Reading Passage Question
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).
“Woodrow Wilson was referring to the liberal idea of the economic market”- is a GMAT reading comprehension passage with answers. Candidates need a strong knowledge of English GMAT reading comprehension.
This GMAT Reading Comprehension consists of 9 comprehension questions. The GMAT Reading Comprehension questions are designed for the purpose of testing candidates’ abilities in understanding, analyzing, and applying information or concepts. Candidates can actively prepare with the help of GMAT Reading Comprehension Practice Questions.
Solution and Explanation
Question 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
(C) challenge the integrity of traditional political leaders
(D) champion those Americans whom the author deems to be neglected
(E) suggest a substitute for the traditional metaphor of a race
Answer: A
Explanation: In the second paragraph, the author attacks the American economic system. The fallacies of American economic ideology are pointed out by phrases like "our false claims from the past."
Question 2
According to the passage, “Old World” values were based on
(A) ability
(B) property
(C) family connections
(D) guild hierarchies
(E) education
Answer: B
Explanation: According to the passage, “Old World” categories of settled possessiveness versus unsettling deprivation. The cupidity of retention versus the cupidity of seizure, a “status quo” defended or attacked. Hence property is the right answer which is option B
Question 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
Answer: C
Explanation: A great leader who can stop events in their tracks and restart them from compensatorily staggered "starting lines." It would be a powerful referee who would give them some ground in the race. Since only a judge can serve as a reliable arbitrator for the nation. hence, option C
Question 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
Answer: E
Explanation: The author is trying to say that reform in America has been sterile (i.e. unproductive). Because there was never any attempt to change the fundamental system. Which had taken hold in America, a system that the author compares to a race. Although there may have been attempts to change or enhance the event's regulations. There was never an "attempt to call off the race." In other words, altering the race's rules (i.e., changing the current system) would not lead to major change or reform. Instead, an attempt to cancel the race would be necessary to bring about actual, substantive change (i.e. embrace an entirely different system). The word "reform" is surrounded by quotation marks to emphasise the modifications to the race's regulations. Have only produced superficial reform and not basic reform, whereas the latter would represent "fundamental" reform.
Question 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
Answer: B
Explanation: According to the reading, the phrase "a piece of the action" was meant to provide an illustration of why American efforts at change are futile, which makes sense. According to the passage, these reform initiatives include permitting more participants in the event as opposed to cancelling it. In other words, they are insignificant reform initiatives that fall short in the end. And because of the failure of these changes, America is unable to bring about "profound social change."
Question 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
(C) A treadmill
(D) A gyroscope
(E) A bellows
Answer: C
Explanation: Only option C is a strong answer. It is the only alternative that discusses motion and something that can be stopped. The US economy is always in motion but has the ability to stop if necessary, just like a treadmill moves forward yet has the ability to stop.
Question 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”
(B) perpetuated traditional legends about America
(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
Answer: B
Explanation: When Woodrow Wilson stated that the free business system is the most effective economic system, he was referring to the liberal notion of the economic market. Maximum freedom results in maximum productivity; the stability of our "openness" needs to be gauged. Americans have defied the "Old World" classifications of settled because of their fascination with this ideal. The "liberal notion of the economic market" is defined as the "status quo" being assaulted, cupidity of seizure, and disturbing destitution in America. An ever-expanding wheel, opportunity (not property), and movement (not stability), with traders, entrepreneurs, and runners acting as economic change agents.
Question 8
The passage contains information that would answer which of the following questions?
- What techniques have industrialists used to manipulate a free market?
- In what ways are “New World” and “Old World” economic policies similar?
- 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
Answer: C
Explanation: We only found the third in the passage. Nowhere in the passage are any tactics described. The first paragraph's first few sentences are the only place where the old world is acknowledged; its parallels and contrasts are not further examined.
Question 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.
Answer: D
Explanation: 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.
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