Adam Smith and classical liberalism argue that private property, free markets, and limited government allow people to flourish and prosper. Smith predicted markets and competition would lead to economic growth, falling prices, higher living standards, and a large middle class.
Karl Marx predicted the opposite - that capitalism would concentrate wealth, impoverish workers, and require replacing markets with state control. However, evidence from the US shows Smith was right. Markets have led to prosperity, falling costs of living, and steadily improving conditions for workers over time. Worldwide, free market economies have seen far greater growth than centrally planned economies. This supports the classical liberal view that free markets best promote prosperity.
Breve recorrido por el desarrollo de la Sociología de la Educación, basado en el texto de Flecha, Ramón y Serradell, Olga: (2003): El desarrollo de la sociología de la educación. Principales enfoques o escuelas. Revisión crítica. En Fernandez Francisco (Coordinador) Sociología de la Educación. Pearson-Prentice Hall, Madrid
Union of Humans: The Future of the Millennial Generation in the Age of Automa...Ogilvy
It’s not always fun or easy to understand an automating, fissuring, hyper-globalizing economy. It’s not always comfortable to consider that decades-old safe and sage advice (“Go to college!”) might become totally obsolete—if we don’t move quickly to curtail the privatization of our primary schools, and/or colleges fail to modernize their offerings.
However with great crisis comes great opportunity, and Millennials are well-equipped to handle the mammoth issues before them. They are, after all, the most educated, most connected generation in American history.
So why the emphasis on…unions? Well, we really need them, and Millennials happen to love them. But the automation era will require its own union, of sorts—what we’re calling a “union of humans.”
I was asked to consider writing an article on greed. For weeks or more, I went from psychology, to socio-biology, and none if it fit.
I then saw a pattern emerging which was, not so much greed, we all know about it, but what about the consequences of greed? More importantly, why and how is it tolerated by the many who are so ill-affected by it.
SOCIAL JUSTICE AND SOCIOLOGYAGENDAS FOR THETWENTY-FIR.docxpbilly1
SOCIAL JUSTICE AND SOCIOLOGY:
AGENDAS FOR THE
TWENTY-FIRST CENTURY
JOE R, FEAGIN
University of Florida
The world's peoples face daunting challenges in the
twenty-first century. While apologists herald the globaliza-
tion of capitalism, many people on our planet experience
recurring economic exploitation, immiseration, and envi-
ronmental crises linked to capitalism's spread. Across the
globe social movements continue to raise the issues of
social justice and democracy. Given the new century's
serious challenges, sociologists need to rediscover their
roots in a sociology committed to social justice, to cultivate and extend the long-
standing "countersystem" approach to research, to encourage greater self-reflection
in sociological analysis, and to re-emphasize the importance ofthe teaching of soci-
ology. Finally, more sociologists should examine the big social questions of this
century, including the issues of economic exploitation, social oppression, and the
looming environmental crises. And, clearly, more sociologists should engage in the
study of alternative social futures, including those of more just and egalitarian soci-
eties. Sociologists need to think deeply and imaginatively about sustainable social
futures and to aid in building better human societies.
WE STAND today at the beginning ofa challenging new century. Like
ASA Presidents before me, I am conscious
of the honor and the responsibility that this
address carries with it, and I feel a special
obligation to speak about the role of sociol-
ogy and sociologists in the twenty-first cen-
tury. As we look forward, let me quote W. E.
B. Du Bois, a pathbreaking U.S. sociologist.
In his last autobiographical statement, Du
Bois (1968) wrote:
Direct correspondence to Joe R. Feagin, De-
partment of Sociology, Box 117330, University
of Florida, Gainesville, FL 32611, (feagin®
ufl.edu). I would like to thank the numerous col-
leagues who made helpful comments on various
drafts of this presidential address. Among these
were Hernan Vera, Sidney Willhelm, Bernice
McNair Barnett, Gideon Sjoherg, Anne Rawls,
Mary Jo Deegan, Michael R. Hill, Patricia
Lengermann, Jill Niebrugge-Brantley, Tony
Orum, William A. Smith, Ben Agger, Karen
Pyke, and Leslie Houts.
