Last Bit Flashcards
(119 cards)
What is Cultural relativism
different rights are relevant in different cultural contexts.
What is the Universal Declaration of Human Rights (UDHR)
defines the basic civil, political, economic, social, and cultural rights that human beings should enjoy.
What is Portfolio investment
Portfolio investment: investing in another country’s securities
What are economic liberalist views on human nature
Individuals act in rational ways to maximize their self interest
What are economic liberalist views on relationship among individuals, society states, and markets
When individuals act rationally markets are created to produce distribute and consume goods markets function best when free of government interference
What are economic liberalist views on relationship relationships between domestic and international society
International wealth maximize with free exchange of goods and services on the basis of comparative advantage international economy gains
What do mercantilism/ economic nationalism view human nature
Humans are aggressive, conflictual tendencies
What do mercantilism/ economic nationalism view on relationships among individuals, society, states, and markets
Goal is to increase state power achieved by regulating economic life economic is subordinate to states interest
What do mercantilism/ economic nationalism view on relationships between domestic and international society
International economy is conflictual insecurity of anarchy breeds competition states defend themselves
What are economic radicalism views on human nature
naturally cooperative as individuals conflictual in groups
What are economic radicalism views on relationships among individuals, society, states, and markets
competition occurs among groups particularly between owners of wealth and laborers
groups relations are conflictual and exploitive
What are economic radicalism views on relationships between domestic and international society
conflictual relationships because of inherent expansion of capitalism
seeks radical change in international economic system
what are the central propositions of mercantilism
national power and wealth tight connected
trade provides one way for countries to aquire wealth from abroad only if balance of trade is positive
Bullionism
Some types of economic activity are more valuable than others
what is bullionism
states should deter or forbid the outflow of specie (gold and silver)
what are mercantilisms ideas behind economic wealth
instrument of state power
what is Jean-Baptiste Colbert
idea states need to accumulate gold and silver to guarantee power
what is protectionism and who believed in it strongly
Measures to protect ones own economy from foreign competition in the name of national interest
Hamilton
what is economic nationalism
Powerful states compete economically; their economic policies are subservient to the national interest (defined as the quest for power).
what form of economic ideology should states use to strengthen their economy
States should practice interventionism to strengthen their economy.
in economic nationalism how is trade seen
Trade is viewed as a zero-sum game.
who is known for their ideas advocating free trade
Adam Smith’s Wealth of Nations
what is economic liberalism
minimal gov intervention
free trade between states
worldwide wealth is maximized by trade
who believed in economic liberalism
Adam smith
what did Adam smith believe about human kind
humans acting rationally in self interested ways leads to benefits for all