History 1803E Lecture Notes - Theocracy, Mercantilism, Individualism
15 Nov 2012
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Document Summary
Embrace of market for vehicle of distribution of goods. Dependence of market place to solve distribution and access to resources. Born out of the enlightenment, product of this thinking, thomas. Jefferson, ben franklin, james madison inherent individual rights, natural rights separate from the state. Big step backwards today, more religious, theocracy not secular. Can"t be elected unless you area attached to a religion but then say they are a secular state that separates church from state. Stuck in antiqued commercial system, decline if it cant change to free trade. Entrepreneurial spirit, market place decided for itself. Politicians hurting economy, limit growth, limit equitable distribution of goods. Allows for redistribution of wealth to everyone. Arguing selfishness in business is necessary to ensure public good and thus central to a functional market. Laissez-faire: the state shouldn"t interfere with the market. Hidden-hand: the market will determine supply and demand. Believed in state power to guide economy.
