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# Woodrow Wilson was referring to the liberal idea of the economic marke

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Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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Updated on: 24 Jan 2019, 02:16
1
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Woodrow Wilson was referring to the liberal idea of the economic market when he said that the free enterprise system is the most efficient economic system. Maximum freedom means maximum productiveness; our “openness” is to be the measure of our stability. Fascination with this ideal has made Americans defy the “Old World” categories of settled possessiveness versus unsettling deprivation, the cupidity of retention versus the cupidity of seizure, a “status quo” defended or attacked. The United States, it was believed, had no status quo ante. Our only “station” was the turning of a stationary wheel, spinning faster and faster. We did not base our system on property but opportunity—which meant we based it not on stability but on mobility. The more things changed, that is, the more rapidly the wheel turned, the steadier we would be.

The conventional picture of class politics is composed of the Haves, who want a stability to keep what they have, and the Have-Nots, who want a touch of instability and change in which to scramble for the things they have not. But Americans imagined a condition in which speculators, self-makers, runners are always using the new opportunities given by our land. These economic leaders (front-runners) would thus be mainly agents of change. The nonstarters were considered the ones who wanted stability, a strong referee to give them some position in the race, a regulative hand to calm manic speculation; an authority that can call things to a halt, begin things again from compensatorily staggered “starting lines.”

“Reform” in America has been sterile because it can imagine no change except through the extension of this metaphor of a race, wider inclusion of competitors, “a piece of the action,” as it were, for the disenfranchised. There is no attempt to call off the race. Since our only stability is change, America seems not to honor the quiet work that achieves social interdependence and stability. There is, in our legends, no heroism of the office clerk, no stable industrial work force of the people who actually make the system work. There is no pride in being an employee (Wilson asked for a return to the time when everyone was an employer). There has been no boasting about our social workers—they are merely signs of the system’s failure, of opportunity denied or not taken, of things to be eliminated. We have no pride in our growing interdependence, in the fact that our system can serve others, that we are able to help those in need; empty boasts from the past make us ashamed of our present achievements, make us try to forget or deny them, move away from them. There is no honor but in the Wonderland race we must all run, all trying to win, none winning in the end (for there is no end).

1. The primary purpose of the passage is to

(A) criticize the inflexibility of American economic mythology
(B) contrast “Old World” and “New World” economic ideologies
(D) champion those Americans whom the author deems to be neglected
(E) suggest a substitute for the traditional metaphor of a race

2. According to the passage, “Old World” values were based on

(A) ability
(B) property
(C) family connections
(D) guild hierarchies
(E) education

3. In the context of the author’s discussion of regulating change, which of the following could be most probably regarded as a “strong referee” in the United States?

(A) A school principal
(B) A political theorist
(C) A federal court judge
(D) A social worker
(E) A government inspector

4. The author sets off the word “Reform” with quotation marks in order to

(A) emphasize its departure from the concept of settled possessiveness
(B) show his support for a systematic program of change
(C) underscore the flexibility and even amorphousness of United States society
(D) indicate that the term was one of Wilson’s favorites
(E) assert that reform in the United States has not been fundamental

5. It can be inferred from the passage that the author most probably thinks that giving the disenfranchised “a piece of the action” is

(A) a compassionate, if misdirected, legislative measure
(B) an example of Americans’ resistance to profound social change
(C) an innovative program for genuine social reform
(D) a monument to the efforts of industrial reformers
(E) a surprisingly “Old World” remedy for social ills

6. Which of the following metaphors could the author most appropriately use to summarize his own assessment of the American economic system
(A) A windmill
(B) A waterfall
(D) A gyroscope
(E) A bellows

7. It can be inferred from the passage that Woodrow Wilson’s ideas about the economic market

(A) encouraged those who “make the system work”
(C) revealed the prejudices of a man born wealthy
(D) foreshadowed the stock market crash of 1929
(E) began a tradition of presidential proclamations on economics

8. The passage contains information that would answer which of the following questions?

I. What techniques have industrialists used to manipulate a free market?
II. In what ways are “New World” and “Old World” economic policies similar?
III. Has economic policy in the United States tended to reward independent action?

(A) I only
(B) II only
(C) III only
(D) I and II only
(E) II and III only

9. Which of the following best expresses the author’s main point?

(A) Americans’ pride in their jobs continues to give them stamina today.
(B) The absence of a status quo ante has undermined United States economic structure.
(C) The free enterprise system has been only a useless concept in the United States.
(D) The myth of the American free enterprise system is seriously flawed.
(E) Fascination with the ideal of “openness” has made Americans a progressive people.

Plz do mention time taken for this RC.

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Originally posted by saurabhgoel on 09 Jan 2012, 17:07.
Last edited by SajjadAhmad on 24 Jan 2019, 02:16, edited 2 times in total.
Reformatted, Highlited the text and added OAs
Manager
Joined: 18 Dec 2011
Posts: 63
Re: Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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09 Jan 2012, 18:36
1
OAs: 1. A 2. B 3. C 4. E 5. B
6. C 7. B 8. C 9. D

Plz explain why
Manager
Joined: 08 Aug 2011
Posts: 126
GPA: 3.5
Re: Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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10 Jan 2012, 05:04
Tough one!My OA's are:
1 a
2 b
3 b
4 e
5 b
6 c
7 c
8 e
9 d
I got these in 9:35.Please post the OA's.
Manager
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Posts: 70
Re: Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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10 Jan 2012, 16:14
OA:
1.a
2.b
3.c
4.e
5.b
6.c
7.b
8.c
9.d
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Re: Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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10 Jan 2012, 16:16
Goalset,
Hey you done in only 9.35secs....I have taken 15mins but stil got 3 wrong....
Any tips to improve the speed
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Re: Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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11 Jan 2012, 05:11
Saurabh,
I got 3 wrong as well in 9 mins 35 secs, I am no expert to give advise but I try my level best to understand, what ever I am reading at the first go so that I know which paragraph has what answers after I move on to the questions. Initially I used to translate some lines to my native language which I considered crucial to the paragraph later on I did not need to do so!Practice I guess is the sole answer to all RC time related problems!
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Re: Woodrow Wilson was referring to the liberal idea of the economic marke  [#permalink]

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24 Jan 2019, 02:24
Reformatted question, Highlighted the text and added OAs. Now bumped up, Explain the answers and get Kudos
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Re: Woodrow Wilson was referring to the liberal idea of the economic marke   [#permalink] 24 Jan 2019, 02:24
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