Understanding Economics

Lesson 7: The Remedy; Its Justice

Please read chapters 24 - 28
and the first section of Henry George's Remedy.


1. Name six remedies frequently proposed for the abolition of poverty.           | Text |

2. The ultimate effect of removing government inefficiency and corruption would be           | Text |

a. slight; the government is relatively efficient.
b. to vastly reduce unemployment.
c. to increase wages.
d. to increase rent.
e. to increase immigration.
3. Which of the following is not true about labor unions?           | Text |

a. They do nothing to help the lowest level of working people.
b. They are losing their influence in the age of globalization.
c. They raise wages at the expense of interest.
d. They demand utter loyalty.
e. They raise wages at the expense of rent.
4. How does the concept of the "bundle of rights" of real estate ownership illustrate the essential character of land?           | Supplement |

5. What two general criteria to economists use to judge policies? Which does Henry George propose to put first - and why?           | Text |

6. Does priority of occupation give a person an exclusive right to own land? Explain your answer.          | Text |

7. Do all people have an equal right to life?

8. Can human beings live without land?

9. Do all people, therefore, have an equal right to land?

10. Legitimate ownership of something comes from           | Text |

a. a.community's laws regarding ownership.
b. possessing it.
c. the need to provide for one's family.
d. a person's right to one's self and one's work.
e. whether one uses the thing to make the world better.
11. People would think you were out of your mind if you bought land           | Supplement |

a. just to hold it for speculation.
b. without road frontage.
c. on the Moon.
d. with borrowed money.
e. without specified rights to its use.
12. Common property in land means           | Text |

a. a socialist economy.
b. that the government must lease land to all private users.
c. that improvements would be subject to seizure.
d. that the advantages of land monopoly would accrue to the community.
e. higher taxes for most homeowners.
13. If land rent is taken in taxation, landowners should be compensated because           | Text |

a. it is stipulated by the US Constitution.
b. they have purchased their land in good faith.
c. otherwise, nobody would vote for it.
d. otherwise they would be wiped out financially.
e. None of the above.

14. Why do you think the principles discussed in this lesson are not more widely understood?