[TJoday the contradictions of American civi-
lization are tremendous. Freedom of politi-
cal discussion is difficult; elections are not
free and fair. . . . The greatest power in the
land is not thought or ethics, but wealth. . . .
Present profit is valued higher than future
need. . . . I know the United States. It is my
country and the land of my fathers. It is still
a land of magnificent possibilities. It is still
the home of noble souls and generous
people. But it is selling its birthright. It is
betraying its mighty destiny. (Pp. 418-19)
Today the social contradictions of Ameri-
can and global civilizations are still im-
mense. Many prominent voices tell us that it
is the best of times; other voices insist that it
is the worst of t.
Each of your responses must be no lessthan one paragraph.1. BaAlyciaGold776
Each of your responses must be no lessthan one paragraph.
1. Based on the theories discussed this week, which two (2) theories do you think bestexplains social inequality?
2. Which main points (from each theory you have chosen), do you think can best be used to explain inequality? Why do you like these theories over the other theories? Explain.
3. After reading the material for this week, to which social class do your really belong? Does your answer prior to reading differ after reading? Discuss what you have learned about social class and how this is determined.
Textbook Readings: Ch3 & Ch4
CHAPTER 3
Repeat Performance: Globalization through Time and Space
In the midst of the lively conversation, the elegant, 90-year-old woman said, “Please excuse me. There’s something I want to share with you.” A moment later she came back with a letter, which she had received at the turn of the twentieth century. The writer was a young Englishman she had met during a transatlantic voyage. He was explaining to his 15-year-old correspondent how exciting it was to be growing up in the nation whose empire stretched around the globe. “What’s particularly impressive,” he wrote, “is that in spite of our modest size, the magnificent phrase still rings true: ‘Rule, Britannia! Rule the waves.’ And that’s going to be the reality for centuries to come.” How strange it felt listening to the young man’s words while realizing that the world’s once dominant nation was now sharply reduced in the course of less than one slender lifetime.
Yes, he was wrong. In fact, as we see with modern world systems, once a nation attains dominance, it is on the brink of decline, and soon a repeat performance makes another nation dominant. In this chapter we examine the development and demise of world systems, which significantly affect citizens’ economic and political opportunities around the planet. Then the focus shifts to global social stratification, with distinctive differences between core nations and the less developed peripheral and semiperipheral countries. Throughout the chapter it is apparent that not only classes but nations themselves vary in access to capital resources. In particular, certain types of capital such as technology and education affect social inequality within countries. The final section indicates how the context of the global age impacts class groups, ranging from the wealthy to the poor.
First, however, it is necessary to place the global age in context.
THE RISE AND FALL OF WORLD SYSTEMS
The past 400 years of human history have featured three time periods in which a single country—Holland (the United Provinces) 1620–72, Great Britain 1815–73, and the United States 1945–67—established hegemony, a situation in which one nation has sufficient power and influence to impose its rules and goals globally in the economic, political, military, diplomatic, and even cultural realms (FineDictionary.com 2017; Wallerstein 1984, 38). The leaders of hegemonic powers pr ...
Accelerating the Industrial Revolution, 1800-1850More steel- s.docxannetnash8266
Accelerating the Industrial Revolution, 1800-1850
More steel- steam
engine and smelting
Railroads- First RR was
built in 1823 to connect
Manchester with the
nearby port of Liverpool
Repeal of the Corn Laws,
Poor Laws, 1832-1846
Stockton-Darlington locomotive, 1825
American locomotive, 1850
Iron and railroads led to steel bridges and road improvements
Chemicals:
Gas lights, fueled by gas extracted from coal, were installed in London, 1812-1820
Sulfuric Acid and Bleach for the textile industry were developed in between 1790-1830
Portland cement, and improvement over traditional concrete, was developed in 1824
SS Royal William, the first ship to cross the Atlantic under steam-power, from Nova Scotia to Liverpool, 1833
Pollution
Great Stink, 1858
Discontent and Organized Labor
Luddites, Manchester, 1811-12, led a series of riots protesting the use of steam engines in textile mills and the resulting unemployment.
