Lesson 1: The Basics. Economic Definitions.
Please read chapters 1 - 3
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| Helpful hints for finding answers... NOTE: Enrolled students will receive |
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1. What was "the great enigma" of Henry George's day? Is this still a problem - and a mystery - today?
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2. What concept is missing from the "problem of scarcity" as it is construed by mainstream economics?
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3. What is Wealth, according to Henry George?
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4. Describe some of the confusions and ambiguities that surround the use of the term "wealth" by economists.
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5. What is production? What is its goal? When is the process completed?
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6. What fundamental principle of human exertion underlies all the laws of economics?
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7. What is land, in political economy? Name the payment that land receives.
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8. What is labor, in political economy? Name the payment that labor receives.
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9. What is capital, in political economy? Name the payment that capital receives.
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10. Why is money not included in the category of wealth?
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