Ethics and the Market: Locke Flashcards
Under Locke’s views, what are the two key “natural” rights?
Liberty and Property
Free markets further these interest
- Enable each person to voluntarily exchange goods without government interference
- Enable each person to decide what will be done with his/her property without government interference
State of nature: Where would we be if we had no government?
Equal and free of all constraints except those found in the law of nature
What is law of nature
God-given moral principles that can be discovered through reason; rights are “natural” and do not come from the government
What keys points to own property rights?
Labor and bundle of rights
_____ is acquired when a person expends labor and effort to create or improve an item
Property
_____: right to use, consume, sell, dispose of, give, change, etc., and right to exclude others from using
Bundle of rights
_____ emerges to protect natural rights of liberty and property
Government
The government can or cannot interfere to protect natural rights
They can
What philosophy heavily influenced the Constitution?
Locke
_____ governmental interference with individuals’ liberty and property rights
Minimal
Individuals should ____ choose how to use their property
freely
The free market encourages the exchange of ___
property
What are the criticisms of Locke?
Where did Locke come up with these “natural rights” anyway?
What about positive rights?
What about fair distribution of benefits and burdens (Justice)?
