Political Science 1020E Lecture Notes - Lecture 11: Tomato Juice, Marginal Utility, Distributive Justice
13 Oct 2016
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Document Summary
Money transforms human relationships, commodifying and degrading them. In actual history, it is a notorious fact that conquest, enslavement, robbery, murder, in short, force, play the greatest part. Owners of resources have (limited) rights to determine what to do with them. Cluster of rights: possess (exclude others), use, sell, give away, destroy. Choose the distribution that maximizes happiness, well-being, or utility. Diminishing marginal utility suggests that goods should be distributed equally. Basic rights include the right to private property. Richest 5% = one third of global income. Poorest 80% = one third of global income. 1. 4 billion people live on less than . 25 (us) per day. The world"s richest 1% have more wealth than the other 99% The richest 62 people in the world have as much wealth as the poorest half of the world"s population. The fruits of the earth belong to us all. Nozick"s three types of principles in a theory of property rights.
