Political Science 1020E Lecture Notes - Richard Posner, Covenant Society, Industrial Revolution
4 Jul 2013
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According to jones" lecture, smith argues that capitalism: will lead to the disappearance of states, benefits the worst off, promotes disorder, fosters dependency. Leaving people alone to find out how to promote their own happiness: neoclassical liberal perspective, expanding voting rights. John stuart mill: threat of public opinion, tyranny of the majority, from laissez-faire to socialism, thought that socialist arrangements was the best way to promote individual freedom of action. Social evolution: believes that society has been and will continue to evolve. Absolute property rights: individual freedom means that each of us should possess certain rights that shouldn"t be constrained in any way by the state. Those who succeed in the free economy deserve to survive. Why no state"s aid to the poor: they are unfit to survive, society is too complex to be controlled in the way government want, shouldn"t override property rights. Promoting individual freedom but state should be minimalistic.
