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Example research essay topic: John Maynard Keynes Law Of Nature - 1,904 words

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Ideology and politics The purpose of this paper is to treat the similarly and differences of liberalism. Iwill use John Locke and Adam Smith to represent classical liberals. John Stuart Mill and John Maynard Keynes will be used to show contemporary liberals. John Locke In John Locke s Second Treatise of Government he develops a theory of government as a product of a social contract, which when broken justifies the creation ofa new government for the protection of life, liberty and property.

He begins his argument developing a theory of the state of nature which ichat state all men are naturally in, and that is, a state of perfect freedom order their actions and dispose of their possessions and persons as they think fit, within the bounds of the law of nature, without asking leave or depending upon the will of any other man. 1 The state of nature includes the law of nature to govern it, which obliges everyone; and reason, which is that law, teaches all mankind who will but consult it 2 The state nature also includes inequality since gold and silver, being little useful to the life of a man in proportion food, raiment, and carriage, has its value only from the consent of men, whereof labour yet makes, in great part, the measure, it is plain that menace agreed to a disproportional and unequal possession of the earth. 3 In Locke s state on nature there are also three distinct problems. First there is no established settled known law. As each man consults his own law of nature he receives a slightly different interpretation. Secondly there no known and indifferent judge. Which creates the problem of trying to decide which is the correct law of nature which will be followed in an impartial manor. Thirdly there is insufficient force of execution.

This is the problem of how to carry outre decision of the law of nature on another when he has a different interpretation or doesn t consult the law of nature. Locke states that the three problems in the state of nature would be best solved becoming together to form a new government to protect there property. The great and chief end therefore, of men s coming into commonwealths, and putting themselves under government, is the preservation of their property 4 And goes further into what this new government should be empowered to dofirstlyestablished, settled known law, received and allowed by common consent to be the standard of right and wrong, and the common measure to decide all controversies between themsecondlythere wants a known and indifferent judge, with authority to determine all differences according tothe established lawthirdlyThere often wants power to back and support the sentence when right, and to give it due execution. They who by any injustice offend, will seldom fail, where they are able, by force to make good their injustice 5 In Locke s government men only give up the right to the above mentioned things, to create the law for themselves, to judge the law for themselves, and to execute the labor themselves. These are the only rights that the government has the right to interfere ina's it is the only reason that people entered into a commonwealth. Locke also explains there social contract that the new government should operate under.

The first point of the contract is that the people agree to form a body politic, in which the majority rule. Second the body politic selects a government of the day. (elects people on a regular basis the government to legislate the law) Locke laid out who should be allowed the right to vote, who shouldn t be allowed to vote and gives his reason why. all men as members for the purposes of being ruled and only men of estate as members for the prepossess of ruling. The right to rule (more accurately, the right to control any government) is given to the men of estate only: it inthe who are given the decisive voice about taxation, without which no government can subsist. On the other hand, the obligation to be bound by land subject to the lawful government is fixed on all men whether or not they have property in the sense of estate, and indeed whether or not they have made express compact. 6 Johns Stuart Mill There is no difficulty in showing that the ideally best form of government is that which the sovereignty, or supreme controlling power in the last resort, invested in the entire aggregate of the community. 7 It is with this statement that Mill begins his augment in The Ideally Best Polityshowing his believe in Locke s democracy but saying that all people could be best served by the government if everyone could vote. As this is the only way the government learns what it needs to know in order to govern.

He comes to this concussion by saying that participatory democracy is the best answer to the two questions that he poses as to what makes a good government. namely how far it promotes the good management of the affairs of society by means of the existing faculties, moral, intellectual, and active, of its various members, and what effect in improving or deteriorating those faculties. 8 Mill believes that it is necessary to expand the role of government not only to protect the people from the government but to promote liberty by putting limits on whitman be expressed as public opinion against a minority, and to involve people in the government so as to give them stimulation and help them develop. In Mill s writings he also discuses the idea of liberty and what limits government and public opinion should have on interfering with a individuals liberty. the only purpose for which power can be rightfully exercised over any member of a civilized community, against his will, is to prevent harm tooters.

