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Unformatted text preview: 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 Governments 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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