Part 41

13. Discuss the defects of co-operation. Page 117.

Problems of Distribution.

1. What are the three great problems of economic society? Page 119.

2. Define functional distribution; personal distribution. Page 119.

3. What views are given as to whether functional distribution is actually governed by natural law? Page 121.

4. Discuss briefly the distribution of rent. Page 122.

5. What is the socialists’ idea as to the profits which a business manager receives for his services? Page 123.

6. State three theories which have been developed to explain the distribution of wages. Page 124.

7. How was the wealth of the United States distributed in 1893? Page 125.

8. Are the poor becoming poorer? Page 127. 411

Saving and Spending.

1. What is the relation between saving and spending? Page 129.

2. What is the real goal of all rational economic endeavor? Page 130.

3. Give the arguments which are put forth condemning luxury. Page 132.

4. What arguments are put forth to show that luxury is an indispensable stimulus to progress? Page 133.

5. What is the attitude toward luxury taken by economists? Page 133.

6. What is meant by “a socialization of luxury”? Page 135.

7. Give an illustration of a waste in consumption due to lack of knowledge and training. Page 135.

Money and Banking.

1. What determines the value of money? Page 137.

2. Give the attempts made in the United States to create a slow, steady inflation. Page 139.

3. State three arguments in favor of bimetallism. Page 139.

4. Where can we find a sufficient answer to the arguments in favor of government paper money? State the answer. Page 141.

5. Of what does the money of the United States consist? Page 141.

6. What essential quality of good bank money do bank notes lack? Explain. Page 143.

7. Enumerate the suggestions which have been made as to a new basis for the issue of bank notes. Page 143.

8. Name two other problems connected with the banking system of the United States. Page 144.

Transportation and Communication. 412