During the seminar, I learned of the Prevailing Rhetorics. One of which was "Let the laws and forces of the Market Prevail. Adam Smith the author of "The Wealth of Nations" goes on to explain that, "By pursuing his own interest he frequently promotes that of the society more efftectually than when he really intends to promote it." What Smith is Saying here is that he believes that if we all do what is best for us it will in return better the economy as a whole, and that if we were all to focus and making the economy better we would do a much worse job then if we had concentrated on our selves and let the laws and forces of the market prevail. Here are some quotes and expressions that back up Adam Smith's Idea.
"The government that governs least governs best.".
-"Get the government off our backs and out of our pockets".
-"I worked hard for my money and the no one else has any right to it.".
-"Cut Taxes!".
-"It will stimulate the economy and create jobs.".
-"I don't want o abolish government, I simply want to starve it to the size where I can drag it into the bathroom and drown it in the bath tub!".
Also during the seminar we learned of the Catholic Social Teachings, the Principle of subsidiary and the principle of common good. The principle of subsidiary says that, "A community of a higher order should not interfere with the life of a community of a lower order taking its functions. The principle of common good says that, "in case of need it should rather support the smaller community and help it." While at the seminar both the McDuck Theory of Money and the Economist's Theory of money were both explained. The McDuck Theory is really how children see economics. All they know is that money comes from either Mom or Dad the ATM or an Employer. But the real question is where did the ATM the employer and Mom and Dad get the money. That's where the Economist theory comes in. It says that money comes from circulation through the common good, which is done through trust and interdependence.