Workers’ Unions were illegal in the UK until 1824.
The Chartist movement of the 1830s and 1840s represented the first real effort to build a labor union, and organized the first wide-spread labor strike in 1846.
In 1844, Frederick Engels, the son of a textile factory owner, published his Condition of the Working Class in England, one of the founding works of Socialism.
Reform of Working Conditions
Factory Acts of 1802, 1833-
1)Children under 8 can’t work
2)Children 8-13 can only work 8 hours per day, but only from 6AM to 9PM (max work week of 58 hours)
3)Children 13-18 can work twelve hours per day (max work week of 70 hours)
4) The employers of child-labor must send them to school at least once per week for the first four years of their employment (this was expanded to two hours per day).
Factory Act of 1844-
Women and children (13-18) not allowed to work beyond 58 hours per week.
Factory Act of 1847- The ten hour work day
Robert Owen (1771-1858)
Great fan of reforming industrial labor conditions
Ran his own mill town of New Lanark, Scotland, as an example of how fair treatment and investment in the lives and education of workers could alleviate the social problems of capitalism.
Believed poverty could be solved
by the creation of new villages
for the poor based on the
old principle of commonly-held
lands.
Edwin Chadwick
Member of Poor Laws Commission, but bitterly rejected the reform of the Poor Laws in 1832
Published The Sanitary Condition of the Labouring Population in 1842, complaining about working and living conditions in London and other cities.
Made commissioner of the Metropolitan Sewer District, which built London’s modern sewage system
Ireland and Enclosures
During the eighteenth century, English and Irish-protestant landlords pursued a policy of increasing cash rents or enclosures for sheep farming, dispossessing large swaths of the Irish peasantry.
Many moved to England,
looking for employment in
the cities.
Ireland under British Liberalism
Agricultural Revolut.
There is a political realignment in process in the developed world. it replaces the old "left-right" economic axis with one based on identity. This means that economic arguments have less power. What can supporters of the free market do about it?
Group presentation on The Wealth of Nations by Adam Smith.pptxSumaiaRuhane
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Digital Artefact 1 - Tiny Home Environmental Design
Adam smith-and karl marx ldeology
1. The Classical Liberal Tradition
Tradition:
Adam Smith vs. Karl Marx
J
James R. Otteson, PhD
,
Joint Professor of Philosophy and Economics,Yeshiva University
Charles G. Koch Senior Fellow, The Fund for American Studies
2. Part I: What Is Political Philosophy?
p y
One b
basic question:
What kind of government should we have?
Lots of choices:
Democracy, aristocracy, monarchy, constitutional
republic.
bli
Classical liberal, socialist.
Criteria?
Ci i?
3. Here Is One Criterion: Ideal Goodness
Plato (428-348BC)
(
)
The Republic (~380)
Kallipolis = ruled by the
best.
Philosopher-kings: The
p
g
Good Life.
Jobs, goods, marriage,
g
g
children, education, …
Everything!
4. A Second Criterion:
Appropriateness or F
A
Fitness.
Thomas Hobbes (1588(
1679).
Humans: competitive,
distrustful, vain—and
distrustful vain and thus
violent.
Needed: all-powerful
p
“leviathan” to keep peace.
Think of children during
recess ....
5. Perhaps y noticed …
p you
Both of those lead to ‘total’ states.
That is, some person or persons with absolute authority.
Are there criteria that lead to limited states?
That is, limitations on state authority?
Yes …
6. A Third Criterion: Legitimacy
: g
y
John Locke (1632-1704).
Freedom and equality.
“Natural rights” to life,
liberty, and property.
lb
d
No slavery!
American founding.
A ‘principled’ case for
classical l b l
l
l liberalism.
7. A Fourth Criterion: Prosperity
Adam Smith (1723-90).
“Father of economics.”
The ‘economic’ case for
classical l b l
l
l liberalism.
Private property, markets,
and trade wealth &
prosperity.
8. Part II: What Is Adam Smithian
“Classical Liberalism”?
“Cl
l L b l ”?
Smith s
Smith’s question: What
institutions allow people to
f
flourish and p p
prosper?