His own good, either physical or moral, is not a sufficient warrant. 9 Differences Between Locke and Mill Although Locke and Mill both believe in government by and for the governed there chief difference is in the idea of who the government is for. Where Locke believes that the purpose of government is to protect property, there for if you did not have property you didn t have anything to protect and shouldn t have a voice in the government. Mill believes in an participatory democracy in which everyone should have the right to vote as it is a way of bettering society as a whole and making sure that everyone s interests are consulted. They also differ on the role the government should play in the lives of the governed. Locke advocates a government which doesn t have any power to interfere in the lives of the governed out side of protecting their property. Where Mill would like to see a government which attempts to better the lives that it governs and protect them form the tyranny of the majority.

Adam Smith In 1776 Adam Smith published a book titled The Wealth of Nations in which he recorded his ideas on the way the money and the economy worked. He had came tome important concussions about how the market worked which went hand in hand witchy the government shouldn t interfere in its workings. There are three main points in his idea of capitalism the first was self interest drive to maximize income concluding the best possible bargain onthe marketplace into which everyone ventured, either to sell his or her labor power or other resources, or to purchase goods. 10 Second competition would act as a regulator For each man, out to do the best for himself with no thought of others, is faced with a host of similarly motivated individuals who are in exactly these position. Each is only too eager to take advantage of his competitor street if it urges him to raise his price above the level set by the market. 11 Thirdly the idea of supply and demand would automatically regulate what is produced, the quantity produced, quality of goods, and increase efficiency in the production process.

the changing desires of society lead producers to increase production of wanted goods and to diminish the production of goods that are no longer as highly desired. 12 John Maynard Keynes While Keynes agreed with Adam Smith on the way the market place works honored that the wealth of an economy depends on the amount of money flowing and there at which it flows. This means that the market place was prone to certain types of macro economic illness. These illnesses are First, that an economy in depression might well stay there; there was nothing inherent in the situation to pull it out. Second, that prosperity depended on investment; for if savings were not put to use, the dread spiral of contraction began. And third, that investment was an undependable drive wheel for the economy thread with satiety, and satiety spelled economic shrinkage. 13 Keynes reasoned that investment could not be directly stimulated, why then, at least consumption could. For while investment was the capricious elements the system, consumption provided the great floor of economic activity 14 He looked to the government to maintain the macro economy.

Saying that if consumption could be controlled in a way to heat up the economy when it is running command cool it down when it is running hot. This was to be done through the policies of monetary control, mainly centered in the Federal Reserve banking system. By easing or tightening the reserve requirements that all banks had to maintain behind their deposits, the Federal Reserve was able to encourage or discourage lending, the source of much economic activity. In addition, by buying or selling government bonds, the Federal Reserve was able to makethe whole banking system relatively flush with funds when these were needed, or relatively short of funds when money seemed in excess supply. second was tax adjustment By raising or lowering taxes, particularly income taxes, the government could quickly increase or diminish this broad flow of purchasing power. third was the federal budget In inflationary times, a budget surplus would sere to mop up part of the inflationary purchasing flow.

In depressed times, a budget deficit (covered by borrowing) was a mechanism for generating a desired increase in that flow. 15 Similarities common to liberals Classical liberals held the believes that the government should be for thoughts who were governed and held property. Inaddision that the governments only role should to protect peoples property and shouldn t interfere in any other part of peoples lives. Contemporary liberals believe that the government should take a much more active role in the lives of the governed both to better society and to protect it form fluctuations of the business cycle. All liberals believe that government should be held responsible to the governed to serve there secular purposes. That capitalism is the corner stone of the free market society and that the government should not directly interfere in the micro economy.

And lastly in individualism that we are all free, rational, equal, act only according to our own consent, and have a right to voluntary association. Concussion In drawing this brief account of the liberal-democratic analysis of equality toa concussion we are properly struck by the significant distance which separates the contemporary, revisions idea from that of its classical predecessors. 16 332


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