SOC 2080 Lecture : SOC 2080 Feb.28.docx

• School: University of Guelph
• Department: Sociology
• Course: SOC 2080
• Professor: Anthony Winson

Document Summary

Reduction of barriers to movement of capital and trading of goods. Moving the state out of the economy-privatising all public enterprises [markets are the best mechanism for solving these problems] Having all economic transactions governed by market mechanisms . Reducing/eliminating all barriers to free market forces i. e. labour unions, minimum wage policies, government subsidies. Market is best mechanism for allocation of societal resources. Interference in the market i. e. by government, creates inefficiencies which cost society. Eliminating trade barriers w/free trade agreements stimulates business rising tides lifts all boats i. e. we all supposedly benefit. >inefficient and uncompetitive-must be let go so better allocation of resources can be achieved for wider economy i. e. more benefit for the loss in the long run. Most benefit via lower prices when lowest cost producers dominate. What canadian critics say the neo-liberal argument overlooks: The free market is neither free nor natural . Freedom is meaningless in presence of great concentrations of economic power.