Economic Systems Discussion & Essay Questions

• Which type of economic system do you support? Why?
• Which type of economic system is the most dangerous?
• If students have read George Orwell’s Animal Farm, do they believe it is a good example of the dangers of a command economy?
• In Israel, Kibbutzim are collectives that run according to the principles of a command economy. Evaluate their success.
• The Soviet Union failed due to unsustainable economic policies, not as a result of a political insurrection. Why do you believe that occurred?

• What is the ideal role of government?
• What parts of the economy should government never touch?
• Through the government, citizens are provided health services with Medicare and a financial safety net through Social Security during their retirement. Should the government be providing these services?
• The public sector has grown while the private sector has shrunk due to real economic conditions. How can the government be more aligned with its taxpayers?
• What are the advantages and disadvantages of libertarianism?

• What are the strengths of Adam Smith’s thinking?
• What are the weaknesses?
• How is Adam Smith’s theory of the invisible hand relevant today?
• Where has a hands-off policy failed?
• Where has the government become too involved?

• How successful was Ronald Reagan in realizing his economic objectives?

• Why was he not completely successful?
• Did he undermine himself?
• Were parts of his economic vision obsolete?
• Did he misread the public’s priorities?

• Adam Smith and Lyndon Johnson were considered "liberals." Alexander Hamilton and Ronald Reagan were considered "conservatives."

• How similar were the economic ideas of the two liberals?
• How similar were the economic ideas of the two conservatives?
• What do your conclusions suggest about these labels?

• Has Obama effected change? In what ways? Have the changes been positive or negative?

• The Democrats passed health-care legislation even though more than 50% of Americans opposed it. Did they do the right thing? What were the positives and negatives?

• Is Barack Obama a socialist? Why or why not?