Adam Smith, the Premier Philosopher of Capitalism, Took the Position

question 66

Multiple Choice

Adam Smith, the premier philosopher of capitalism, took the position that:

• A) the free market and not the legal system is the best and most efficient means for preventing or minimizing harmful conduct by businesses
• B) the criminal law should be used to impose limitations on business competition
• C) since businessmen do no harm to consumers, there is no reason to formulate laws directed at their activities
• D) laws directed at business activity will do more harm to the most powerful businessmen

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

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Definitions:

Sherman Act

The Sherman Act is a landmark federal statute in the field of United States antitrust law passed in 1890, which prohibits monopolistic practices and promotes competition.

Per Se Treatment

A legal doctrine implying that an action or condition is inherently illegal without the necessity of proving harm or competitive disadvantage.

Rule Of Reason

A legal doctrine used in antitrust law to determine if a business practice is unlawful based on its impact on competition.

Joint Action

A collaborative effort where two or more parties work together towards a common goal or objective.