Name Instructors Name Course Date Rival Interpretations of Market Society There are certain principles that look to ensure that there is a balance between the forces of social science and economics. It has been an issue under debate for quite some time. In economics for example the theories of supply and demand and the social contract for political science are all theories that have two opposing forces. Order and disorder or equilibrium and disequilibrium are core concepts in the two. There reconcile the different conflicts between people firms and so forth enables a collective prosperity. The social contract banks on the fact that the collective sovereignty has more political influence than any other thing. It is because of this that employing voice as the primary resolve in any situation is important. I do not think that there is a better approach than the other. It however is up to both concepts to ensure that in applying these theories society strikes a balance. [...]
Hirschman on Theory and History Albert Hirschman, Rival Views of Market Society (1986), 77-141. Question Hirschman is famous for criticizing the typical economist's bias for ‘exit’ over ‘voice’ and is also critical of Americans’ preference for ‘exit’ as well. What drives the choice between exit and voice? Do you think we would have a more effective political system and a stronger economy if we chose voice rather than exit more frequently than we currently do? Why or why not? INDTRICTIONS Memos are anywhere between HALF a page and ONE page (whatever it takes to answer the posed questions sufficiently, but no more than one page), using single-spaced size 11or 12 point Times-New Roman font. The main objectives of this assignment are to develop your skills at a) thinking through complex questions where there are no simple answers, and b) making a focused argument. There is rarely one ‘right’ answer to the question I ask. Rather, there are a range of defensible answers. Your job is to credibly defend whatever position you do take. And to do this in a concise manner. Thus the criteria for the analytic memos are as follows: (1) Do you make a clear and forceful argument? (2) Is your argument supported by convincing evidence/examples? For example, if you are arguing that abolishing the division of labor would be unwise, do you tell us why you think that would be the case? Do you consider (and rule out) alternative arguments? For example, do you tell us why you think Marx’s argument does not hold water? (3) Do you make correct and/or accurate assertions about the text? (4) Is your writing lucid, elegant, and free from grammatical/ spelling errors? Based on these criteria, the analytic memos will be given one of three grades: a checkplus (full credit); a check (85% of the value of a check); and 70 percent credit.