Chap 2-3

• Rule of Law and Social Contract (Medieval) Magna Carta

• Declaration of the Rights of Man (French Revolution)

• Declaration of Independence (American Revolution)

• Canadian Charter of Rights and Freedoms

• Between 1500-1700s Mercantilism developed

• Mother Countries started to Import wealth from their colony countries

• The Dutch, French, British, Spanish and Portuguese all started competing

• Hoard all the wealth - control the world

• Argued against government control on economy

• Wrote; Wealth of Nations **

• Proposed; Free-Market Economy

• Supply Vs Demand "the invisible hand"

• Ppl will act out of self interest

• Leave it Alone; "Laissez-Fair"

• People are CONSUMERS

Chapter 3!

the set of goals or ideals that members of a group pursue together and that will benefit the group as a whole, rather than benefiting any one individual in the group.

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Collective Interest

the good of a community; something that benefits the public health, safety and/or well-being of society as a whole.

​common good

people working together to accomplish common goals, a principle emphasized by collectivist ideologies. (can also include organizations called co-ops)

​Co-Operation

companies owned by Canadian federal or provincial governments, which are formed to serve the common good (ie. CBC, VA Rail, BC Hydro, Saskatchewan Government Insurance, Liquor Control Board of Ontario).

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​Crown Corporations

government-owned land, which is often rented or leased to individuals or companies for profit. 

(green stuff)

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Crown Land

a principle common to collectivist ideologies, which can have different meanings depending on the person or the ideology. 

Economic Equality

anything (ie. land, buildings or vehicles) not privately owned by individuals.  Generally speaking, public property is owned by the state or the community and managed according to the best interests of the community.

​Public Property

an understanding (written or non-written) whereby each individual of a society agrees to be governed so that he or she may gain the benefits of living in that society (ie. by having access to protection and economic opportunities). 

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Social Contract

any ideology based on the belief that collectivist values, such as collective responsibility, collective interest, co-operation, economic equality, adherence to collective norms and public property, should be the foundation for political, economic and social life.

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​Socialism

• How we went from Mercantilism to Capitalism to Communism

• poor working conditions

• low wages

• high moralities

• child labour

• People start looking at ways to benefit everyone for the common good

• Socialism and Communism form

• Wrote "the Communist Manifesto"

• believed capitalism created the poor

• considered the "Father of Communism"

• Need REVOLUTION!

• Class Struggle (the struggle is real)

• we will all work together in collectivism