Subject Business Economics

Question

1. "Ricardo and Malthus share common views on the development of a country's population. However, their theories put them on opposing sides in the major struggle of their time.'' Explain.

2. Present and compare the positions of Bentham and J.S. Mill on the role of government.

3. "N. Senior writes "By the word Abstinence, we wish to express that agent, distinct from labour and the agency of nature, the concurrence of which is necessary to the existence of Capital, and which stands in the same relation to Profit as Labour does to Wages'' (Medema and Samuels, 2013, 339).'' Explain how Karl Marx employs a labor theory of value to provide a very different answer than Senior or Ricardo did on the origin of profits.

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In England since medieval times the trade regulation, taxes, and tariffs are relatively harmless because they were not strictly binding in what the free market would provide. ...

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