Thread: "Our Fading Heritage" US Civics Quiz

Originally Posted by nine castles

Fuck, I wish we lived in a world where you had to call yourself a historical materialist to get funding in academia

works better than "marxist"

The key word was "long term" which is perfectly true, though I won't disagree that the IMF and World Bank do a shitty job of tailoring their requirements to the needs of a developing nation (which is a sterling example of how the free market could provide better allocative efficiency)

IMF/World Bank do a terrific job. It's a lot easier to understand how their policies are effective and actually not the complete failure they appear to be when you understand that their purpose is not to help developing nations, but in fact to secure private property rights for our corporations to the natural resources of third world countries. They are tremendously successful at this.

Originally Posted by Atmosfear

#25: The question is asking for a definition of capitalism/free market, so B is the only correct answer. It's such a fine line that I won't even argue that E isn't true; it's just not the answer to the question.

It's their intended answer, and it's the correct one provided that you accept the established dogma about what capitalism is, dreamed up by the jokers who have designed our ridiculous monetary policy, rather than looking at what is going on in the real world, right now and throughout history.

Originally Posted by Atmosfear

#27: A isn't perfectly worded, but it is the closest to truth and it addresses the allocative inefficiency of centralized planning caused by the in-practice difficulty of attaining suitable information. Theoretically, if every stakeholder in the market had perfect information, it wouldn't matter which system you used because all would be capable of allocative efficiency. Hasn't worked that way in the real world, unfortunately.

We've all heard this song before. See above.

Originally Posted by ollie cromwell

works better than "marxist"

Yeah, I see your point.