His “classical liberal”
answer:
Private property.
Free trade.
“Justice” (= life,
property, contracts).
What else is classical
liberalism?
1. Individual’s priority over
Individual s
the state.
2. Multiple “good lives.”
p g
3. Competition.
4. Consent.
. Co se t.
5. Even … revolution?
9. Smith’s An Inquiry into the Nature and Causes of
the W l h of N
h Wealth f Nations (1776)
Beginning of “economics.”
Profound influence on British and American
political policy.
What did it claim?
Free trade, limited government, competition, and
open markets: keys to human prosperity.
That’s “classical liberalism.”
10. What Is WN’s Argument?
g
“It is the great multiplication of the productions of
all the diff
ll h different arts, i consequence of the di i i of
in
f h division f
labour, which occasions, in a well-governed society,
that universal opulence which extends itself to the
p
lowest ranks of the people.”
Division of labor exploits local knowledge.
Specialization leads to surplus (“multiplication of
production”).
Surplus i
S l
increasing goods d
i
d
decreasing prices.
i
i
Everyone can afford more (“universal opulence”).
11. Why Free (Not “Fair”) Trade?
Cooperation and M
C
d Mutual B f
l Benefit
“In a civilized society man stands at all times in need of
y
the co-operation and assistance of great
multitudes, while his whole life is scarce sufficient to
gain the friendship of a few persons.” (Cooperation.)
“[Man] has almost constant occasion for the help of his
brethren, and it is in vain for him to expect it from their
benevolence only. He will be more likely to prevail if he
can interest their self love in his favour, and shew them
self-love
favour
that it is for their own advantage to do for him what
he requires of them.” (Mutual benefit.)
q
. (
f )
12. Why Free Markets?
Markets “encourage every man to apply himself to a
particular occupation, and to cultivate and bring to
perfection whatever talent or genius he may possess.”
“[T]he
“[ ]h most di i il geniuses are of use to one
dissimilar
i
f
another; the different produces of their respective talents
[…]
[ ] being brought as it were into a common stock where
brought,
were,
stock,
every man may purchase whatever part of the produce
of other men’s talents he has occasion for.”
Thus: markets opportunities choices diversity.
13. Self-Interest, Competition, and
the “
h “Invisible Hand”
bl
d”
“As every individual, therefore, endeavours as much as he
As
can … to direct [his] industry that its produce may be of the
greatest value; every individual necessarily labours to
render the annual revenue of the society as great as
he can.”
“[B]y directing [his] industry in such a manner as its produce
may b of the greatest value, he i t d only his own
be f h
l h intends l hi
gain, and he is in this, as in many other cases, led by an
invisible hand to promote an end which was no part of his
intention.”
”
Invisible hand: unintended but real benefits for others from
se te est.
self-interest.
15. Here are Karl Marx (1818-1883) and
Friedrich Engels (1820-1895):
F d h E l (1820 1895)
16. Predictions from Marx’s
1843 C
Communist M f
Manifesto:
Smithian “political economy” will: concentrate
p
power and property in the hands of a few and
p p y
lead to only two classes, the propertied and the
p p y
propertyless.
2. The “ideologies” of free trade and free
p
,
g
competition enslave workers, rendering them
powerless against and exploited by employers.
1.
17. Marx s
Marx’s predictions (cont d.):
(cont’d.):
Workers’ wages will steadily decline to
“subsistence” l l standard of li i f ll as
“ b
” levels;
d d f living falls
well.
4.
4 Instead of greed driven and alienating “market
greed-driven
market
forces,” the “most advanced and resolute”
intellectuals must “wrest” “all capital from the
p
bourgeoisie” and “centralise all instruments of
production in the hands of the state.”
3.
(Note: These are all empirical claims.)
18. Smith Makes Opposite Prediction
in Each C
h Case:
1. The “obvious and simple system of natural liberty”
will enable more and more to ascend out of
poverty, creating large and thriving middle
class.
2. Free trade, free competition, and the abolition of
special privileges (like state-enforced monopolies)
will lead to increasing economic prosperity
for everyone, including workers.
