Unit One Flashcards
What is Private Property?
Ex.?
Right of USE Right of DISPOSIAL Right to INCOME If an individual owns something they should be able to make money off of it. Ex: Uber
What is Rule of Law?
Ex?
- Everyone is subject to the law.
- The law sees everyone equally, if 2 people commit the same law they should get the same punishment.
- Laws are clearly defined rather then made up by a higher power on a day by day basis.
Ex of Exceptions: Kings, Celebrities, etc.
What is Individual Rights and Freedoms?
Ex.?
Right to…
What is Competition and Self-Interest?
- Decisions should be made free of gov. control.
- Individuals can best achieve their goals when allowed to compete for their own self-interest.
Competition
-competition and profit motivate individuals to finds the most efficient and innovative methods of production.
Ex: Apple
Self-Interest
-Laizzes Fair Economics
•hands off policy
•gov. don’t touch economic decisions
What is Economic Freedom?
Ex.?
Freedom to buy what one wants and to sell labour, ideas or products to whomever one wishes. Ex. Freedom of... -Trade -Regulation -Property
6 Principles of Collectivism?
PRINCE
Public Property
Collective Responsibility
Collective Interests
Collective Norms
Cooperation
Economic EqualityWhat is Public Property?
Ex.?
Land, capital, industries, etc., that are owned by the state and managed according to the interests of the collective.
-maintained by public money through taxes.
Ex: hospitals, police stations, etc.
What is Collective Responsibility?
Ex.?
Hold a whole group responsible for the actions of individuals.
-can be used as a form of punishment
Ex: A whole family or community is punished because a individual member spoke out against the gov.
What is Collective Interest?
Ex.?
A set of interests that a group has in common. Ex: 1. Labour Union -wrongful dismissal 2. Human Rights groups -freedom from torture 3. Social Programs -public Edication 4. Lobby Groups -anti-tobacco
What is Collective Norms?
Ex.?
Standards that are imposed in a collective society as a condition of membership in that society.
-relate to values, conditions, conduct and appearance.
Ex: Some religions and man and woman can’t live together without being married.
What is Cooperation?
Ex.?
Necessary for survival.
Ensures that members achieve better results more efficiently.
-not always consensual
Ex. Jury-Duty
6 Principles of Individualism
PRICES
Private Property Rule of Law Individual Rights and Freedoms Competition Economic Freedom Self-Interest
Robert Hobbes Nature of humans? View of Individual? View of gov.? Collectivist or Individualist?
-Humans are characterized by fear, violence and dangerous self-interest.
-If everyone is free then everyone is in danger.
-Security is more important then freedom
•strong central gov.
-Collectivist
What is Economic Equality?
Ex.?
Everyone is equal when it comes to money.
Ex.
-earn more money = more taxes
-equal wages
-gaurenteed annual income
-all people share in wealth of country or world
-people own the means of production collectively
-no private property, all things should be free
John Locke Nature of humans? View of Individual? View of gov.? Collectivist or Individualist?
-Humans are rational, intelligent and reasonable.
-Source of power was people themselves and not divine right.
-Gov. needs to protect life, liberty and property
•Representative Government
-Individualist
