Philosophy 2730F/G Lecture Notes - Lecture 24: Invisible Hand, Egotism, Externality

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11 Apr 2018
Department
Professor
Jan 24
Market Norms Profit
Impersonality
Egoism
Exclusivity
Want regardiness
o If people want something; others will sell it
Exit rather than voice
o Media works in idea of voice
Rational: look at various possibilities (part);
**Page 52
Market:
Exchange seller and buyer
Competition supply/demand
Price is what drives competition; what might drive exchanges
Issue with monopoly
Competition among suppliers for business of consumers; what drives down prices
Economy
Capitalism amoral
Defining feature that there is a robust set of property rights
Attractive features:
1. Efficiency (best captured by notion of invisible hand)
2. autonomy
Media Norms Public Interest
Truth valuing
Objectivity
Representativeness
Public Interest
Democracy
Truth
Development of critical faculties
o Mil
Rights:
1. Non-interference (simply speaking of liberty right)
2. Diversity of perspectives (what comes along is first, is second right)
Market Failure
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