gov 312L, 02.11.08

gov 312L, 02.11.08 - 02/11/08 The 1st world countries were...

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02/11/08 The 1 st world countries were advancing toward more state interventionism for about 100 yrs until 1975 (away from liberal democ. and toward social democ.) But since 1975, they have been moving in the other direction What about the U.S. made it move much less toward social democracy than other countries? LIBERAL DEMOCRACY IN THE U.S. –IV 7) Why only limited state intervention and Welfare state in the U.S.? 1. The need for some state intervention in modern capitalism a. Market imperfections i. The market (for economic liberals) is an instrument for bringing the self-interest of everybody together and producing benefits for society but ii. It does not take care of environmental protection 1. Things that are produced by the market, but not directly, externally b. Government intervention as a corrective i. The market can have negative consequences, (ie pollution of the environment) so the gov’t has to regulate it so it doesn’t get out’ve control ii. Oligopoly: a few competitors dominating the market
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This note was uploaded on 03/19/2008 for the course GOV 312L taught by Professor Madrid during the Spring '07 term at University of Texas.

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gov 312L, 02.11.08 - 02/11/08 The 1st world countries were...

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