Economics Week 1 Essay

1. The first chapter in the book is about the market and its inner workings. The book briefly explains the idea of supply and demand, in which the price of a certain good or service will reach the point where all the demand is equivalent to the supply. However, the value of something is not determined by its necessity, but its desire within society, as seen by the difference in cost between a diamond and life giving water. Markets operate as they do because people try to maximize the amount of utility for themselves. Nevertheless, a strict rationalism model cannot be used for predicting all the occurrences of a market because of the ever changing behavior of people; thus economists must take precautions against

Property: The right to claim and hold property; When it has been laboured for, one encloses it for greater individual profit the profit of the community of Man, it has been laboured for – Natural means of ownership one encloses it – The process of holding legal “deed” for greater individual profit – to build investment equity and avoid poverty of waste the profit of the community of Man – Moral commitment to Human Development (Locke: 1689).

Many people found ways around rationing through the black market. Even though the black markets were not hidden and many people knew about them and used them regularly, the government’s attempts to suppress them were unsuccessful.

Karl Marx and John Locke both formulated philosophical theories that worked to convince people of their rights to freedom and power; however, they had conflicting viewpoints on the idea of private property. Locke felt that property belonged to whoever put their labor into it, and one could accumulate as much property as he or she wants (692). Marx, however, considered the private property of the select few who possessed it to be the product of the exploitation of the working class (1118). Personally, I believe that Locke’s conception of private property is more convincing than Marx’s point of view.

In the Second Treatise of Government by John Locke, he writes about the right to private property. In the chapter which is titled “Of Property” he tells how the right to private property originated, the role it plays in the state of nature, the limitations that are set on the rights of private property, the role the invention of money played in property rights and the role property rights play after the establishment of government.. In this chapter Locke makes significant points about private property. In this paper I will summarize his analysis of the right to private property, and I will give my opinion on some of the points Locke makes in his book. According to Locke, the right to private property originated when God gave the world to

John Locke and Jean Jacques Rousseau, two philosophers with differing opinions concerning the concept of private property. Rousseau believes that from the state of nature, private property came about, naturally transcending the human situation into a civil society and at the same time acting as the starting point of inequality amongst individuals. Locke on the other hand argues that private property acts as one of the fundamental, inalienable moral rights that all humans are entitled to. Their arguments clearly differ on this basic issue. This essay will discuss how the further differences between Locke and Rousseau lead from this basic fundamental difference focusing on the acquisition of property and human rights.

Sam compares chickens to falcons as an example. He says that the reason of extinction of falcons versus numerous amounts of chicken is a result of private property. When someone takes ownership of a chicken, they have a motive to take care of it and have it survive. When no one takes ownership of falcons, they let out in the world as free birds but they can easily be in danger due to natural causes. Similarly, no one claims the ownership of the air and the ocean so many people tend to pollute these two natural areas of the earth. The allocation of resources corresponds to the ownership of them because the producer/owner is the one who decides who to allot his/her products to. "Risk and reward" are also part of private property because people usually know that when they purchase products they put their money and themselves at risk but they also get to experience the reward out of the

The bundle of rights theory is a common way of explaining how rights in property are held. It is a theory which is commonly used to explain how a property can simultaneously be "owned" in some sense by multiple parties. For example, a husband and wife can be owners of real property that is also encumbered by a mortgage and a mechanics lien. Bundle of rights is a theory and teaching tool, and thus is not subject to being either true or false Ownership, however, does not necessarily equate with sovereignty. If ownership gave supreme authority it would be sovereignty, not ownership.

However, rationing is where people will get rationed coupons allowing him or her to purchase a certain amount of food. For example, in Poland, they gave them rationing stamps. As a matter of fact, population control they do not want their community to go down. For instance, the Soviet Union had Holodomor that is food shortages persist. Actually, in China, they had a one-child

Private property is a piece of land, a home, or a car owned by one person or

Throughout history there have been many different beliefs about ownership. What does owning something mean? How does it affect you in regards to your identity? Different philosophers have expressed their beliefs concerning the relationship between ownership and identity. One interesting view about ownership that stands out from the rest is Jean-Paul Sartre’s. His theory is that ownership extends beyond physical material, like the other philosophers believe. Instead he states that ownership can be intangible things like skills or knowledge. Sartre suggest that having abilities means you own them, they are part of who you are, and therefore impact your identity. The abilities I own affect my sense of self or the kind of person I think or know I am. These include my ability to be loving, outgoing, and faithful.

First and foremost, the type of government plays a major role in deciding how much power an individual has in owning something. In a capitalist society, anyone can own anything, because it is a free market. The individuals of this society have all agreed, that paper money has value, and can be exchanged for goods, property, or anything for that matter. Since this currency is in play, the people can purchase what they want. The government then keeps track of most expensive items such as car, land, and buildings. If there is a dispute over ownership, then the government can enforce the law, allowing the rightful owner to own their property. In a Communist society however, the government is ruled under a dictatorship. The ideal communist society would be that everyone gets an equal share. This means that an individual cannot own more than their peer, and nobody gets

Every substantial thinker has different views on the comparison between ownership and sense of self. There are many differences found about the topic, theory, and the sense of self identity. Jean-Paul Sartre sees ownership as being “Proficient in some skill.” in other words, creating a bond or relationship between ownership and sense of self. I believe ownership and knowledge of any certain skill can certainly add to a sense of self identity, character identity, and in understanding the importance of learning a skill.

Private Property of Free Enterprise allows a single person to hold

Through studying these works of Grotius in the manner outlined above, it will become clear that the overall idea is that the common ideology that private ownership means that owners can do whatever they wish with what they own is incorrect. Both private and common ownership are established on the right to alienate a thing regardless of the number of people that have possession of the thing. In the case of common ownership social and legal norms can make the ownership of a thing subject to group ownership. In the case of private ownership these social and legal norms are not applied although things are owned. Regional social circumstances determine which type of ownership provides the highest benefit to the owners where as