Review - *if an interest group wants to seek influence on...

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*if an interest group wants to seek influence on the bill, they should do so before the first draft of the Bill. o a means to promote regional development o A policy instrument of the government Adam Smith (1723-1790): (classical liberalism) the first academic economist and founder of the discipline of economics and the author of The Wealth of Nations. For Smith, human conduct is articulated by six motives: self love, sympathy, desire to be free, sense of propriety, habit of labour and propensity to truck barter and exchange. From this concept, human has its own self-interest and if he/she allowed to puruse it, he will contribute unwittingly to the common good. In process of pursuit self-interest, each one is led by an invisible hand. The invisible hand is a market guided by the force of demand and supply. Exchange makes possible the simultaneous satifaction of individual interest and, therefore, there must be no obstacles to trade, which serves to maximize the advantage of division of labour and specialization (productivity) (trade theory). Economic freedom and competition must, therefore, be made to prevail. The consequence of this belief is the defined role of the government. Government is best which governs least (laissez-faire). The function of government should limit to: (a) defence against foreign aggression, (b) exact administration of justice, and (c) undertaking public works that are not profitable to private enterprise. (economic liberalism or Laissez-faire capitalism) State: ppl lving in a specific territory under a common legal and political authority. Sovereignty: is the monopoly of coercive power wielded by the state, exercised by government as the agent of the state. Constitutionalsim: a government is limited and restrained by checks and balances, including the assertion of political rights and freedom. Classical Liberalism: took its characteristics form during 18 th and 19 th centuries, and gave ideological expression to the profound changes—social, economic, and political—engendered by the Industrial revolution. It grew out the dissatisfaction on the part of new and energetic middle classes with a social order that frustrated the achievement of their own social agenda. They wanted an environment for free production and free trade. They wanted peace, order over areas large enough to accommodate expanding trade. They wanted social institutions that would dispense with an obsolete and hierarchial structure and a political voice commensurate with the growing economic clouts, particulary in determining what social services should be provided by the state and how much they would cost. Value of a society is measured by the satisfaction of the individual. Anti dumping:
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Review - *if an interest group wants to seek influence on...

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