POLSCI 1AA3 Lecture Notes - Lecture 3: Free Rider Problem, Welfare, Market Failure
15 Oct 2017
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Document Summary
De nition: liberalism from liber meaning free , liberalism concerned above all else with freedom and how to secure it, individual freedom is the starting point for any justi cation of the state. Note: individual freedom and democracy can con ict with each other. Political liberalism: classical liberalism: 17th - 19th century. Government is in place to protect our rights and protect our freedoms. For classical liberalism legitimate political rule starts from the principle of individual freedom. Government might be required, rule might be necessary, but only for speci c purposes: to protect freedom, meaning life, liberty, possessions . People aren"t willing to use money to pay for the lighthouse because it"s better for the individual to save money yet still have the lighthouse built. You can"t make further money from the lighthouse so the people that didn"t contribute can still use it without missing out and are essentially free riding public goods.
