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Christian Ethics Project One

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Christian Ethics Project 1
Me, Myself and Why?

1. What is the difference between self-interest and selfishness? Why is this distinction important when considering the competitive market economy as appropriate for a society? a. Self-interest is a concern for one’s own well-being. b. Selfish is concerned excessively or exclusively with oneself with no regards to others. c. Self-interest is necessary for individuals to become prosperous and gain the necessities required. Selfishness is where individuals will do whatever it takes to make things happen no matter the costs to others. A competitive market does not make individuals selfish in the market place. If they had put in numerous road blocks for other businesses to keep them from having competition then they would be exhibiting selfishness. Every business has self-interest to stay open, maintain their employees employment and turn a profit large enough to make these things happen. 2. Does your textbook present only positive economics and avoid any normative economics? If not, give some examples of normative issues covered in your textbook. d. 3. What did Adam Smith believe serves to curb self-interest in an economy? e. “For Smith competition serves as a major curb on the excesses of self-interest. The market prices charged by a supplier of commodities and goods are constrained by his or her competition, and the wages paid to laborers are bid up by competition among buyers.” (Stapleford, J.E., 2009, p. 41). f. Although the self-interest of businesses is to make a substantial profit, they want to keep customers and maintain a regular flow of income. If they do not price their products competitively they will lose customers and the resulting income. 4. What does it mean to seek the kingdom of God in a democratic capitalist economy? How can it be done?

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