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Lecture 4

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Department
Political Science
Course
POL208Y1
Professor
Arnd Jurgensen
Semester
Winter

Description
Lecture 4 Rights exist independent of power Progress is possible Immanuel Kant in his essay The Perpetual Peace rejects the separation between the moral imperative and the political realm Machiavelli According to him following self interests will lead to a perpetual peace in the vast grave that swallows both the atrocities and their perpetrators There is unavoidable historical progress towards world federation but we have the obligation as rational human beings to speed the process To reach peace the civil constitution of every state should be republican and a world federation should be established Economic and social interaction across borders should be encouraged modern reading of the Kantian Peace democracy trade intl organization States should migrate from authoritarianism to democracy Adam Smith most well known for The Wealth of Nations 1776 What makes countries rich and poor What determines the wealth of nations At this time the main economic thought was mercantilism He stated that the amount of gold is nonsense to determine wealth but therefore it should be measured by its ability to produce and consume that should measure the standard of living of their citizens and that is what makes a nation wealthy The crucial factor that determines the wealth of nations is the extent of their division of labour a country in which each household has to produce everything they need for survival ought to be a poor country Specialization creates efficiencies and efficiencies produces greater output therefore more wealth Societies that specialize their tasks and need between their people are likely to be more efficient than societies where each household does everything Markets in his time worked under tight control they werenft free market they were controlled by the political authorities and the king determined the price for everything and the interest rates qualities production
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