"Tippecanoe and Tyler Too!"
<span>The Human Development Index (HDI) is a measure of average achievement in key dimensions of human development. The United Nations maintains this index. </span>
Some indicators that the HDi measure are:
- education
-gross national income
-life expectancy
As I understand it, Laissez-faire ideology maintains that the "free market" is the best way to determine what businesses can and should do. This means that businesses, in competition with one another, should be free to determine their paths free from any government rules or regulations. The belief is that the competition among various businesses will ultimately result in the best outcomes for society in general - Adam Smith's "invisible hand". As part of this philosophy, workers should also be free to compete with each other and choose to work wherever they wish and this process will also result in the best results for the workers as well.
However, isn't there a huge assumption in this philosophy? Doesn't the whole justification of this belief depends on the condition that there is perfect competition and that any company and any worker have the equal ability to compete with one another?
What if there is no perfect competition? What if some companies have advantages - due to any of a whole array of reasons - that place them in a non-competitive position vis a vis their competitors? Without perfect competition then other companies are not necessarily able to compete with other companies that have certain advantages. If such a situation exists, then advantaged companies may have the ability to pursue a course that results in their private benefit, but not necessarily to the benefit of society as a whole. The same would apply to workers in that reduced competition among companies would result in decreased leverage for potential employees.
To recap, if the Laissez-faire ideology maintains the best economic policy for society as a whole, and it depends on there being perfect competition on an ongoing basis with minimal government intervention, doesn't it fall apart if there is less than the perfect competition?
An Incan citade in the Andes mountains in Peru. (Above the Urubamba River Valley) The original use of it is not known, but we do know it was built in the 15th century.
The organization is called the League of Nations
The League of Nations was an international body created by the Treaty of Versailles on June 28, 1919. It was proposed to establish the bases for peace and the reorganization of international relations once the First World War.
The League of Nations was based on the principles of international cooperation, arbitration of conflicts and collective security. The Covenant of the SDN (the first 26 articles of the Treaty of Versailles) was written in the first sessions of the Paris Conference, which began on January 18, 1919, at the initiative of the President of the United States, Woodrow Wilson.