19. Smith s
Smith’s Predictions (cont’d.):
(cont d.):
3. Over time, employer competition will lead to
steadily increasing wages, benefits, and
g
overall standards of living.
4. Decentralized markets will precipitate
g
greater prosperity than centrallyp p
y
y
planned economies will.
20. So . . . Who’s Right?
Who s
Marx or Smith?
Smith is.
On every count
count.
21. Consider the
United S
U d States of America:
fA
The middle class dominates American economics.
.
Think Wal-Mart and Ford vs. Cartier’s and Jaguar.
Over the last two centuries, working conditions in
,
g
America have steadily improved.
These conditions are now at levels unimaginable j a
g
just
generation or two ago (ask your grandparents!), and
dramatically better than that of most other countries
today.
22. Evidence of Improvement Over Time:
Costs Go Down, Q li G U
C
G D
Quality Goes Up
A 3-minute phone call f
h
ll from
New York to San Francisco
cost 90 hours of labor in
1915; in 2009 it cost 4
seconds. (How much time
(
you spend on the cell
phone?)
Three hearty meals in
1919, 9.5 hours; today, 1.0
and f ll
d falling.
Housing cost 7.8 h
hours of
f
work PSF in 1920; today,
4.9—with
4 9 with much higher
quality and better amenities
(
(indoor plumbing, central
p
g,
heating, electricity, etc.).
And consider: antibiotics,
lasers, and prosthetics.
23. In America:
Markets and competition have led to economic growth,
falling prices, and higher standards of living.
Computer processing power per dollar.
Freud, soap,
Freud soap and civilization
civilization.
Have you ever had a toothache?
My one-bathroom flat in Scotland. (One bathroom?! Egad!)
Workers’ wages, benefits, and standards of living are arguably
better here than anywhere else in the world
Certainly better than most places in the world
world;
Far, far better than for most of human history.
24. More Generally:
Worldwide: free-market-based economies have dwarfed
centrally-planned economies i productive power.
t ll l
d
i in d ti
Ex.: Impressive numbers by Soviet Union during Cold War often pure
fabrications.
Tanks economic prosperity.
Free economies have led to prosperity for everyone—
including especially the p
g p
y poor.
Poor are far better off in market-based economies than in
centrally-planned economies.
Don’t believe me?
25. Consider:
In l 1900
I early 1900s, only super-rich had automobiles.
l
i hh d t
bil
Today:
>90% of American households have cars
cars;
60% have two or more.
America may soon be first nation with more automobiles
than people.
Similarly with most necessities, especially f , clothing, and
y
, p
y food,
g,
shelter: getting cheaper while quality improves.
26. And Don’t Forget . . .
Don t
Americans today: more leisure time than any generation of
Americans has ever had.
(Again, ask your grandparents—they’ll tell you!)
An indicator: Americans spend on average 35 hours per
week just watching TV!
(If you add in video games, texting, and net surfing, over
40 hours.)
A main h l h problem f
health bl facing A
America’s l
’ low-income
citizens today is not starvation, but . . .
Obesity!
Ob it !
27. What to Conclude from This?
Markets, trade, and private property, have enabled us to
work l and yet afford more.
k less d
ff d
Our standard of living is higher than that of previous
generations.
generations
Average annual per-capita income for past 10,000 years:
$100; worldwide average in 2009, $10,500.
g
Today in America: $46,400.
Don’t take my word: Check this for yourself.
Please! (And tell your friends!)
28. Part IV: An Objection
America’s increasing prosperity, at least over the
g
y
last 100 years, is correlated with increasing
g
government.
economic regulation by the g
So: Is America’s prosperity due to government
,
j
intervention in markets, rather than just to markets?
Do we need government regulation of markets?
29. Answer:
It would appear not. Why?
Government regulation of markets is inversely
correlated with economic prosperity.
Evidence: the freer the markets in a country, the
more it protects private property, and the lower
its trade b
d barriers and taxes, … the h h its
d
h higher
overall prosperity.
Thus:
Th
Classical liberalism increasing prosperity;
Government
Go ernment regulation d
decreasing prosperit
i prosperity.
