POLI 243 Lecture Notes - Lecture 3: Classical Liberalism

25 views2 pages
Published on 19 Apr 2013
School
McGill University
Department
Political Science
Course
POLI 243
Professor
11/01/13
Lecture 3: Liberalism
last 20 yrs: liberalism dominant, esp in IPE
before (60s & 70s): structural realism dominant
Assuming Rational Action
assumption made by all paradigms
actions are purposive
actors have perfect info rarely happens that actors have all info
actors know their preferences & can rank them
actors know all possible options, incl their conseq
actors calculate the costs & benefits associated w each option
Liberalism’s Origins
critics of mercantilism in late 18th cent
monarch taxed ^ trade collected tariff as goods crossed border
Adam Smith wrote The Wealth of Ntns criticized Brit mercantilism
Smith understands need for $ collected from tariff & milit expansion
Smith’s criticism: definition of wealth (gold & silver) said wealth = what
society can consume (goods & services)
o you’re not better off by hoarding $ & not spending on goods & serv.
o trade society wealthier get goods you otherwise wouldn’t have
o mercantilism = some people got special deals, unfair, taking away
people’s choice over econ policy
o mercantilism: econ control of markets thru colonialism/monopolies
for expensive goods like tea (little consumer choice)
David Ricardo made formal arguments
Reasons for Birth of Liberalism (1830s & 1840s)
British colonies revolting Brit must re-think mercantilism
Brit undergoing industrialization
Brit adopts classical liberal policies internally & externally in early 19th cent
success for Brit ^ in power during 19th cent
Assumptions of Classical Liberalism
1. individuals are the primary actors
2. individuals are rational, unitary actors (easier to assume than to assume
society as whole is rational & unitary)
3. individuals maximize utility (individuals choose what they want)
4. everything can be traded
5. individual indifference curves can be summed into societal indifference
curves (imp for leap from individuals to state policy)
don’t know what individuals want, so let them to pursue their own choices
Unlock document

This preview shows half of the first page of the document.
Unlock all 2 pages and 3 million more documents.

Already have an account? Log in

Document Summary

Lecture 3: liberalism last 20 yrs: liberalism dominant, esp in ipe. Before (60s & 70s): structural realism dominant. Actors have perfect info rarely happens that actors have all info. Actors know their preferences & can rank them. Actors know all possible options, incl their conseq. Actors calculate the costs & benefits associated w each option. Critics of mercantilism in late 18th cent. Monarch taxed ^ trade collected tariff as goods crossed border. Adam smith wrote the wealth of ntns criticized brit mercantilism. Smith understands need for $ collected from tariff & milit expansion. Reasons for birth of liberalism (1830s & 1840s) British colonies revolting brit must re-think mercantilism. Brit adopts classical liberal policies internally & externally in early 19th cent. Success for brit ^ in power during 19th cent. Don"t know what individuals want, so let them to pursue their own choices. Some focus on role of individuals, some on role of states. All focus on exchange & mutual benefits.

Get OneClass Grade+

Unlimited access to all notes and study guides.

YearlyMost Popular
75% OFF
$9.98/m
Monthly
$39.98/m
Single doc
$39.98

or

You will be charged $119.76 upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.