CRITICAL QUESTION

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CRITICAL QUESTION

• WHERE DOES OWNERSHIP OF PROPERTY START?

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The Justification of Private PropertyJohn Locke

• Base World View
• A Cartesian Thinker (Search for Rationality)
• Man is Superior and Earth is There to Support Man
• Man has an Obligation to Subdue the Earth

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PROPERTY RIGHTS

• Man has property in his person
• Man uses his body to remove from the state of
  nature
• Once his body is jointed with land it becomes his
• Value of land is in its improvement

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ROBBERY

• If taken with permission of all commoners not
  robbery
• Take only what is needed
• Take advantage before it spoils
• Nothing was made by God for man to spoil or
  destroy

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COMMERCE

• Trade before goods spoil
• Trade for something of permanence (gold, silver,
  diamonds)
• Currency provides permanence and ability to
  accumulate wealth

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ALENATED LABOURKarl Marx

• Written in 1844 when he was 26
• BASIC ECONOMIC FACT The worker becomes poorer
  the more wealth he produces because the value of
  his production become less.
• VIEW OF HUMAN KIND Humans have a life activity
  which is higher than just maintenance of physical
  existence

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WORKER AND PRODUCT

• Worker no longer connect with work on
  intellectual or feeling level
• The more produced the less connection
• Systems cause loss of connection to self
• See self in terms of what produced
• Functions only to drink, eat and procreate

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ALIENATION

• Moved from Activity to Suffering, Strength to
  Powerlessness and Creation to Emasculation
• Contrary to man who combines will and
  consciousness
• We see ourselves as objects we possess. We
  identify only in the sense (seeing, touching,
  hearing, smelling, tasting) of what we own
• Our disconnection with self causes disconnection
  with others
• Private property takes way means, end and quality
  of life

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CRITICAL QUESTIONS

• Is there a price to pay for the division of
  labor?
• Does the invisible hand really direct behavior in
  the market place?

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Benefits of the Profit MotiveAdam Smith 1776

• Human Nature
• Interested in Exchange
• Dependent on Others
• Best Interests served when help is given because
  it benefits giver
• Division of Labor Central to Efficient Market
• Dexterity
• Time Saving
• Proper Use of Technology

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• Microeconomic Decision
• Based individual gain through specialization
• Hidden Hand of Market
• Causes different people to be employed in
  different tasks to yield greatest possible gain
  for self and society

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CRITICAL QUESTIONS

• Do the Wealthy have an obligation to the poor?
• If so how much should be given?
• How Should it be given?

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WEALTHAndrew Carnegie

• In Past Rich and Poor Lived Close Together
• Social Darwinism
• Competition has changed this creating winners
  and losers.
• Creates unknown workers and employers
• Society cannot support incompetent and lazy
• Highest result achieved through individualism

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• Highest result of human experience
  Individualism, Law of Accumulated Wealth, and Law
  of Competition. These are natural laws.
• Administration of Wealth
• Setting aside enough for comfort is not wealth
• One half of estate to dependents. One half given
  to away during life. Oversight of distribution
  is responsible of wealthy.
• Criteria of Distribution
• Give only to those who will help themselves
• Rich have an obligation to help society