Lesson 3 - Practice Freedom
We defined the economic realm as the realm in which we obtain the goods and services that we use in our lives. In our discussion we pointed out that we practice freedom mostly in the economic realm. We vote for our political representatives usually no more often than every other year. On the other hand, we spend vast amounts of time preparing for our life’s work, working to earn money in exchange for our effort, and spending that money for the things we need and want. Spending money could be considered voting with our dollars.
Assignment 1
Explain how voting with our dollars in the economic realm is a win-win situation. Compare this type of voting to voting with our ballots in the political realm. Describe the similarities and the differences. How much control should the government have with the way we vote with our dollars?
– Assignment 1 Student Comments
Assignment 2
The government has a role to play in the economic realm. Read Article I section 8 clauses 5 and 6. With respect to the duties of congress listed in these 2 clauses explain the difference between the nominal value and the real value of money. While we realize that money is an imperfect means of exchange, what could the government do to make the means of exchange more stable than it is now?
