Political Science Paper 1 Notes: Contants Page No
Political Science Paper 1 Notes: Contants Page No
NOTES
CONTANTS PAGE NO
Plato 2
Aristotle 6
Niccolo Machaiavelli 12
Thomas Hobbes 14
John Lock 15
Roussau 18
Stuart Mill 22
Vladimir Linin 24
Karl Marks 26
Ibn-e-khuldun 37
Nizam-ul-Tusi 40
Form of government 42
Capitalism 55
Fascism 55
Sovereignty 56
Law 59
Liberty / Freedom 62
Rights 63
Political participation 66
Pressure groups 69
Political parties 71
Propaganda 73
Structure of government (Legislature, Executive, Judiciary) 75
WESTERN POLITICAL THOUGHTS
Plato (428-347 BC)
Introduction
Plato (428-347 BC) is the Greek philosopher and one of the most creative and influential thinkers in
Western philosophy.
Plato was born to an aristocratic family in the Athenian democracy. His father, Ariston, was believed to
be descended from the early kings of Athens. Perictione, his mother, was distantly related to the 6th-
century BC lawmaker Solon. When Plato was a child, his father died, and his mother married Pyrilampes,
who was an associate of the statesman Pericles.
As a young man Plato had political ambitions, but he became disillusioned with the political leadership
in Athens. He eventually became a disciple of Socrates, who had pioneered the search for ethical truth-
through dialectical questions and answers with anyone claiming to have knowledge: Plato witnessed the
execution of Socrates by the Athenian democracy in 399 BC. Perhaps fearing for his own safety, he left
Athens temporarily and travelled to Italy, Sicily, and Egypt.
In 387 BC Plato founded the Academy in Athens, the institution often described as the first European
university. It provided a comprehensive curriculurn, including such subjects as astronomy, biology,
mathematics, political theory, and philosophy. Aristotle became the Academy’s most prominent
student.
Pursuing an opportunity to, combine philosophy and practical politics, Plato went to Sicily in 367 BC to
tutor the new ruler of Syracuse, Dionysius the Younger, in the art of philosophical. rule. The experiment
failed. Plato made another trip to Syracuse in 361 BC, but again his engagement in Sicilian affairs met
with little success. The concluding years of his life were spent lecturing at the Academy and writing. He
died at about the age of 80 in Athens in 348 or 347 BC.
FEATURES OF CAPITALISM
1) Property Rights:
Capitalism is characterized by private ownership of all non-labour factors of production. The owners of
these private properties have the power to control these factors of production as well as the goods and
services produced from such inputs. The owners have the freedom to decide what to produce, how to
produce and for whom to produce. The benefits owners are rewarded with from ownership of these
resources are rent from the use of their land, wages for the use of their labour, interest as a return on
their capital and profits from their entrepreneurial skills.
2) Coordination Structure:
Coordination under capitalist economies has a market mechanism in which market forces of demand
and supply are allowed to work in order to determine prices and output in the economy. The forces of
supply and demand push prices upward or downward in response to the decisions of individual buyers
and sellers. This mechanism is commonly referred to as Adam Smith's "Invisible Hand". Within this
economic system there is no state intervention to ensure that economic activities are carried out
properly and that economic goals are fulfilled.
3) Motivational Structure:
As a result of the self-interest of many economic agents, within this economic system, the market is
propelled by material incentives. Suppliers have an incentive to offer only those goods on which they
expect to make a profit.
4) Decision-making Structure:
There is no central decision-making mechanism. Market prices direct the actions of decentralized
decision makers. The various private parties that possess property rights to products and resources
decide by among themselves what to produce, how to produce and for whom to produce.
5) Information Structure:
The capitalist's information structure is decentralized because horizontal channels of information exists
where information and decision making is spread across the various agents in the economy who are on
the same level.
1. Economic Efficiency
Being efficient is being able to accomplish a task with minimum expenditure on as many levels as
possible. This performance criterion looks at how well the economy is able to allocate its resources to
best maximize its production on goods and services while taking the welfare of individuals into
consideration. A capitalist economy is efficient as it yields high levels of GDP, innovation is encouraged,
and one is allowed to exercise freedom of choice.
2. Economic Stability
Unemployment rate, inflation rate, and real economic growth are some of the economic indicators used
to determine economic stability within the economy. Economic stability in a capitalist market is unstable
due to fluctuations in inflation, unemployment as well as real economic growth.
3. Income Distribution
Capitalism renders unequal distribution of income in the economy. Income is distributed in accordance
to the skills and qualifications an individual possesses. Those possessing the skills, qualifications as well
as capital resources valued by the market will receive high incomes, whereas lower incomes will be
allocated to persons without such skills and resources.
4. Economic Growth
Economic growth can be measured as the increase in real GDP. Productivity is the key component, i.e.
producing more at a lesser operational cost.
ADVANTAGES OF CAPITALISM
DISADVANTAGES OF CAPITALISM
i. In a capitalist economy, wealth enjoys the prestige in the society, which results in erosion of
human values.
ii. There is a large-scale wastage of resources due to unnecessary competition.
iii. In capitalist system, owners of the means of production can earn more as compared to those
who do not possess much means of production. This brings wide inequalities in the distribution
of income and wealth.
iv. In modern capitalist market group rivalries and price wars, price-agreements etc. are commonly
found. Speculative practices also present in the system.
v. In capitalist countries, society possesses two classes such as haves and have-nots. Such
division results in conflict in the form of strikes, lockouts and industrial disputes in the economy.
Under capitalism, capitalists generally exploit the poor laborers.
vi. There is no coordination among the activities of different producers and consumers under
capitalism. It is entirely left to the operation of market mechanism; this gives rise to the problem
of inflation and deflation.
vii. Capitalist system creates unemployment problem also. Under capitalist economy, laborers are
not paid reasonably. So their purchasing power becomes less. This reduces the aggregate
demand in the economy, which results in less production and unemployment.
viii. Capitalism is basically a sellers’ market where consumer has no freedom. This is because, under
capitalist economy, producers enjoy monopoly in the market and produce substandard goods.
So, it is the producer who influences the market and not consume.
CONCLUSION
Over the years capitalism has evolved. Starting with the bartering system which led to slavery system,
then the feudalism followed by mercantilism then to capitalism. It was suggested by the classical school
of economics that government role should not be removed from economic system but, its role should
be limited only to protect individual rights and providing public goods and services. History reveals that
government is necessary and its role has expanded. We cannot deny that without government
intervention we would have fail. With government intervention capitalism has developed over the years.
Government involves in the form of nationalization, welfare and fiscal policies and minimum wage laws
which adds to the development of capitalism. In the today's world pure capitalism is not practiced but
rather a mix economy by former capitalist states like the United States where government plays a more
important role in market decisions.