Context and question: The basis for classical economics forms Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776. Smith criticized mercantilism, advocating a system of free trade with division of labour. He postulated an "invisible hand" that regulated economic systems made up of actors guided only by self-interest. Karl Marx developed an alternative economic theory, called Marxian economics. Marxian economics is based on the labor theory of value and assumes the value of good to be based on the amount of labor required to produce it. Under this assumption, capitalism was based on employers not paying the full value of workers labor to create profit. The Austrian school responded to Marxian economics by viewing entrepreneurship as driving force of economic development. This replaced the labor theory of value by a system of supply and demand.
What idea did Adam Smith propose?
Answer: an "invisible hand"
Context and question: Arguing against the absolutist position, Leibniz offers a number of thought experiments with the purpose of showing that there is contradiction in assuming the existence of facts such as absolute location and velocity. These arguments trade heavily on two principles central to his philosophy: the principle of sufficient reason and the identity of indiscernibles. The principle of sufficient reason holds that for every fact, there is a reason that is sufficient to explain what and why it is the way it is and not otherwise. The identity of indiscernibles states that if there is no way of telling two entities apart, then they are one and the same thing.
What did Leibniz argue against?
Answer: the absolutist position
Context and question: The ESA requires that critical habitat be designated at the time of or within one year of a species being placed on the endangered list. In practice, most designations occur several years after listing. Between 1978 and 1986 the FWS regularly designated critical habitat. In 1986 the Reagan Administration issued a regulation limiting the protective status of critical habitat. As a result, few critical habitats were designated between 1986 and the late 1990s. In the late 1990s and early 2000s, a series of court orders invalidated the Reagan regulations and forced the FWS and NMFS to designate several hundred critical habitats, especially in Hawaii, California and other western states. Midwest and Eastern states received less critical habitat, primarily on rivers and coastlines. As of December, 2006, the Reagan regulation has not yet been replaced though its use has been suspended. Nonetheless, the agencies have generally changed course and since about 2005 have tried to designate critical habitat at or near the time of listing.
What has to be designated after a waiting period of 1 year?
Answer:
unanswerable