In your answers please cite at least four theorists Adam Smith, Karl Marx, John Maynard Keynes, Thorstein Veblen, John Galbraith, Hyman Minsky, and Frederick Hayek.
1. Select one case from pages 237-243. Explain what happened in the case and why you thought it is most damaging to the United States Political Economy?
2. The rise of populism in today’s United States and Europe has deep roots in the political economy. Please explain three or more factors / reasons that could explain them?
3. The key question in political economy is the relationship between market and the state / government. After completing this course, what do you think is the ideal relationship between the state and the market? You may consider using such terms as Laissez-faire / neo-liberal / main-stream economist, and political economic approach to illustrate your point.
4. How can social democracy cure the phenomenon of “private opulence and public squalor”? Take Sweden or another Nordic democracy as example.
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