SOSC 1000 Lecture Notes - Lecture 5: Marilyn Waring, Keynesian Economics, Creative Destruction

• School: York University
• Department: Social Science
• Course: SOSC 1000
• Professor: Terry Conlin

Document Summary

Smith and keynes: oct. 27 & nov. 3. Lecture 5: an insatiable, dynamic, diembedded two-edged sword, conservatism, feudalism, & aristocracy,, versus liberalism, capitalism, & the. Bourgeoisie: adam smith, mercantilism & the wealth of nations, the society of perfect (economic) liberty & the disembedded, self-correcting. Free market economy: the keynesian challenge to orthodoxy, the keynesian welfare state, the attack on keynesianism (right & left, marilyn waring versus economic orthodoxy. Aristotle on politics believed that human beings by nature were animals intended to live in a political society men are by nature political animals. Gnp = c + i + g + ( Smith puts emphasis on supply, on the production of goods and service. Says law supply creates demand he argues. Negative liberty the economics of classical liberal ideology freedom from coercion; people who can provide wealth should be free to do so positive liberty equality of opportunity.