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Liberalism

2. Modern liberal conceptualization of government's proper role is as an impartial protector of rights "and to serve as a means by which citizens can collectively pursue goals which they cannot attain as individuals" (Clark 96). These goals, however, must also be impartial: not self-interested but rather aimed at the public interest. In this view, only the government has the reach and power to realize (= make real) the goals of public interest, largely because unfettered market forces, or market "failures" (119), mandate a government role in mediating their effects for the public good. Clark cites five failures: Lack of perfect competition implies maldistribution of economic and social power as a consequence of monopolistic or oligopolistic industrial organization (119-20). Exernalities refer to market behavior that either excludes the public from that benefit of such behavior or creates a hazard to the public on account of the behavior. Only government can intervene to exploit the benefits of that market behavior for the public good or protect the public from its hazards. Instability is a consequence of boom-and-bust cycles; government monetary policy can "promote a more efficient allocation of resources" (121). Inequity means maldistribution of wealth via unfettered markets that maximize efficiency and wealth concentration. Clark cites taxation as a method for equalizing concentration of wealth. For example, luxury items such as yachts, which only the wealthy can buy, are subject to an excise tax that is not paid by those who cannot benefit from yacht ownership. Socially undesirable outcomes refer to market behavior that creates more problems than it does benefits to the public good. An example of government's role in adjusting for such outcomes would be bans on smoking in public places (121).

The actual role of government vis-a-vis modern liberal theory is that interest groups compete for favorable government treatment where publ...

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Liberalism. (1969, December 31). In LotsofEssays.com. Retrieved 18:30, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1706986.html