POL SCI 4 Lecture 21: PS4 Section 11 04.13.2017
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Department
Political Science
Course
POL SCI 4
Professor
Wendy Brown
Semester
Spring

Description
Political Science 4 Section 11 4.13.2017 Questions (1) Reconcile F-knowledge from freedom and H- centralized knowledge bad (2) Responsibility: F-only for yourself and H-neighborhood effects Keynesian - Keynes looked at the collapse of the economic system in 1929 - Why did it happen? - “Animal spirits” - people not driven by reason, but by their sensibilities and emotions - Solution: anti-cyclical spending (never really implemented) - During the depression, government pay people to work (in order to stimulate hiring and in turn buying) - But resulted in STAGFLATION - Rising unemployment and rising inflation - Overall idea that the market is fundamentally flawed FRIEDMAN - Freedom: market freedom, no concentration of power - Freedom is important because it allows progress, and economic freedom contributes to political freedom - Power is defined as coercion - Argument that economic freedom leads to political freedom is supported by - (1) economy disperses power - (2) free markets coincide with free society (historically) - Perfect market - Everyone is pricetaker - no one but the market dictates th
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