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Economics: Special Exam

In an attempt to make a holistic project model, I have been talking with as many economic minds as possible – alongside educationalists, sociologists and artists; as well as people from different communities.  The plan is to try and underpin local economic regeneration so that there are tangible benefits which come of the activities.  Hence starting the odyssey of learning economics so this is approached in a level headed and pragmatic way.  There is too much speculation in this area, so surprise surprise, I turn to the answer found through education…

To start the ball rolling, a local teacher of economics, Donald Rutherford, has set me a special exam.  These are complex matters which would not do well to have clumsy projections made on them.  In the spirit of valuing knowledge he has said that he would write me a letter saying that I had managed to rise to the challenge should I provide sufficient answers.

Francis Hutcheson
Francis Hutcheson

I will be documenting this emerging work on the website and openly sharing the discoveries on the road to trying to get a foothold in this area of thought.  Below you can see the questions….


Answer ALL questions:

1. `Measures to protect the environment are so expensive that they are endangering economic recovery.’ – Discuss
2. Does a society based on the principle of equality destroy incentive mechanisms and ruin an economy?
3. To what extent can the voluntary sector replace the services delivered by central and local government?
4. What are the determinants of entrepreneurship?


Why am I trying to do this ? Because it is important to try and understand; because it is important to try and participate; because it is possible to understand anything through diligent study and determination; because there is a responsibility to do so…

“The more ancient of the Greeks (whose writings are lost) took up with better judgment a position between these two extremes between the presumption of pronouncing on everything, and the despair of comprehending anything; and though frequently and bitterly complaining of the difficulty of inquiry and the obscurity of things, and like impatient horses champing at the bit, they did not the less follow up their object and engage with nature, thinking (it seems) that this very question viz., whether or not anything can be known, was to be settled not by arguing, but by trying. And yet they too, trusting entirely to the force of their understanding, applied no rule, but made everything turn upon hard thinking and perpetual working and exercise of the mind.”

Francis Bacon, Preface to Novum Organon


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