standards of excellence that are appropriate for the activity.
Describe MacIntyre's definition of virtue
-Virtue is an acquired human quality that enables us to achieve goods that are internal to practices. It is socially established and cooperative and enables persons to achieve a standard of excellence.
What is Smith's indictment of obstacles to free trade, such as tariffs and bounties?
-Tariffs and other restrictions give monopolies against their countrymen. Free trade shouldn’t be favoured in an industry when it’s essential for a non-commercial policy of the nation that this industry should be strong
What is Aristotle's two definitions of different kinds of money-making
- 1. Unnecessary accumulation of wealth for the sake of excess
- 2. The accumulation of money for the sake of necessity
Describe Rawls's "difference principle"
Is the idea that offices are opened to all for the benefit of all. The bottom system should be maximized so that economic inequality is justified if they are for the benefit of the least well off class in society
What does Solomon mean by “the individual embedded in community” and the “false antagonism” of altruism and self-interest?
-In a community, people work together for a common goal to serve society’s demands for the common good and be rewarded for doing so.
Describe the three parts of Nozick’s Entitlement Theory of Justice
- -A principle of justice in acquisition: how people first come to own property justly
- -A principle of justice in transfer: explains how someone can acquire holdings from another justly
- -A principle of rectification of injustice: explains how to deal with holding that are unjustly acquired or transferred. People should acquire holdings in a just way from others who acquired holding in a just manner.
What is Solomon’s definition of virtue? ( what is the special role of virtue in Solomon’s conception of the individual-in-community)
-Those who contribute to the goal of society including the goals of business
What is Solomon’s definition of the extended self?
-People have an extended self in which qualities such as care, love, and loyalty are felt for others. The self is constituted not only of self seeking interests, but also the things it cares about
Arendt’s three “human conditions” and the three types of human activity corresponding to these conditions
-Laboring is the biological human condition that is cyclic and focused on remaining alive. Working is of the worldly condition that is focused on making something permanent. Plurality is the condition in which action is performed and is focused on self disclosure and speech.