POL201Y1 Lecture Notes - Lecture 8: Invisible Hand, Ministry Of International Trade And Industry, Profit Motive
12 Dec 2013
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Supply will rise and fall to meet demand. Supply follows demand: be careful not to overstate the degree to which the market is independent to state intervention, state intervention. To ensure a supply of capital: the state does not drive the market but creates background. 08/09 do we let the market deal with it or let the state intervene (the global financial crisis) Market: let the companies go bankrupt, state cannot intervene to rescue companies that will go bankrupt. General agreement that state should intervene minimally. 08 how much state intervention is required in the market. Explicit the difference between ideologies of market intervention by the government/state. Left markets should be guided regulated (think the state is guided by the public interest) (market driven by the profit want market to be driven by something/someone who has the public interest in minf)