30. What Is This Evidence?
Economic Freedom of theWorld Index (http://www.freetheworld.com/)
Correlation between economic f d and economic prosperity in
C
l
b
freedom d
~140 countries since 1975.
“Economic freedom”: “Individuals have economic freedom when
property they acquire without the use of force, fraud, or theft is
protected from physical invasions by others and they are free to
use, exchange, or give their property as long as their actions do
g
g
p p y
g
not violate the identical rights of others. An index of economic
freedom should measure the extent to which rightly acquired
p p y p
property is protected and individuals are engaged in voluntary
gg
y
transactions.”
A notably Smithian definition!
The results?
31. The Economic Freedom (EF) Rankings
of the Top Ten Countries:
f h T T C
i
(from Economic Freedom of theWorld 2008)
Hong Kong
Singapore
New Zealand
Average of top 10
Switzerland
United Kingdom
Chile
Canada
Australia
United States
Ireland
I l d
0
2
4
6
Score (out of 10)
8
10
32. For Comparison, the Bottom Ten:
p
,
Chad
Central Afr. Rep.
Guinea-Bissau
Congo, Dem. R.
Venezuela
Niger
Congo, Rep.
Congo Rep Of
Myanmar
Angola
Zimbabwe
0
2
4
6
Score (out of 10)
8
10
33. Correlations: EF and Wealth
GDP Per Capita
P
(pp 2006
pp),
Correlation between
regulation and per-capita
income.
Note: d ff
difference between
b
bottom and top quartiles is
$35,000
nearly ten fold
ten-fold.
$30,000
$25,000
$20,000
$ ,
$15,000
$10,000
$5,000
$0
Least Free
Qua t e
Quartile
3rd Quartile
2nd Quartile
Most Free
Qua t e
Quartile
34. EF and Economic Growth:
:
GD Per Capita % Growth,
DP
1994-200
03
Correlation between
government regulation and
growth (as % of GDP
increase):
2.5
2.0
1.5
1.0
0.5
0.0
Bottom
Quintile
Fourth
Quintile
Third
Quintile
Second
Quintile
Top Quintile
35. United Na
ations
Human Deve
elopment
Index
x
EF and Prosperity: Overall Quality of Life
p y
Q
y f f
1.0
0.8
0.6
0.4
0.2
0.0
Least Free
Quartile
3rd Quartile
2nd Quartile
Most Free
Quartile
EF and UN’s “Development Index,” combined measurement of: (1) life expectancy,
(2) adult literacy rates, (3) school enrollment, and (4) per-capita incomes.
36. Q
Quality of Life, Take 2: Life Expectancy
y
,
:
p
y
80
Years
60
40
20
0
Least Free
Quartile
3rd Quartile
2nd Quartile
Most Free
Quartile
Note: difference between top and bottom quartiles
y years.
is over twenty y
37. Quality of Life, Take 3: Children
Bottom is levels of child
labor (% of 10 14 year olds
10-14 year-olds
in work force) against EF.
Per 1,000 live births,
1
2006
80
60
40
20
0
Least Free
Quartile
3rd Quartile
2nd Quartile
Most Free
Quartile
25
Percentage of children
10-14 who are in the
labour force
r
Top g p is levels of infant
p graph
f
mortality measured against
EF.
20
15
10
5
0
Bottom
Quintile
Q intile
Fourth
Quintile
Q intile
Third
Quintile
Q intile
Second
Quintile
Q intile
Top
Quintile
Q intile
38. Quality of Life, Take 4: Environment
Index (out of 100)
EF rated against
environmental
performance. 100
f
80
60
40
20
0
Least Free
Quartile
3rd Quartile
2nd Quartile
Most Free
Quartile
39. So, the Response to the Objection:
,
p
j
EF tracks measurements of prosperity closely, up and
down.
Demonstrates: as government economic regulation increases,
prosperity decreases; and vice-versa.
d
This holds for a number of variables:
40. EF Tracks Positively with Increases in:
y
Money, both as per-capita
income and real economic
growth
Life expectancy
Infant survival
Child nutrition
Literacy
L
Food production
Access to health care
Access to safe water
Percentage of GDP dedicated
to research and development
Political stability
Peace
41. But: How Do Markets Affect the Poor?
Recent studies conducted by the World Bank that looked at data
from 137 countries:
“Private property rights, fiscal discipline, macro stability, and
openness to trade increases the income of the poor to the same extent
d
h
f h
h
that it increases the income of other households in society” (emphasis
added).
