Political Science 1020E Lecture Notes - Lecture 16: Harm Principle, Negative Liberty, Positive Liberty

• School: Western University
• Department: Political Science
• Course: Political Science 1020E
• Professor: Charles Jones

Document Summary

Question: some defenders of democracy claim that no democratic country has ever suffered from. In order to fight against economic protectionist tradition (mercantilism) we must push for new economic policies in britain. Remove regulations, leave people to trade freely in the market. The public good is best promoted when people pursue individual interests. Adam smith on capitalism 1: 1(cid:889)14, mandeville(cid:495)s fable of the bees. (cid:494)private vices generate public benefits(cid:495: physiocrats (cid:523)rule of nature(cid:524) - laissez faire, 1(cid:889)(cid:889)(cid:888) smith(cid:495)s wealth of nations. A nation(cid:495)s wealth lies in production, skills, work, labour: competition is fair and efficient, invisible hand: from self interest to the public good, free trade benefits everyone, benefits the worst off. Remove restrictions on trade: better products, cheaper prices. Reduces individual worker to a machine, deadening capacities as a human being. What matters are the effects and consequences, which are often not as intended.