Liberalism Pt. 2

What does Adam Smith write in response to

Protectionist practices

What are Adam Smith’s main concerns

Market creation and participation

What are rights of the individual according to Adam Smith

The ability to specialize, participation in a market

What is the job of the government according to Adam Smith

Regulating markets, protecting individuals’ rights, creating a market

What does Milton Friedman write in response to

Market regulation developments

What are Milton Friedman’s main concerns

Market and neighborhood effects

What does Milton Friedman believe about economic and political freedoms

They are linked

What is Milton Friedman’s view on elections

Help solve invisible policy problems

Invisible policy problems

Issues where you can’t evenly divide up the problems to make everyone happy

What is Milton Friedman’s view on government related to economics

Government intrusion in free economic exercise should be limited

Neighborhood effects

What individuals/groups/companies do that can affect others in positive or negative ways

Negative neighborhood effects

Pollution, land fills

Positive neighborhood effects

Economic location(s)

What was the Articles of Confederation (AOC)

First US governing document, had powers but no means of enforcement

What was the purpose of the constitutional convention

Founders wrestled with how to combine strong national government with protections of individual liberty

What were the main cleavages in the convention

Strength in national government, representation in the legislature, slavery

What are features of the US Constitution

President as head of executive branch, bicameral legislature, independent judicial branch

What is the Bill of Rights

First 10 amendments

What is the purpose of the Bill of Rights

Addressed complaints that constiution did not protect individual rights

What is the first amendment

Freedom to free speech and religious practices

What is the second amendment

Right to bear arms with a well-regulated militia

What is the third amendment

No soldier in time of peace and war shall be housed without consent of the owner

What is the fourth amendment

The right to deny unreasonable searches and seizures of property unless there is a valid warrent

What is the fifth amendment

Grand jury for capital crime, no double jeopardy, no self-incrimination, due process of law, no seizing of property without compensation

What is the sixth amendment

Speedy and public trial, impartial jury of state and district (court of “peers”), must be informed of nature of crime, confront witnesses, assistance of counsel for defense

What is the seventh amendment

Trial by jury, common law

What is the eight amendment

Excessive bail and fines shall be imposed, nor cruel and unusual punishments inflicted

What is the ninth amendment

Cannot deny a person of their constitutional rights

What is the tenth amendment

Powers not delegated by the constitution are reserved to the states or to the people