click below
click below
Normal Size Small Size show me how
Adam Smith Libertari
Adam Smith libertarian POLS 2300 UofU Midterm Review
Question | Answer |
---|---|
Purpose of Government | 1. Protect the Weak 2. Curb the Violence 3. Chastise the Guilty |
Advantages to Free Market | 1. Maximizes individual liberties, people are fre to use their individual talents toward and occupation of their own choice. 2. Meritology, success is determined by hard work. |
Invisible Hand | The idea that innate human greed drives public good. Individuals want to become wealthier and to do so they must provide a service to the community in return for wealth, wealth being a natural drive given by God which humans equivocate with happiness |
What are the implications of the Invisible Hand? | Means an increase in a communities communal happiness, thus Free Market is morally good. Also means a broader base of products and goods available. |