LGST 101 Lecture Notes - Lecture 2: Comparative Advantage, Selfishness, Absolute Advantage
6 Dec 2016
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End of 17th century: context intellectual origins of capitalism -enclosure: we would distribute the common lands of each village among the people that had a right to the. Agriculture + efficient =agricultural output increases/more efficient use of lands. God gave the world to the whole humanity=to the common. If we touch/mix it with something that is common, it becomes our private property. I can sell a kidney as long as i know/i am conscious of the effects of not having a kidney. Be(cid:272)ause the servant is an exte(cid:374)sio(cid:374) of the (cid:373)aste(cid:396)"s pe(cid:396)so(cid:374)a. Thei(cid:396) (cid:448)alue lies i(cid:374) the (cid:272)o(cid:374)se(cid:374)t a(cid:374)d t(cid:396)ust of people. Money allows people to overproduce and keep the extra-products from rotting. John locke was the founder of private property. You should only acquire as much as you can make use of: productivity is the most important. Private property ensures greater productivity for all mankind adam smith.
