Discuss the three types of social devices used to organize activities, motivate people, and determine who owns a society's resources. Discuss John Locke's idea that, in a state of nature, everyone would be political equals and free of constraints, and how those rights affect American institutions. According to Adam Smith, how does free market competition provide greater benefits than government interference? Discuss John Maynard Keynes's criticism of Smith's free market assumptions. Discuss how Ricardo's theory of comparative advantage supports the ideas of globalization and free trade. Discuss Karl Marx's view on how capitalist economies alienate workers. Discuss how governments control the various aspects of a mixed economy

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Three Types of Social Devices Used to Organize Activities Motivate People and Determine Ownership of Resources 1 Custom and Tradition Societies often rely on established customs traditions and cultura... View the full answer