laissez-faire capitalism

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laissez-faire capitalism

by rx_11 » Tue Nov 23, 2010 6:50 am
For many years, historians thought
that the development of capitalism had not
faced serious challenges in the United
Line States. Writing in the early twentieth cen-
(5) tury, Progressive historians sympathized
with the battles waged by farmers and
small producers against large capitalists
in the late nineteenth century, but they did
not question the widespread acceptance
(10) of laissez-faire (unregulated) capitalism
throughout American history. Similarly,
Louis Hartz, who sometimes disagreed
with the Progressives, argued that Americans
accepted laissez-faire capitalism
(15) without challenge because they lacked
a feudal, precapitalist past. Recently,
however, some scholars have argued
that even though laissez-faire became
the prevailing ethos in nineteen-century
(20) America, it was not accepted without
struggle. Laissez-faire capitalism, they
suggest, clashed with existing religious
and communitarian norms that imposed
moral constraints on acquisitiveness to
(25) protect the weak from the predatory, the
strong from corruption, and the entire culture
from materialist excess. Buttressed
by mercantilist notions that government
should be both regulator and promoter
(30) of economic activity, these norms persisted
long after the American Revolution
helped unleash the economic forces that
produced capitalism. These scholars
argue that even in the late nineteenth
(35) century, with the government's role in
the economy considerably diminished,
laissez-faire had not triumphed completely.
Hard times continued to revive
popular demands for regulating busi-
(40) ness and softening the harsh edges of
laissez-faire capitalism.
--------------------------------------------------------------------------------
Q1:
The primary purpose of the passage is to
A. reveal the underlying similarities of certain arguments regarding the development
of capitalism in the United States
B. synthesize two competing arguments regarding the development of capitalism in
the United States
C. defend an established argument regarding the development of capitalism in the
United States
D. summarize a scholarly refutation of an argument regarding the development of
capitalism in the United States
E. discuss a new methodology for the study of the development of capitalism in the
United States

D

--------------------------------------------------------------------------------
Q2:
According to the passage, the Progressive historians mentioned in line 5 and the scholars
mentioned in line 17 disagree with regard to which of the following?
A. Whether laissez-faire became the predominant ethos in the nineteenth-century
United States
B. Whether moral restraints on acquisitiveness were necessary in the nineteencentury
United States
C. The economic utility of mercantilist notions of government
D. The nature of the historical conditions necessary for the development of laissezfaire
capitalism in the nineteen-century United States
E. The existence of significant opposition to the development of laissez-faire
capitalism in the nineteen-century United States

E
--------------------------------------------------------------------------------
Q3:
The passage suggests that the scholars mentioned in line 17 would agree with which of
the following statements regarding the "norms" mentioned in line 23?
A. They provided a primary source of opposition to the development of laissez-faire
capitalism in the United States in the nineteenth century.
B. Their appeal was undermined by difficult economic times in the United States at
the end of the nineteenth century.
C. They disappeared in the United States in the late nineteenth century because of
the triumph of laissez-faire capitalism.
D. They facilitated the successful implementation of mercantilist notions of
government in the United States in the nineteenth-century.
E. They are now recognized by historians as having been an important part of the
ideology of the American Revolution.

A


Can anyone help me with Q2&Q3?

My question with Q2 is that I think Progressive historians just did not question the laissez-faire, but Q2 says that Progressive historians disagreed the existance of such challenge, I think the passage does not mention that.

My question with Q3 is that I cannot even understand which side the "norms" was standing. What the earth does the passage says about "norms" Anyone can help me paraphrase those sentense about the "norms"?

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by rishab1988 » Tue Nov 23, 2010 9:26 am
Here are my answers

1) B
2) E
3) C

I hope I'm right.

The passage basically talks about an ongoing debate about how capitalism came into being in the 19th century US, that is, whether the rise of capitalism faced any challenges in the US.

Progressive historians believed that there was a widespread acceptance to the ethos of capitalism

Whereas some scholars believe not so!.

Since,you have no issues with question1, i will proceed directly to 2 and 3.

2)It is a detail question,so the answer will be explicitly stated in the passage. It asks about what progressive historians and scholars disagree about.

Progressive historians "they did not question the widespread acceptance of laissez-faire (unregulated) capitalism throughout American history." In other words, capitalism was widely accepted.

scholars "it(capitalism) was not accepted without struggle". In other words, capitalism faced resistance.

