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Mill rejects the notion of natural rights and argues that we should promote a democracy dedicated to individual liberty because that will maximize happiness. But he cautions against the "tyranny of the majority," asserting that every educated adult must be free to do what he or she desires. "The only freedom which deserves the name," he says, "is that of pursuing our own good in our own way, so long as we do not attempt to deprive others of theirs." The only legitimate reason for a government to interfere with someone's liberty against his or her will is to prevent harm to others.
-Rawls believes that the veil of ignorance sometimes actually exists in society.
Market Efficiency
A financial theory stating that asset prices fully reflect all available information, making it impossible to consistently achieve higher returns.
Efficient Capital Market
Market in which security prices reflect available information.
Security Prices
The cost or price of financial instruments such as stocks, bonds, and derivatives, determined by market supply and demand.
Compound Return
The process by which an investment grows over time as earnings from both the principal and the accumulated earnings from preceding periods.
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