Political Science 2237E Lecture Notes - Lecture 16: Market Failure, Capitalism, Labour Power
22 Dec 2020
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Adam smith: moral sentiments & capitalist economics ---- exam. Shows how liberty can be fit into material welfare. Left wing view of smith portrays him as terrible, immoral, capitalist jerk who wants wealth all to himself. Right wing view of smith suggests that everything he says about markets is possible & that only good things can emerge out of free enterprise. Capitalism didn"t exist when smith was alive; they used capital. He was enchanted with think that he could have a superior life. He pursues wealth & riches: wealth & greatness is trinkets. Character traits: the good & the bad. We shouldn"t prefer the traits of the rich, as those people"s eyes are bigger than their stomachs. Shouldn"t prefer the traits as those who envy the rich as they waste their life envying them rather than bettering themselves. List of personality traits that he thinks help served people better in life: prudent, equitable, active, resolute, of sober character.
