Comms Market Liberalism

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What is Market Liberalism?
When people or companies are driven to produce goods and services for a profit.
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What three things are needed for production
Land, capital, labour
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Land and capital can be gained by a minority but...
Labour is purchasable.
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Labour is...
exchanged for wages.
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Buyers and sellers...
interact according to the laws of supply and demand
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competition...
ensures price and quality are controlled
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SO... maket liberalism
asserts that capitalism brings us economic, social, cultural, and political benefits.
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The Enlightenment
In the 18th century. questioned society and promoted ideas of reason, freedom and democracy breaking up aristocracy and religion as authority sources
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Who was John Locke and what did he do?
He was the father of liberalism. He said that 'Property is a natural right and comes from labour. The mind is a blank slate - we are not born with knowledge, or morality, we learn it. The self is a continuity of consciousness.'
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What is capitalism?
People produce goods & services for profit.
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Name a Key Tenet of Market Liberalism
Small State
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On Free Markets..
Goods and services are controlled by supply and demand. E.g. KFC and their chips switch
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Is Britain a free market?
Not in the true sense of a free market. Otherwise, yes.
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What is Free Trade, tho?
Well, Free trade is a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports) or quotas.
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ON COMPETITION
A competitive market has so many businesses vying for the same customers.
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What is product range?
In order to attract and satisfy customers, companies need to produce products that are superior to their competitors.
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What is customer service?
Retailers that provide customers with a helpful and friendly service will win their loyalty.
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Sooooo... what is laissez-faire?
French for pure, capitalism of the highest quality.
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What should a government do?
Limited liability laws, property rights, law and order, bankruptcy protecction. etc
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CONSUMERISM
We buy things we don't need to impress people we don't like.
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What is Globalisation?
to all those processes by which the peoples of the world are incorporated into a single society, global society
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Other cards in this set

Card 2

Front

What three things are needed for production

Back

Land, capital, labour

Card 3

Front

Land and capital can be gained by a minority but...

Back

Preview of the front of card 3

Card 4

Front

Labour is...

Back

Preview of the front of card 4

Card 5

Front

Buyers and sellers...

Back

Preview of the front of card 5
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