ECON 334 Lecture Notes - Lecture 6: Standing Army, Thomas Piketty
24 Jun 2019
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What should the state do: parish schools, little schools for the common people. How does the state benefit from an educated populace: enables better decision making by citizens, people can better understand benefits of society, less prone to falling into mob rule. Proponent of free markets, but shows sympathy for labourers: concern over their mental well-being, concern over their position relative to employers. Every action (private and gov"t) should judged based on whether it improves or diminishes happiness of interested parties, whether individuals or community at large. A thing is in the interest of individual when it tends to add to his pleasures or diminish his pains. Actions that comply with principle of utility can be said to either be right, thus ought to be done, or at least that is it not wrong and not ought not to be done. Humans tend naturally to adopt this principle.
