3 Post up to 20 questions per month What role does human nat

3 Post up to 20 questions per month What role does human nature play in determining which economic systems may succeed? Select a subject so we can find the right Chegg Expert) Bu Math Science Engineering Physics Computer Science Prealgebra

Solution

ANSWER:

At the core of every social, political, and economic system is a portray of human nature. The United States founders believed, and capitalism rests on the belief, that individuals are driven by “self-interest” and the desire to improve the condition. Self-interest is not necessarily bad; as Smith believed, and capitalism presupposes, that the general welfare depends on permitting an individual to pursue self-interest as long are not violating the laws of justice. When an individual behaves in their own interest then frequently promotes [the interest] of society.

Three significant models of human nature are:

--humans, while flawed, are perfectible. The supporters of free enterprise believe that creativity, enterprise, and ingenuity compose important parts of human nature.

--humans are flawed, and fatally thus we have to accept and build our society around this unpleasant reality. Economists viewed human nature as more nearly the opposite: inelastic, unalterable, and brittle

--although human beings are flawed, still are capable of virtuous acts and self-government that under the appropriate circumstances, human nature can work for the benefit of the whole. Economist believed instead that human nature was mixed, a combination of virtue and vice, corruption and nobility. People were swayed by both reason and passion, capable of self-government however not to be trusted with absolute power.