QUESTION IMAGE
Question
- the invisible hand of the free market discussed by adam smith refers to which of the following?
selfishness
public interest
a natural right
unionization
- in consideration of reciprocity, which of the following examples is a reasonable limitation on ones rights and freedoms as discussed in the lesson?
a person not being allowed to protest the local abortion clinic and make a point about his or her pro - life views
a person not being allowed to write an angry letter to his or her state government leaders about their position on taxes and government spending
a person not being allowed to build a campfire in the forest simply because there is a high chance of forest fires.
a person not being allowed to hand out flyers that give a negative perspective of a new company coming into the community
- In Adam Smith's theory, the "invisible hand" refers to the public interest. When individuals pursue their self - interest in the free market (e.g., producers trying to maximize profit by producing goods that consumers want), it leads to an outcome that benefits the public as a whole. Selfishness is the starting point of individual behavior, but the result (due to the "invisible hand") is in the public interest. A natural right is a philosophical concept about inherent rights of individuals (e.g., life, liberty), and unionization is related to workers' collective action, not the "invisible hand" concept.
- For the second question, considering reciprocity (the idea that one's rights should not unduly infringe on others' rights or public safety). A person not being allowed to build a campfire in the forest when there is a high risk of forest fires is a reasonable limitation. Building a campfire in such a situation could endanger the lives and property of many (due to the risk of forest fires spreading), so it is a limitation to protect the greater good. Protesting (as long as it is peaceful) is a form of free speech (so not allowing a protest about pro - life views is not a reasonable limitation in a normal context of free speech). Writing an angry letter (as long as it is not threatening) is also a form of free expression. Handing out flyers with a negative perspective (as long as it is not defamatory) is a form of free speech.
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- public interest
- a person not being allowed to build a campfire in the forest simply because there is a high chance of forest fires.