SOCI 201 Chapter Notes - Chapter 7: Harold Cardinal, Unemployment Benefits, Bowling League
5 Mar 2018
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You could argue that modern sociology evolved from the work of 18th century economists such as adam smith and thomas malthus. Smith was an early proponent of laissez-faire economics, the idea that governments should not try to manage or interfere in the so-called free market. To those who believe in laissez-faire economics, (cid:1688)interference(cid:1689) does not include the financial incentives and tax benefits that governments pay to big businesses; that kind of interference is okay. To critics of laissez-faire economics, there is no such things as a (cid:1688)free(cid:1689) market when it is dominated by corporations with near-monopolistic power. Smith was optimistic that a market free of government interference would raise standards of living for everyone, though he might have agreed with the idea that there will always be at least some (cid:1688)poor in the land(cid:1689) Malthus wasn"t nearly as optimistic about the chances of the poor.