A) both agree capitalism became predominant ethos in 19th century US.
B) progressive historians don't even talk about "moral restraints".Only scholars do.
C) This is a fact." Buttressed by mercantilist notions that government should be both regulator and promoter
of economic activity, these norms persisted long after the American Revolution helped unleash the economic forces that
produced capitalism".The norms talked about are "religious and communitarian norms"
D) The passage never talks about historical conditions necessary for the development of capitalism.
E) It is the correct para-phrase of out answer. It basically means whether " capitalism faced any significant resistance ?"

3)

The question is "The passage suggests that the scholars mentioned in line 17 would agree with which of the following statements regarding the "norms" mentioned in line 23?"

Since this is a suggest question, it is a must be true question,which asks us to infer from the passage some information,which is not explicitly stated in the passage.

A) Although the passage mentions that the scholars believe that capitalism faced resistance from "clashed with existing religious
and communitarian norms that imposed moral constraints on acquisitiveness to protect the weak from the predator",it never mentions it was the primary cause of resistance.

B) Difficult economic times - outside info, because although the passage mentions that it was one of the causes of opposition,it does not mention how or by what their appeal was undermined.Therefore,this answer choice is incorrect.

C) This is the correct logical answer.Since,according to scholars capitalism faced resistance from these norms,which prevented capitalism to become prevalent,and capitalism became a prevalent ethos in 19th century,these norms must have disappeared for capitalism to become more prevalent.

D) Believe it or not,this is an opposite answer. "Buttressed by mercantilist notions that government should be both regulator and promoter of economic activity, these norms persisted long after the American Revolution helped unleash the economic forces that
produced capitalism." This means that mercantilist notions caused these norms to persist long after American Revolution.

E) This is a could be true answer.The passage does not give info to concretely say that it was an important part of the ideology of American Revolution because " these norms persisted long after the American Revolution helped unleash the economic forces that
produced capitalism" simply means that these norms persisted even after american Revolution ended.


What is the OA?

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by shovan85 » Wed Nov 24, 2010 5:11 am
For many years, historians thought
that
the development of capitalism had not
faced serious challenges in the United
Line States.

Idea1 is stated and expected reverse idea2 appearance ahead in the passage.

Writing in the early twentieth cen-
(5) tury, Progressive historians sympathized
with the battles waged by farmers and
small producers against large capitalists
in the late nineteenth century, but they did
not question
the widespread acceptance
(10) of laissez-faire (unregulated) capitalism
throughout American history.

Idea1 is described.

Similarly, Louis Hartz, who sometimes disagreed
with the Progressives, argued that Americans
accepted laissez-faire capitalism
(15)
without challenge because they lacked
a feudal, precapitalist past.

That description (Idea1) has been further supported.

Recently, however, some scholars have argued
that even though laissez-faire became
the prevailing ethos in nineteen-century
(20) America, it was not accepted without
struggle. Laissez-faire capitalism, they
suggest,
clashed with existing religious
and communitarian norms that imposed
moral constraints on acquisitiveness to
(25) protect the weak from the predatory, the
strong from corruption, and the entire culture
from materialist excess.


Against Idea1, Idea2 prevailed.

Buttressed by mercantilist notions that government
should be both regulator and promoter
(30) of economic activity, these norms persisted
long after the American Revolution
helped unleash the economic forces that
produced capitalism.

Supports Idea2 and shows the cause of so.

These scholars argue that even in the late nineteenth
(35) century, with the government's role in
the economy considerably diminished,
laissez-faire had not triumphed completely.
Hard times continued to revive
popular demands for regulating busi-
(40) ness and softening the harsh edges of
laissez-faire capitalism.

Idea2 further stands corrected.

Q1:
The primary purpose of the passage is to

A. reveal the underlying similarities of certain arguments regarding the development
of capitalism in the United States

Similarities are not pointed out in the passage

B. synthesize two competing arguments regarding the development of capitalism in
the United States

The two ideas are not synthesized to show development of capitalism

C. defend an established argument regarding the development of capitalism in the
United States

Nothing is defended

D. summarize a scholarly refutation of an argument regarding the development of
capitalism in the United States

From passage structure we can make out it is a summary and the two contrasting ideas (Refute) has been equally given privilege in the passage. None of the ideas are undermined

E. discuss a new methodology for the study of the development of capitalism in the
United States

New methodology is not discussed

Q2:
According to the passage, the Progressive historians mentioned in line 5 and the scholars
mentioned in line 17 disagree with regard to which of the following?

Before jumping to options, if you see the line 5 and 17 two kinds of scholars represented. Then if you see my skeletal representation (Marked Red in passage) you can see two contrasting ideas are prevailing and the point of TRANSITION from idea1 to idea2 is "Recently, however, some scholars..." line 17. Now we have to be bit more specific about the ideas.

