Unit 1 Political and Economic Philosophy

Political philosophy

The study of the relationship between people and the government.

Tomas Hobbes

Believed in an unaccountable sovereign or monarchy. People agree to give away every right to ensure their right to live. Humans are naturally vicious and power hungry. People need the government. First to explore the social contract theory. Lived through the English Civil War.

John Locke

Wrote "Leviathan". Humans are self-interested, rational, and have the ability to reason. Anti-divine right. The government should only exist to protect the people's natural rights. Humans are naturally blank and can be good or bad. Natural rights, Limited government, Consent of the governed, Separation of power.

Jean-Jacques Rousseau

Democracy is the best form of government. People are naturally good but were corrupted by society. Rule of law, Majority rule, Consent of the governed. Individuals give up self-interest in favor of the common good.

Baron de Montesquieu

Best form of government is when it's separated among branches. Main idea is the separation of power. Safety can only exist if everyone follows the law. 3 branches to prevent tyranny. Checks and balances.

Rule of Law

Everyone is equal under the law.

Consent of the governed

The government gets its power from the people.

Limited government

Government has limited power.

Social contract

Agreement between people and government.

Majority rule

Good of the community is more important than individual interests.

Natural rights

Rights people are born with, i.e., life, liberty, and property.

Due process

A person's rights are protected by the government.

State of Nature

State without the government.

Separation of powers

Different branches with different powers that can check each other.

Divine right

Right to rule is given by God.

Adam Smith

Capitalism - Call for less government and more free market entrepreneurship. Self-interest has positive benefits. Division of labor. Theory of compensating wage differences. Free market. Wrote "The Wealth of Nations".

Karl Marx

Communism - Wealth should be shared equally among the people. Economy drives all human activities. All history is a class struggle. Power comes from owning the means of production. The evolutionary nature of history leads to a revolution for communism. The government will not exist in true communism. Wrote "The Communist Manifesto".

Laissez Faire

The government not interfering in the free market.

Invisible hand

The people decide in which direction the economy goes. The government only provides the basis.

Proletariat

The working class (The oppressed).

Bourgeoisie

The wealthy class (The oppressors).

Productivity

The measure of how efficiently resources are used to produce goods and services.

Division of labor

The specialization of tasks in a production process.

Self-interest

The selfishness of people, which is vital to the economy.

Free market

The government being less involved in the economy.

Industrial Revolution

A period of rapid industrialization, which led to significant social and economic changes.

Marxist ideology

The ideology based on the writings and theories of Karl Marx, advocating for the overthrow of capitalism and the establishment of a classless society.

Wealth of Nations

A book written by Adam Smith, advocating for capitalism and free market principles.

Communist Manifesto

A book written by Karl Marx and Friedrich Engels, calling for the overthrow of capitalism and the establishment of communism.