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Liberalism 2 - Thursday Liberalism Part Two According to...

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Thursday, October 30, 2008 Liberalism, Part Two According to Tom Paine, Government is a) A necessary evil b) Coercive c) A potential violator of natural rights d) A and B e) A, B, and C Adam Smith Smith on Capitalism: 1 -17766: Smiths Wealth of nations -is in favor of economic competition because it is fair and efficient -invisible hand: from self-interest to the public good -freedom means free trade -provides arguments for free trade, free trade benefits everyone Smith on Capitalism: 2 -believes and unrestricted free market will benefits the worst off -smith believes that free trade will promote international peace -also believes believe free markets will be conducive to order and good governments -is concerned about individuals, markets fosters self-reliance Smith on Government’s Role -defend the country against attack, there is a -the state has a role to protect the citizens and protect property right and maintain order -the state has a duty to provide public education and the infrastructure needed to do business
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