POLS 2100 Lecture Notes - Lecture 4: Amartya Sen, Plutocracy, Mercantilism
20 Mar 2016
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Document Summary
Reading on democracy and economic well-being: democracy as addressing economic deprivation, democracy (and markets) creating a plutocracy , authority creating economic growth. State is directly involved in managing the economy. Virtually all developed states have engaged in mercantilism. Contemporary examples include japan and south korea. Committed to individual liberty and to the market. Markets should be free from state interference. Power comes not from the vote but from property. Only the state can distribute resources fairly. Perspectives on political economy: amartya sen on the economic benefits of democracy in india, mark leibovich on the plutocratic nature of american democracy, mucklethwait and woolridge on the economic benefits of authoritarian government. Between 2000 and 2012, the number of billionaires in the united states doubled in size to 405; the number of americans who have fortunes larger than million has increased to 45,650!
