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Liberalism

Classical Economists

Malthus

WORK

Essay on the Principles of Population

THEORY

food increased arithmetically

population increased geometrically

breed world into starvation

effects

due to population increase wages and demand for labor lower

lead to misery and vice

solution

moral restraint

aka stop having babies

how nature helped

war, famine, and disease would help food catch up to growing population

Ricardo

WORK

Principles of

Political Economy

THEORY

Iron Law of Wages

brought labor and wages

under Malthusian formula

economic pie:

pie not fixed

but rent takes up the most and will increase over time

Utilitarians

Bentham

WORK

Principles of Moral and Legislation

THEORY

utility

greatest good for greatest number of people

ROLE OF GOVERNMENT

"passive policeman" the majority of the time

"active policeman" in protection of people

Socialism

Saint-Simon

PERSONAL

HISTORY

fought in American revolution

ROLE OF GOV

supreme authority in Parliament of Improvements

IDEAS

society required rational management

management of wealth would alleviate poverty

organization, harmony, and industry

needed in coordination

also:

followers promoted building of the Suez Canal

PERSONAL HISTORY

worked in cotton factory

improved the conditions of the workers

tried to set up the colony of New Haven

IDEA

if people were in the correct surroundings their character would improve

supported the creation of a Grand National Union

Fourier

PROBLEM

boredom of industrial society

SOLUTIONS

live in phalanxes

(liberated agrarian living, free sexual activity, marriage later in life)

WHY?

humans are attracted to one another/ things

by l'attraction passionanelle

this is the force holding society together

foolish but good ideas:

higher pay for dangerous/distasteful jobs

most of profits to workers, then management, then investors

Blanc

WORK

Organization of Labor

IDEA

government should finance social workshops

end of competition, would ensure jobs

Christian

Socialists

  • Church should have a role in ending social abuse
  • key figure- Charles Kingsley
  • private philanthropy and brotherly love to combat competition and exploitation

Anarchism

Blanqui

advocated the overthrow of the government by a professional vanguard

foreshadowed Lenin

Proudhon

WORK

What is Property?

IDEA

mutualism

(society function by small businesses cooperating based on recognition of labor required)

Bakunin

founding father of anarchism

2 CLASSES:

1. commoners - not conscious of self, instinct to rebel

2. oppressors - conscious of self and power

will not rebel unless:

  • hatred for conditions
  • belief change is possible
  • have vision of future society

Kropotkin

WORK

The Conquest of Bread

IDEA

must seize control of economic destiny: experiment and take advantage of existing methods

Anarchosyndicalism

Sorel

syndicalist doctrine

influential in shaping of political parties like Mussolini's Italy

WORK

Reflections on Violence

Marxism

Engels

The Condition of the Working Class

helped

with

Marx

Communist Manifesto

  • dialectic- change is a constant process (Hegel thesis/antithesis)
  • materialism- ideas and thoughts are the product of the economic environment

ISSUES WITH CAPITALISM

  • Iron Law of Wages proves worker will never get their just reward
  • "Surplus value" is created by labor, when you replace labor with machines surplus value is reduced because the machines already include the cost of surplus value when they are purchased
  • capitalism always over produces

WHAT WILL HAPPEN

  • capitalism will destroy itself
  • the embittered proletariat will revolt
  • dictatorship of the proletariat
  • classless society
  • government no longer needed

APPLICATION

19th Century

1.

3.

legal/judicial systems were burdened by tradition, utility would remove legal clutter

2.

also:

coined new words: minimize, codify, international

made a model reformatory/prison

cycle of better wages, more kids, more workers, less demand, worse wages, less kids, less workers, more demand, better wages

profit

wages

Utopians

Humanitarian Liberalism

rent

Owen

Dickens

dehumanizing sameness of

industrial England

Hard Times

WORK

(overseeing workers was unnecessary, most will work, the ones that don't can starve)

Mill

objectives:

universal suffrage and education

WORKS

On Liberty

Subjection of

Women

5.

4.

(Revolutionary Socialism)

(devastating picture of industrial life)

(against political parties, favor spontaneous strike)

1. economic determinism

2. history of world is history of class

struggle

3. inevitability of communism

ERRORS IN THINKING

CORRECTLY ANTICIPATED

dialectic materialism

  • oversimplified human nature, stereotyped bourgeoisie and proletariat
  • didn't foresee rise in standard of living for proletariat
  • didn't foresee rise of nationalism (inhibit international workers movement)
  • incorrectly predicted a long-term decline in profits of capitalism
  • didn't foresee adaptability of capitalism to meet the needs of the worker
  • error in the idea of surplus value and if only human labor could create it
  • importance of propaganda
  • role of the socialist party in forging the revolution of the proletariat
  • state's large role in centralization of production
  • crisis created by the business cycle (boom-bust)
  • that profits do decline in an enterprise/ capitalistic economy
  • large businesses would dominate industry creating concentration of wealth and power for capitalists
  • smaller businesses would be consumed and people would fall into the proletariat

Ideologies

MARXISM ECONOMICS

ADAM SMITH / LAISSEZ FAIRE

profit motive good & self-regulating

needs of consumer create value

market avoids over production

(consumer dictates where value is)

consumer is king

self interest benefits community

profit motive exploits worker

labor creates value

market always over produces

capitalist is only beneficiary

values people who function only for good of community

Political

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