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Worldly Philosophers by Robert Heilbroner - Essay Example

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In the paper “Worldly philosophers by Robert Heilbroner” the author presents a deep overview of the ethical, social, and political ideas of economic thought. The themes and ideas in the book present students with an opportunity to reflect on great economic thinkers…
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Worldly Philosophers by Robert Heilbroner
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Worldly philosophers by Robert Heilbroner
The author presents a deep overview of the ethical, social, and political ideas of economic thought. The themes and ideas in the book present students with an opportunity to reflect on great economic thinkers. The book worldly philosophers by Robert Heilbroner start by explaining the precarious and paradoxical nature of the behaviors of people. The author argues that Selfishness characterizes human life with work and cooperation. This results in struggle. In ancient and barbaric societies such as the Khoi Khoi in South Africa, the struggle in society does not present a challenge to the society because people act or work under pressure to survive (Heilbroner 18). However, in civilized and advanced societies, the author asserts that this kind of cohesiveness found in primitive societies is missing. In addition, in modern societies fewer incentives exist for people to act in order to survive. This leads to a disfranchised society. Due to intricacy of modern society, small transformation in society could lead to social disarray. The author talks about the struggles in society that people undergo in order to survive (Heilbroner 19).
Since we live in a capitalist society, the author argues that it is impossible to prevent some circumstances in capitalist. The overgrowing use of machines enhances high productivity of goods, which creates employment opportunities for workers to work in those industries. It will however be difficult to avoid the use of child labor to work within these industries. Huge gap of social inequalities has also continued to widen further as people become more selfish. The exploitation of the workers has constantly resulted into wars and crises, which has been difficult to prevent. The division between the owners of production and the workers meant there is likelihood of war eruption, which in this case is inevitable as a result, impairing the development of a capitalist economy (Heilbroner 21).
With huge concentration on capital, whereby small retail units had to pave way for the enlargement of wide markets agriculturalists had to suffer. It should however be noted that this system of capitalist makes it very difficult to control the economic crises. Since markets are identified with money and exchange, Heilbroner asserts that this leads to the problem of equal allocation of resources because of scarce resources. He also states there is also the problem of economic efficient since resources produced are not allocated and distributed equally. Heilbroner states that Adam Smith was right he argued that the Rules that the unrestricted free markets follow is the right to control property, transfer property one by one voluntarily, refrain from using force, and the right to establish contracts. This would solve the economic crisis since it would create an equal society. By allowing every person freedom to generate and exchange services and goods as they want, and opening all markets to fair competition, the business will thrive.
Work Cited
Heilbroner, Robert. The Worldly Philosophers: The Lives, Times and Ideas of the Great
Economic Thinkers. New York: Touchstone, 1999. Print. Read More
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