Idea1: ..the development of capitalism had not faced serious challenges.. (See the first sentence of the passage)
Idea2: .. aissez-faire became the prevailing ethos in nineteen-century America, it was not accepted without struggle. Laissez-faire capitalism, they suggest, clashed .. (See Just after line 17)

Now you can clearly PREDICT that the DISAGREEMENT is between the scholars is that "Whether Laissez-faire capitalism was implemented easily or not (Had there been anyone against it?) "

Search for your answer in the options.

PS: It does not take much time if you do it through mental process.


A. Whether laissez-faire became the predominant ethos in the nineteenth-century
United States
B. Whether moral restraints on acquisitiveness were necessary in the nineteencentury
United States
C. The economic utility of mercantilist notions of government
D. The nature of the historical conditions necessary for the development of laissezfaire
capitalism in the nineteen-century United States

E. The existence of significant opposition to the development of laissez-faire
capitalism in the nineteen-century United States
rx_11 wrote: My question with Q2 is that I think Progressive historians just did not question the laissez-faire, but Q2 says that Progressive historians disagreed the existance of such challenge, I think the passage does not mention that.
Yes the passage clearly mentions about the challenge in Sentence 1 and Line 17 (Please read complete sentence ... thos in nineteen-century America, it was not accepted without struggle. Laissez-faire capitalism, they suggest, clashed with ....)

Q3:
The passage suggests that the scholars mentioned in line 17 would agree with which of
the following statements regarding the "norms" mentioned in line 23?

See the highlighted CYAN part in the passage. These NORMS were against capitalism. This can be solved by Process Of Elimination.

A. They provided a primary source of opposition to the development of laissez-faire
capitalism in the United States in the nineteenth century.

Left after POE. And it fits correctly in to the context

B. Their appeal was undermined by difficult economic times in the United States at
the end of the nineteenth century.

At the end of nineteenth century, there is no mention of DIFFICULTY in economy but the Govt Role was completely diminished (Line 36)

C. They disappeared in the United States in the late nineteenth century because of
the triumph of laissez-faire capitalism.

Last two sentences clearly says laissez-faire capitalism had faced HARD times

D. They facilitated the successful implementation of mercantilist notions of
government in the United States in the nineteenth-century.

Line 21-27 does not say anything about implementation of mercantilist notions of
government. This idea is presented in Line 30 and that to this idea buttressed govt to be capitalist. Not these norms facilitated


E. They are now recognized by historians as having been an important part of the
ideology of the American Revolution.

This could be true but not mentioned in the passage.
rx_11 wrote: My question with Q3 is that I cannot even understand which side the "norms" was standing. What the earth does the passage says about "norms" Anyone can help me paraphrase those sentense about the "norms"?
The Norms are in Line 21-27. These were the norms those acted against capitalism. These are existing religious
and communitarian norms that imposed moral constraints on acquisitiveness to protect the weak from the predatory, the strong from corruption, and the entire culture from materialist excess.
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by surfer123 » Tue Dec 28, 2010 3:07 pm
Im confused by why Q1 can't be B? Did the passage synthesize, or make, two competing arguments?

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by shovan85 » Wed Dec 29, 2010 10:12 am
surfer123 wrote:Im confused by why Q1 can't be B? Did the passage synthesize, or make, two competing arguments?
I guess though it is making two competing ideas, the ideas are more concerned about certain capitalism's STRUGGLE than its development. Along with that the later argument stands corrected against the former idea of scholars regarding the concerned capitalism.
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by surfer123 » Wed Dec 29, 2010 10:37 am
What is the source of this problem? The only thing I can think of is that synthesize means "combine" in the answer choice.

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by saketk » Mon Oct 10, 2011 10:32 am
My answers--

1) B

2) E

3) A

I am now clear why the answer choice B is incorrect for question 1. Thanks for the explanation.

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by adi_800 » Mon Oct 10, 2011 10:15 pm
The 2nd question is not worded correctly.. It can have two interpretations...
The Q2 can mean that the two groups considered in this question TOGETHER disagree with one common thing OR
it could mean that the two groups could disagree from each other... If we interpret the first part, then we are bound to get the answer wrong as passage does not mention anything about two gropus disagreeing about one common thing but if we interpret the 2nd, then we will get this question right...

I guess the original poster interpreted the 1st part and hence was confused as to why the answer is E...

