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by: jaxxgrace

notes ECON 201


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Principles of Economics: Microeconomics
Bruce Brunton
Class Notes
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This 2 page Class Notes was uploaded by jaxxgrace on Wednesday April 27, 2016. The Class Notes belongs to ECON 201 at James Madison University taught by Bruce Brunton in Summer 2015. Since its upload, it has received 4 views. For similar materials see Principles of Economics: Microeconomics in Business at James Madison University.


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Date Created: 04/27/16
History 225 LECTURE Notes Freedom is not absolute. Freedom from Want, Freedom from Fear Annual Message to congress, Jan 6 1941 Roosevelt Four essential human freedoms:  Freedom of speech and expression  Freedom of worship  Freedom from want o Economic understanding which will secure to every nation a healthy life for all inhabitants  Freedom from fear o World wide reduction of armaments to such a point that no nation will be in a position to commit an aggressive physical action against their neighbor Insufficient to defend freedoms: not what is under threat -Freedom requires economic security  Roosevelt redefining freedom to mean provision of economic security o Government must ensure through proper economic planning -Japan, Germany, Italy- new world of dictators  Antithesis of the new world order of tyranny o Linking growth of tyranny with kind of tyranny Americans experiences back in the 70s  Preserve world of peace, security, freedom -Right is everywhere in the world  Vision of new world order not just in America o Emerging clash of visions of world order; universal rights of mankind  Foreign policy; idealistic policy -Foreign powers have power to invade united states 40s,50s,60s -Protection at home tied to foreign policy  Cannot disconnect foreign and domestic policy  Way of demolishing isolationist sentiment -Economic bill of rights (January of 1944)  Rights of citizenship regardless of class/station, race, or creed  Vision connects individual freedom with economic security  Dictatorship will destroy economic security -Economic Bill of Rights (Second Bill of Rights)  The right to a useful and remunerative job in the industries or shops or farms or mines of the nation;  The right to earn enough to provide adequate food and clothing and recreation;  The right of every farmer to raise and sell his products at a return which will give him and his family a decent living;  The right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad;  The right of every family to a decent home;  The right to adequate medical care and the opportunity to achieve and enjoy good health;  The right to adequate protection from the economic fears of old age, sickness, accident, and unemployment;  The right to a good education. -Rights to economic security; right to recreation


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