Political Science 1020E Lecture Notes - Lecture 2: Proletariat, State Socialism, Market Socialism
7 Nov 2017
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According to max weber, the state claims a monopoly of: legitimacy, sovereignty, community, coercion, corruption. Economy embedded" (within a broader society, many other factors influence outcome of the economy) With spread and strengthening of markets beginning 18th century. Explored implications for politics and society (adam smith and david ricardo, karl marx and friedrich engels) Markets not natural (artificial, created by and for humans therefore we can regulate them) State formation inspired state intervention in markets: of state centered economy. Mercantilism: national wealth and power (point of state is to increase wealth) (build strong companies to compete with other states) Protectionism: beggar thy neighbour states put high taxes/tariffs on imports to increase local businesses. Developmental states: neo-mercantilism, return to 16th century european ways. Much less political (state is seen as a later contributor) Eager to offer market man" as general model. Great communicators (fundamentally a source of information about. Best left alone (laissez-faire, leave the market to work on its own)
