Social Contract Theory of John Locke Research Paper

Social Contract Theory of John Locke - Research Paper Example The US constitution includes the Bill of rights, which protects the freedom, liberty, and other rights of the individuals; at the same time, the constitution specifies the scope of authority of the President, the Judiciary, and the Congress. Thus, the constitution in its true sense in indeed a contract between the individuals and the state, whereby the natural laws of the individuals are intact and the state authority has been specified as well. Moreover, the criminal justice system also follows the principals of Locke`s social contract theory, as the system ensures that the rights and the belongings of individuals are protected, and, by collective submissiveness to law, all citizens empower the system to take punitive action against the violators. In this context, one can conclude that freedom leads to complete independence and liberation; however, as per the social contract, one also has to fulfill the duties and comply with ethical standards to obtain one`s own rights. Social cont ract is an intellectual, even political theoretical paradigm, which focuses on the origins of the society and the legitimacy of the state authority over the individuals of the state. The basic tenet of this theory implies that the individuals of the state have permitted the state to exercise power over them to protect their rights and freedoms; in other words, there is a social contract between the state and the individuals – the people will give authority to the government and, in turn, seek the protection of their natural laws. Different theorists have come up with their own versions of the theory, with the same basic assumptions but, however, with minute differences in the perspectives. Hugo Grotius (1625) gave the idea of the natural laws and argued that all individuals should comply with the moral and religious values to ensure that everyone receives their due share of rights. Thomas Hobbes has an important contribution to the development of the theory, as he suggested t hat a social contract resulted between individuals and the state due to the anarchy, which was the reason behind poor living conditions of the individuals. Rousseau, on the other hand, gave a different version of the theory, as he believed that the general will of the people should be considered for the social contract, as every person has the right to express his or her will – thus he aimed at attaining social contract not by collective will but rather by the general will of the individuals. However, Pierre-Joseph’s version of the social contract implies that the contract is a result of the individuals trying to avoid coercion from other individuals; he argued that the contract is a result of â€Å"†¦ An agreement with a man to a man...† (Morris, 1990). However, Locke`s form of social contract theory implies that the individuals would willingly form a state in an effort to protect their natural rights by virtue of the state, which would further be discusse d in detail. (Morris, 1990) John Locke is of the view that the natural law transcends all other man-made laws, and thus, to protect these natural laws, the individuals themselves willingly give authority to

What advantages does a herfindahl-type index have as a measure of Essay

What advantages does a herfindahl-type index have as a measure of industrial concentration over an n firm concentration ratio - Essay Example There are two main differences of the Herfindahl index with the concentration ratio. The Herfindahl index uses all the firms market shares rather than using any particular number of the largest firms and furthermore, it uses the squares of the values of the market shares to compute the extent of concentration. So,if we assume N firms in the industry, the Herfindahl index looks like: To identify the relative advantages of the Herfindahl type index it is pertinent to note the desirable properties such competitiveness indices should exhibit. First, any competitiveness index should exhibit a decreasing trend with a rising number of firms. This is simply a reflection of the fact that as the number of firms increases the competitiveness rises and hence any index that captures the extent of concentration in the industry should reduce in value (Tirole, 1988). Secondly, any index of concentration should also be non-increasing if not declining with an increase in the extent of symmetry in the market shares of the associated firms (Tirole, 1988). Thus, having perceived the basic features any adequate index of concentration should have, we now proceed to comparatively analyse the two aforementioned measures in the extents they meet up to these requirements. Evidently, the concentration ratio as well as the Herfindahl index both satisfies the first requirement. Both of the indices shall exhibit declining trends as the number of firms start rising since the individual market shares as a percentage of the total market output shall fall. However, the concentration ratio fails to satisfy the second requirement. If there was a redistribution of market shares among the considered firms with some of them gaining higher market shares while that of the others fell so that the total market share of these firms taken together remained the same, the concentration ratio would not change. However, in the Herfindahl index, the squared values of the individual market