CliffsNotes on

The Worldly Philosophers

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About the Book

Summaries and Commentaries

Chapter 1: Introduction
Chapter 2: The Economic Revolution
Chapter 3: The Wonderful World of Adam Smith
Chapter 4: The Gloomy Presentiments of Parson Malthus and David Ricardo
Chapter 5: The Visions of the Utopian Socialists
Chapter 6: The Inexorable System of Karl Marx
Chapter 7: The Victorian World and the Underworld of Economics
Chapter 8: The Savage Society of Thorstein Veblen
Chapter 9: The Heresies of John Maynard Keynes
Chapter 10: The Contradictions of Joseph Schumpeter
Chapter 11: Behind the Worldly Philosophy

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Cite this Literature Note

Is Hillary Clinton a good choice for Secretary of State?

Yes, she will restore diplomacy and heal international relations.
Maybe, but she would have been more effective remaining a Senator.
No, she will cause conflict in the Obama administration.
Can't decide. I’ll give her a chance before making a judgment.

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1:  Robert Louis Heilbroner patterned his economic views after which close associate?

a. His mother

b. The family chauffeur

c. His world economics professor in college

d. David Ricardo, a stockbroker and Heilbroner's mentor
2:  Another name for the Market System is

a. diplomacy

b. not-for-profit

c. private enterprise system

d. capitalization
3:  The free enterprise system would not exist without which of the following?

a. raw materials

b. profit motive

c. worker bees

d. political underpinnings
4:  The ancient philosophers denounced economics in favor of basic questions about all but which of the following?

a. God

b. wealth

c. truth

d. evil
5:  Adam Smith founded the school of

a. Classical Economists

b. Industrial Revolutionaries

c. Hard Knocks

d. Utopian Socialists
6:  In his late eighteenth-century perspective, David Ricardo viewed workers as little more than

a. automatons

b. commodities

c. profiteers

d. uneducated lemmings
7:  Who was the first economic statistician?

a. Robert Louis Heilbroner

b. David Ricardo

c. Karl Marx

d. Thomas Malthus
8:  What groups of people wrecked and burned mills to express their hatred of factories in England in the 1820s?

a. Luddites

b. Owenists

c. Friars

d. Landlords
9:  Which of the following was not a member of the Fabian Society?

a. H.G. Wells

b. Tempest Slade

c. Beatrice Webb

d. George Bernard Shaw
10:  Charles Fourier believed humanity advanced through life cycles that recurred every 80,000 years, with the first and last stages being

a. Emergence and Industry

b. Patriarchism and Savagery

c. Atlantis and Utopia

d. Confusion and Harmony
11:  Which of the following would be considered members of Marx's haute bourgeoisie class?

a. rich capitalists

b. independent farmers

c. sophomores

d. scribes
12:  The unschooled Henry George has personal experience as all but which of the following?

a. bureaucrat

b. gold prospector

c. tramp

d. presidential candidate
13:  National prosperity in a market economy is based on

a. gross national production

b. gold and silver exchange rates

c. total of all individual incomes

d. interest accumulation
14:  During the Age of Enlightenment, a group of thinkers called physiocrats believed that which of the following was the true source of wealth?

a. mercantile manufacturing

b. child labor

c. land and agriculture

d. inheritance
15:  Where would you find the following passage: "For the love of money is the root of all evil."

a. An Inquiry into the Nature and Causes of the Wealth of Nations, by Adam Smith

b. Heilbroner's The Quest for Wealth

c. Ramayana, by Krishna Dharma

d. The New Testament of the Bible (Timothy 6:10)



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