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The way things have always been. Sometimes, no reason for why traditional routines can be given. Is unlikey advertising can break through tradition because it is more like change. People fullfilling duties seem to be doing them for religious reasons; for a higerpower or to meet some social collective goal. It relies on direction from the past.
Some direct while others follow. Leads in a present-top manner instead of direction from the past like in tradition. advertising may still be a presence to reinforce decisions that have already been made-e.g., practice family planning in line with government policy---or, as decentralization of authority allows, to offer individuals real alternatives-e.g., government brands competing against imported brands.
- focused on SOVEREIGN INDIVIDUAL.
- it is assumed to be self-perpetuating and self-correcting, with the good of the whole ensuing from self-centered actions of individuals-"as if by an invisible hand."
- Egoism- acting in own self interest to fulfill their own wants.
- intellectualism- person is RATIONAL. deliberate and calculating. can make up their own mind about what they want.
- Quietism- will only make an effort when they are promised a reward/gift. Thus, in the absence of an acceptable stimulus, the individual will remain "quiet," apathetic, disinterested
Market system in classical liberalism
the priorities of the society should bedetermined not by the weight of custom or the directives of the few, butrather by the aggregate of individual decisions--all individuals, not simplythe elect or the select.
Thus, in order for the market mechanism to perform its task of resource allocation with greatest efficiency,....
individuals must be stimulated to put forth effort in the pursuit of self-interest, they must be deliberate and calculating in that pursuit, and there must be a sufficient number of buyers and sellers so that no one or few can influence the process
what will be produced? (classical liberalism)
aggregate demand determines the types and qualities of what is to be produced.
to whom will it be distributed?
The output of the market system will be distributed to whomever has money to pay for its offerings
how will the work of society get done? (classical liberalism)
Since the market visionaries assumed a geographically mobile labor force (a crucial condition), self-interested individuals would seek employment wherever wages were highest.
"The great flaw in the market,"
one may hear from some sectors, "isthat it provides no incentive for social responsibility on the part of theparticipants."
What would you like to do?
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