Scientific Management Theory Discussion Questions

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1.Two of the majors contributions to Scientific Management, were Daniel McCallum and Frederick W. Taylor. Which were their ideas and what do you think about their ideas?

2.What it is Investment Banking? Who is Jay Pierpont Morgan?

3.The equation of Exchange is MV = PQ. Research it, and define what M, V, P and Q mean (Definitions).

4.When writing our constitution, our founding fathers focused carefully on the question of state versus national interest, and it was left implicit that “Powers not delegated to the Federal government or forbidden to the states were reserved to the states (or the people). Local laws, civil conduct and the like are then to be decided by the people (The states). Now this it is relevant today, discuss briefly, whether Sanctuary Cities, legalization of marijuana, abortion or gay marriages are constitutionally the right of the states to resolve.?

5.List the major powers transferred from the states to the Federal Government (it can be found at the beginning of the chapter “Hard Realities fir a new nation.”)

6.Summarize the land ordinances of 1785 and 1787 (written under the guidance spirit of Thomas Jefferson). How these ordinances shaped the US that we know?

7.After reading Economic Insight (13.2 – Twelfth Edition): 1860 SLAVE PRICES IN TODAY’S VALUES. Explain the value of a slave in today’s dollars and reflect on the effect that this value had on the lives of slaves in the cotton plantations.?

8.What it is the Bagehot’s Rule? Did the Central Bank of Us applied this rule in 1930’s? Could the Great Depression of 1930’s be avoided or less severe?

9.The US government and the constitution of US gave Native Americans territories in permanency. Yet, Andrew Jackson massacred and forced Native Americans out of these territories and mandated the Cherokee to march in severe winter weather to what now is Oklahoma (“Trail of Tears.”) Discuss these US Government actions with other students.

10.Define what it is an “Indenture.” Please comment on the following few questions: Is it “”quasi-slavery”? What the cost? What is benefit? Was it good for the colonies?

11.Why The south lost the Civil War?

12.Why Andrew Jackson killed the second bank of US?

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