).
WB Report adds: not a “trickle-down” process; benefits for rich
and poor created “contemporaneously.”
WB Report: Government spending = negative (!) effect.
42. Evidence from the Economic Freedom Index
Supports S
S
Same C l i
Conclusion:
In
ncome Level of the
f
Poo
orest 10%, 1990
0-2006
Poorest 10% earn more in
economically free countries—
by f t f ten!
b factor of t !
$9,000
$8,000
$7,000
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
Least Free
Quartile
3rd
Quartile
2nd
Quartile
Most Free
Quartile
43. So . . . Smith vs. Marx:
Both: large influence on the history of the world.
Smith’s influence:
Almost universally beneficial, especially for the poor.
In U.S.: both “rich” and “poor” are getting richer;
“poor” at faster rate.
Marx’s influence, h
M ’ i fl
however …
Not so beneficial …
44. Part V: Marx’s influence:
Marx s
Everywhere Marxian political-economic ideas have been
implemented have suffered terrible consequences:
All at or near the bottom of the economic freedom
ranking;
ki
All are exceedingly poor.
45. Compare Actual Results:
Per C
P Capita P h
Purchasing Power Parity
P
P
Hong Kong (#1), $42,700 vs. China (#82) …
China: $6500.
China, $6500 vs. Taiwan (#16), $30,200.
South Korea (#32), $27,700 vs. North Korea (n/r)* …
(#32) $27 700 s
North Korea: $1800.
Cuba (n/r)*, $ ,
( ) , $9,700 vs. “Little Havana” …
Miami, Florida: $33,712.
*EFI does not rank North Korea or Cuba because of insufficient verifiable information. The
Heritage Foundation, which does its own rankings (available here:
http://www.heritage.org/index/ranking.aspx),
http://www heritage org/index/ranking aspx) puts North Korea dead last of 179
countries evaluated and Cuba third-to-last.
46. And that is not even considering …
. . . the approximately one hundred million innocent
people killed during the twentieth century by their own
governments in the name of Marxian ideals.
f
47. Consider: Lenin and Stalin.
V. I. Lenin (1917-24):
(
)
4,017,000 dead.
Joseph Stalin (1929-53):
42,672,000 d d
42 672 000 dead.
Soviet slave-labor system under
Lenin and Stalin killed almost
40 million people over some 70
years—more than twice as
many as killed by 400 years of
brutal African slave trade.
48. Mao Tse tung
Tse-tung
1927-76 (includes guerilla
(
g
period): 37,828,000 dead.
Not all records are open to
p
the public yet.
Final tally may have Mao
surpassing Stalin.
49. Pol Pot
1968-87: 2,397,000 dead.
, ,
Most lethal murderer in
twentieth century:
1975-9: k ll d 8% of population
killed
f
annually.
Khmer Rouge killed 31% of all
men, women, and children in
Cambodia.
The odds of surviving: 2.2 to 1.
g
(Pol Pot died peacefully in 1998
after a one-year house arrest.)
50. Cheong Ek Mass Grave in Cambodia,
Exhumed i 1980: “Th Killing Fi ld ”
E h
d in 1980 “The Killi Fields”
About 9 miles
outside of Phnom
Penh, Cambodia’s
capital;
capital home of
some 129 mass
graves.
Now principally a
tourist destination.
51. Final Lesson
Classical liberal tradition and Adam Smith have a great deal to
offer: prosperity and liberty
liberty.
Perhaps literally the difference between life and death:
Indirectly, alleviating poverty; and
Directly, decentralizing power.
Note: A Smithian society will not be perfect.
But …
No society ever will be.
Thus: relatively better.
Evidence suggests Smithian classical liberal society is superior to
any other known alternative.
52. The 20th Century Was a 100-Year Contest
between S i h and M
b
Smith d Marx.