POL201Y1 Lecture Notes - John Maynard Keynes, Washington Consensus, Classical Liberalism
Document Summary
This week; neo liberalism- as a global order and strategy. The difference between left and righ liberalism and neoliberalism. Liberalism is the belief in individual freedom, but practically and politically it may lead to different types of commitment. People are naturally free and the fear is the governemnt interference. Modern liberalism believe that freedom is not pre-exsisting but instead needs to be produced; under conditions of inequlity- freedom is unequally distributed. wealthy people have more freedom than poor people- who only have freedom to starve. Their primary goal is to produce freedom not to just secure it because as the classics believe freedom is pre-exsisting . Moderns endorse the idea that the state is able to produce freedom. Adam smith; advaced the theory that individuals could structure both moral and economic life without state intervention. 1759- theory of human motivation- human self interest would produce the market spontanously- unregualted state- insivilbe hand.