Source analysis

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  • 1. Source Analysis<br />Interpret each source, explain the ideological perspective(s) presented in each source, and discuss the links between the principles of liberalism and each source. <br />AND<br />Identify and explain on or more of the relationships that exist among the three sources. <br />Source I<br />
    • Has a view that is well-suited with Keynesian economics and modern liberalism.
    • 2. His argument is that people cannot be truly free to pursue happiness unless there is some government involvement creating social programs that are preventing the people from debt, hunger, and poverty.
    • 3. He is referring to capitalism when he says that individuals cannot be free unless they accept the fact that there has to be some government involvement in order for individuals to pursue happiness. Therefore the author presumably believes in welfare capitalism, where there are government programs to provide a ``safety net`` to prevent insecurities such as debt or poverty.
    • 4. The author mentions welfare state, raising the taxes when times are good, and using that extra money to help the economy recover from the bad times, creating a less frequent and exaggerated `boom-and-bust`` cycle.
    • 5. Opposing Classical liberalism and for modern liberalism.
    Source II<br />
    • Criticizing socialism and left-wing ideologies
    • 6. Relates the socialist ideas as being impossible by assuming that the production of goods is occurring through `magic``.
    • 7. Conservative view through capitalist ideasthrough human labour to produce goods. This should not be changed.
    • 8. Promoting classical liberalism and maintaining traditional economy proves his conservative.
    • 9. Rejects government involvement
    Source III<br />
    • Mockery of capitalism showing 2 rich men in suits and a sophisticated home discussing the newspaper article about the recent economic boom.
    • 10. Capitalist men are questioning the importance of the boom if its benefiting everyone, including the poor. If everyone is benefiting than nobody wins.
    • 11. Classical liberalism stays true to the values of capitalism and encourages the success of individuals, promoting value of self over others.
    Relationship<br />
    • Government involvement and benefits of capitalism
    • 12. Each addresses a different view on the extent to which a government should be involved in an economy
    • 13. Source I rejects classical liberalism by saying that government needs to intervene in order for individuals to truly be able to pursue their happiness. Capitalism should be included with occasional intervention from the government to run a more fair environment which is welfare capitalism.
    • 14. Source II and III classical liberalism is embraced by stating that government should not in any way be involved in the economy. Capitalism and private companies should only run the market.
    • 15. All address self interest: source I, author is concerned with the individuals pursuit of happiness and their self interest in the economy, ensuring that there is something to fall back on that the government creates (social programs).
    • 16. Source II embraces self-interest and states that is can prevent hunger and poverty
    • 17. Source III promotes self-interest as a necessary part of capitalist economy and is high importance for this ideology.