“Normative Foundations of Introductory Economics” by Emily Northrop

The American Economist, Spring 2000, pp. 53-61.

If you don’t have the course packet, the article is available on-line. From SU’s homepage, click on “Library,” then on “On-line Journals,” and proceed from there.

I argue that introductory economics texts make implicit value judgments. Many economists don’t agree with me. One esteemed colleague stated it simply: “I don’t teach values.” So, are there value judgments inherent in the introductory books? Read the article and answer each of the following:

·  For which one of these value judgments did I make the strongest, most compelling case? That is, which are you most convinced IS a value promoted by the texts? What did you find convincing?

·  For which were you left least convinced?

·  Simply list all (if any) of the value judgments common to the texts that you personally agree with.

·  Simply list all (if any) that you personally disagree with.

So, according to my piece textbook writers promote the following values:

Goods that have the same price have equal merit. That is, there is no difference between a rich person getting a second home at a cost of $300,000 and a sick child receiving needed medical care at a cost of $300,000.

Economic growth is desirable. It is good for the production and consumption of goods and services to grow and grow, even in wealthy nations.

Consumerism is a good thing. Consuming a lot is better than frugality, simplicity, and moderation in consumption.

Markets are desirable because market exchanges are voluntary exchanges in which everyone wins.

Only humans have intrinsic (or inherent) value. Animals matter only in so far as they are useful to humans.

ME

TEAM It is good that people in my society see ourselves first as self-interested individuals. Looking out for #1 is a good thing.

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“High-School Economics: Corporate Sponsorship and Pro-Market Bias” by Mark Maier

Dollars & Sense, May/June 2002

The article is available on-line. From SU’s homepage,

click on “Library,”

then on “On-line Journals.”

Click on “Titles” and

enter the journal title.

Then proceed from there.

Summarize the main argument of the article.

Indicate whether or not you share their concern. Explain your position.