economy

Question 1

What does Hobbes say about the economy?

Answer 1

for the economy to function effectively, a strong state is needed.

Question 2

What does Burke say about the economy?

Answer 2

supporter of Adam Smith and free market economics

Question 3

What does Oakeshott say about the economy?

Answer 3

supporter of free market but accepted that it creates victims who need help
(welfarism)

Question 4

What does Rand say about the economy?

Answer 4

economic libertarian- free market. “laissez faire”- government should stay out of running the economy

Question 5

What does Nozick say about the economy?

Answer 5

tax is theft/ labour laissez faire

Question 6

What did Burke say trade should involve?

Answer 6

trade should involve “organic” free markets and laissez-faire capitalism.

Question 7

What did Hobbes say about the state and the economy?

Answer 7

constructive and enduring economic activity is impossible without a state guaranteeing order and security

Question 8

What did rand say about the economy and objectivism

Answer 8

Free market capitalism is an expression of “objectivist” individualism and should not be hindered by the state

Question 9

What did Oakeshott say free markets are?

Answer 9

Free markets are volatile and unpredictable, and may require pragmatic moderation by the state.

Question 10

What did Nozick say about the economy linking to the minarchist state?

Answer 10

The minarchist state should detach itself from a privatized and deregulated economy, merely arbitrating disputes between private economic organizations