1. Political Economy and Machiavelli's The Prince
It is important to understand the role of the government in order to understand the theorist point of view of economic regulatory practices and interference. ... In Leviathan, Hobbes explicitly sets out his moral and political philosophy with regard to human nature, the state of nature and an absolute sovereign in whom the power of the people is invested. ... If humans are irrational, and sovereignty is necessary, we can conclude that government intervention is necessary to control a market if in Hobbes world, or that otherwise, it would be just as Adam Smith would want it, rather left alone. ...
- Word Count: 1585
- Approx Pages: 6
- Grade Level: Undergraduate