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Source analysis

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  • 1. Source Analysis<br />In the first source, the author’s view is compatible with Keynesian Economics and Modern Liberalism. Through this source we are presented with an ideology where true happiness cannot be pursued unless the government funds social organizations that can prevent debt, hunger, and poverty in the society. The author references to capitalism when stating that individuals cannot be free unless they accept that the government must have some influence in the market; this ideology refers to the modern liberalism principle welfare capitalism. The government must provide a “safety-net” for individuals in order to prevent debt and poverty. Richard Keynes developed an idea that would soften the effect of a recession, this was called Keynesian Economics. The author believes that this idea is used through the welfare state; the welfare state raises taxes when times are good and when times are bad, they are able to pump money back into the market. This source opposes classical liberalism in the sense that it is supporting government involvement in the economy. Capitalism is supported but this source is supporting more regulated capitalism; this is where modern liberalism comes into play. In order to maintain stability in the economy, the government support social programs, such as a welfare state and being a capitalist economy.<br />In source two, the perspective is criticizing socialism and Left-wing ideologies which are taking from the rich and giving to the poor. The author of this source has a conservative background by acknowledging the difference in classes by the “Haves” and the “Have-nots.” It is portrayed through this source that the author believes that socialist ideals are child-like and are impossible because they just assume that the production of goods is occurring by magic. The author believes that human labor is the only way to produce goods, and the hierarchical system actually works. This source is compatible with classical liberalism because it rejects government involvement in the market and supports individualist ideologies. <br />Source three has a similar ideological perspective as source two. The source is making a mockery of capitalism through the two rich men in black suites. They are in a well-furnished and elaborate home discussing the recent economic boom that was printed in the newspaper. The capitalist ideology (laissez-faire capitalism) is portrayed by the two men questioning the importance of a boom if it benefits everyone, even the poor. Laissez-faire capitalism supports fair competition, free market, and little government involvement in the economy. A capitalist economy is based on competition and individualism, and there must be a winner and a loser. The illustrator of this cartoon uses the two men as a comical way of opposing modern liberalism and the socialist ideologies. This source relates to classical liberalism in the fact that it is supporting the values of capitalism and encouraging individualism and promoting self-interest over others. <br />All of these sources present an opinion of whether or not the government should be involved in the economy and the benefits of capitalism. Source one rejects certain aspects of classical liberalism because it portrays the idea that the government needs to be involved to protect individuals so that self-interest can appropriately be pursued. It also presents the fact that capitalism should run the market with occasional intervention from the government to make the market fair (welfare capitalism). Source two and three pursue classical liberal ideologies, such as having no government involvement and capitalism. They support the fact that private companies and self-interest should run the market. In source one, the author is concerned with the pursuit of happiness and self-interest but having the government provide social and economic programs; source two embraces the idea that self-interest will prevent debt and poverty around the world; and source three promotes self-interest as a necessity of capitalist economy.<br /> <br />