Political Science 1020E Lecture Notes - Lecture 11: Eaves, Marginal Utility, Industrial Revolution
25 Nov 2014
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Video comparing life expectancy to income (1810, everyone is sick and poor) Industrial revolution increase in wealth to europe and america, increase in life expectancy, some countries move up following wwii. 1948 former colonies getting healthier, economies growing (india, china), come still poor (civil war) Gap closing between the west and the rest, everyone is moving towards healthy and wealthy . In actual history, it is a notorious fact that conquest, enslavement, robbery, murder, in short, force, play the greatest part. karl marx capital vol. 1. What are property rights: owners of resources have limited rights to determine what to do with them, objects, land, buildings, factories, cluster of rights: possess (exclude others), use, sell, give away, destroy. What justifies a system of property rights: promoting utility, promoting natural rights, securing freedom, ensuring equality. Utilitarianism: choose the distribution that maximizes happiness, well-being, or utility.
