SDS131R Lecture Notes - Lecture 2: Physiocracy, Invisible Hand, Labour Power

• School: University of Waterloo
• Department: Social Development Studies
• Course: SDS131R
• Professor: Theresa Romkey

Document Summary

Classical liberalism: the condition of being free from restriction or control, the right a(cid:374)d po(cid:449)er to a(cid:272)t, (cid:271)elie(cid:448)e or e(cid:454)press o(cid:374)eself i(cid:374) a (cid:373)a(cid:374)(cid:374)er of o(cid:374)e(cid:859)s o(cid:449)(cid:374) choosing. Term comes from the latin ter(cid:373) (cid:858)li(cid:271)er(cid:859) (cid:373)ea(cid:374)i(cid:374)g free. Focuses on the rights of the individual and a specific role of the state. Equality is an important element in the conception of freedom. Specific definition of equality: equality of status not equality of condition. Moves us from ascribed status to achieved status. The rights of the individual are the rights to life, liberty, and property. The origin of the state is the social contact. Ideal state is democratic, subject to the rule of law, and a night watchman state. Violence is rejected except in the case of rebellion. People give up some sovereignty to a government or other authority in order to receive or maintain social order through the rule of law.