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Politics, Investments & Current Affairs Yea... title kind of explains what this forum is about.
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Old 10-23-2003, 07:58 PM
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Contrast and relativities

I was reading Taranaki's suggestions about possessing positions in the political landscape and thought it might interest some of the patrons if I provided some framework to understanding some relativities in the debate. I could be out on a limb here but for some it may be worth explaining a bit more - if you want me to continue, post here or PM.

So we have to start somewhere so I'll start somewhere...

Most political analysts can describe political views along a continuum from left to right. This distinction apparently owes itself to the way representatives chose to seat themselves within a French legislative council with those possessed of conservative and laissez faire approach to regulation in the right hand side of the building and those who possessed views of a higher level of regulation and that the state should have a more significant role in government in the left side of the building.

Most political parties in Western Economies tend to be more tied to centrist modes with variations described as centre-left or centre-right although political elements with stronger leanings do exist in governments particularly those with proportional representation systems.

So what's the difference - well this is way I'd describe the viewpoint of the centre-right.

Laws - Generally:
Exist to ensure the rights of the property ownership except where the exercise of those rights infringe the costs to the public as a whole. Therefore, would tend to encourage self-regulation using market forces rather than prescription.

Laws - Criminal:
Tend to be stronger here - mainly to ensure emphasis of the property rights of ownership over personal freedom.

Economic:
That capitalism provides the mechanism for the most efficient allocation of resources and capital. Successful organisations will garner the most resources and therefore become stronger. However, some regulation must exist to prevent monopolistic power threatening competition in marketplace.

Social:
State's role is that of regulator only and resource allocation best left to the market - except to control monopolies. A smaller, cheaper government is the goal.

In contrast...

Centre Left

Laws - Generally:
That market failure exists and capitalism does not necessarily allocate resource efficiently and does not take into account the element of the provision of public goods or the benefits to society as a whole. As a result, more prescriptive legislation may be required to prevent property owners exploit resources for personal gain where the costs to public and society in general exceed acceptable levels.

Laws - Criminal:
Tend to emphasize some personal freedoms over property rights. May impose controls on the exploitation of property rights and resources including human capital.

Economic:
That capitalism can be inefficient and does not recognise societal or public benefit that cannot be priced. Will tend to impose heavier and more comprehensive regulatory mechanism and/or compensating factors such as wealth transfer to offset the negative effects of the captialist model.

Social:
State's role is to provide for all citizens and to assist in the allocation of resources.
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