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Ethics of the Free Enterprise System

Ethics of the Free Enterprise System. What qualities should an ethical economic system have?. First Characteristic. People are free to choose the type of work they want to do. 2nd. Wide variety of goods is available to both the majority and minority populations of society. 3rd.

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Ethics of the Free Enterprise System

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  1. Ethics of the Free Enterprise System • What qualities should an ethical economic system have?

  2. First Characteristic • People are free to choose the type of work they want to do.

  3. 2nd • Wide variety of goods is available to both the majority and minority populations of society

  4. 3rd • An ethical system rewards (or punishes) producers according to how well or poorly they respond to the preferences of the buying public.

  5. 4th • People must have freedom buy and sell goods, acquire property, work where they want to work, or start their own businesses • They also have the freedom to fail

  6. Free Enterprise • Free enterprise does not offer guaranteed outcomes • It offers freedom

  7. Declaration of Independence • What was the point?

  8. Declaration of Independence • The King had prevented “the 13 colonies from trading with all parts of the world”

  9. Constitution • Article 1, Section 8 – “No tax or duty shall be laid on articles exported from any State” • What would happen if states had been allowed the right to impose a tax on each other’s goods?

  10. Group Work • How might American history and present day life be different if the different states had been given the right to tax each other’s goods? • Each group/pair must present 5 different ideas

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