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by ArunangsuSahu » Wed Jan 04, 2012 7:44 pm
Easy
(D)
(E)
(A)

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by MM_Ed » Sun Jan 22, 2012 5:11 pm
1. D
2. E
3. A. It's not B because harsh times only increased the appeal of norms that softened laissez-faire capitalism (38-42), it's not C because the norms still existed in the late 19th century (33-37), D is tricky - we know that mercantilist notions supported the norms (27-30), but we're not told if the norms supported the mercantilism, and it's not E because the paragraph doesn't suggest that the Revolution strengthened these norms - on the contrary, it unleashed the very forces the norms would then fight (31-33).
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by Ramesh L.S. » Mon Jan 23, 2012 1:55 am
My Answers are
1. D
2. E
3. A

I hope these are right answers, Lase weekend I took mock exam from GMAT prep, and I performed pathetic in verbal, thought I could answer the attempted questions correctly, I fell short of time to answer the last 12 questions and that screwed the whole result table, I think I need to improve my timings on Verbal questions; What is the time expected to solve this RC, I could do it in 5 min. Please help me.

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by mourinhogmat1 » Wed Jan 25, 2012 6:38 am
Q3:
The passage suggests that the scholars mentioned in line 17 would agree with which of
the following statements regarding the "norms" mentioned in line 23?

See the highlighted CYAN part in the passage. These NORMS were against capitalism. This can be solved by Process Of Elimination.

A. They provided a primary source of opposition to the development of laissez-faire
capitalism in the United States in the nineteenth century.

Left after POE. And it fits correctly in to the context

B. Their appeal was undermined by difficult economic times in the United States at
the end of the nineteenth century.

At the end of nineteenth century, there is no mention of DIFFICULTY in economy but the Govt Role was completely diminished (Line 36)

C. They disappeared in the United States in the late nineteenth century because of
the triumph of laissez-faire capitalism.

Last two sentences clearly says laissez-faire capitalism had faced HARD times

D. They facilitated the successful implementation of mercantilist notions of
government in the United States in the nineteenth-century.

Line 21-27 does not say anything about implementation of mercantilist notions of
government. This idea is presented in Line 30 and that to this idea buttressed govt to be capitalist. Not these norms facilitated


E. They are now recognized by historians as having been an important part of the
ideology of the American Revolution.

This could be true but not mentioned in the passage.

[/b][/quote]

I have to disagree with your explanation for Q3 Answer choice B: It doesn't explain answer choice B very well.

"Hard times continued to revive
popular demands for regulating busi-
(40) ness and softening the harsh edges of
laissez-faire capitalism."

How can you infer that Hard times does not refer to difficult economic times? How can we infer that this is not in United States? In fact I inferred them as difficult economic times and as a problem that prevailed in the United States. In fact in the previous paragraph he mentions that even in the late nineteenth century, LF had not triumphed, which is followed by hard times. So, hard times did exist in the late nineteenth century.

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by mourinhogmat1 » Wed Jan 25, 2012 6:39 am
shovan85 wrote:Q3:
The passage suggests that the scholars mentioned in line 17 would agree with which of
the following statements regarding the "norms" mentioned in line 23?

See the highlighted CYAN part in the passage. These NORMS were against capitalism. This can be solved by Process Of Elimination.

A. They provided a primary source of opposition to the development of laissez-faire
capitalism in the United States in the nineteenth century.

Left after POE. And it fits correctly in to the context

B. Their appeal was undermined by difficult economic times in the United States at
the end of the nineteenth century.

At the end of nineteenth century, there is no mention of DIFFICULTY in economy but the Govt Role was completely diminished (Line 36)

C. They disappeared in the United States in the late nineteenth century because of
the triumph of laissez-faire capitalism.

Last two sentences clearly says laissez-faire capitalism had faced HARD times

D. They facilitated the successful implementation of mercantilist notions of
government in the United States in the nineteenth-century.

Line 21-27 does not say anything about implementation of mercantilist notions of
government. This idea is presented in Line 30 and that to this idea buttressed govt to be capitalist. Not these norms facilitated


E. They are now recognized by historians as having been an important part of the
ideology of the American Revolution.

This could be true but not mentioned in the passage.
I have to disagree with your explanation for Q3 Answer choice B: It doesn't explain answer choice B very well.

"Hard times continued to revive
popular demands for regulating busi-
(40) ness and softening the harsh edges of
laissez-faire capitalism."

How can you infer that Hard times does not refer to difficult economic times? How can we infer that this is not in United States? In fact I inferred them as difficult economic times and as a problem that prevailed in the United States. In fact in the previous paragraph he mentions that even in the late nineteenth century, LF had not triumphed, which is followed by hard times. So, hard times did exist in the late nineteenth century.

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by Lifetron » Tue Jul 31, 2012 9:16 pm
D
E
A

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by tarik » Fri Aug 02, 2013 4:42 pm
I chose:

B
E
A

I am not sure about the third answer. Can anybody advice please?