Political Economy of Redistribution Flashcards
1
Q
Inequality
A
- lower in richer countries, low in some very poor countries
- US just below nigeria, just above russia
- inequality on the rise globally
- rises due to economic structures, degree of redistribution, size/role of state
2
Q
economic liberalism
A
- free market capitalism
- private ownership of means of production
- markets allocate resources
- laissez -fair capitalism
- –europe 16th
- –industrial rev 18th-19th
- –state-intervention post 1945
- –neoliberalism 1980s
- US, UK
3
Q
communism (state socialism)
A
- collective (state) owner ship of means of production
- state determines allocation of economic resources
- origins:
- –marx, marxist movements: mid 19th
- –russian revolution 1917
- –spread, collapse, reform
- –ex. today: North korea
4
Q
social democracy
A
- distinct from socialism/communism
- limited state ownership, capitalism is vital to this system
- LARGE WELFARE STATE softens effect of market
- reduces inequality, provides security
- origins
- –split in socialist movements early 20th
- social democratic parties
- Sweden
5
Q
state-led development
A
- AKA statism
- mercantilism
- Today: active state role in economy
- focus on competitiveness
- promote industrial champions, state-owned enterprises, maximize exports
- origins
- –16th-18th centuries: europe
- –Post 1945: E. Asia, france
- Ex. Japan, S. Korea
6
Q
neo-liberalism
A
- 1980s onward
- roll back of the state out of economy after state intervention post 1945
7
Q
welfare state
A
- state funded social protection
- taxes, benefits, services
- redistribution
- —vertical: rich to poor
- —horizontal: people w/o children to parents
- protect against risk
- health insurance, SS, parental leave, unemployment
- rich democracies have a welfare state due to electoral demand, values
8
Q
Four doctrines
A
- economic liberalism
- communism (state socialism)
- social democracy
- state-led development
