POLSCI 2J03 Lecture : 2J03 - jan 05, 2012.docx
3 Mar 2012
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What is the field: relationship to other subjects, political science and economics. Economics: the allocation of scarce resources; take what we have an distribute it to the rest of society and how to do so: management of the household. Running the household in the sense of shop aswell: moral philosophy adam smith 1700. People saw knowledge as a bundle of things you had to understand philophy astronomy economy: emergence of classical liberal economics. Economics we know today neo-classical economics; supply demand, ferms, efficiency: 1930s fascist, soviet and keynesian economics. Centrally planned state based on political decisions and economy based on this. German state in the 1930s was successful. Keynesian facilitate spending: post 1970s dominance of neoclassical economics, quantitative. Best way to allocated resources is to use the market; supply and demand: loss of economic history. Today, it is all about being a mathematician. Politics: the distribution of power: the art of governing (socrates, machiavelli, hobbes, locke)
