Unit 2 Flashcards
(60 cards)
Classical Liberalism
an ideology that is based on the belief that the rights and freedoms of the individual should be the foundation for society. It was largely embraced during the 1800s in Europe, especially in its emphasis on a capitalist free-market economy
modern liberalism
an ideology that developed over time to address concerns with the inequality and injustices created by a capitalist society, while remaining focused on individual rights
Mercantilism
an economic system, common in Europe from the 1500s to the 1700s, based on the beliefs that a country should export more goods than it imports, accumulate wealth in gold and silver, and protect its economy by taxing and setting quotas on imports.
Industrial Revolution
economic and social changes, such as the ones that began in England in the late 18th century, that occur when extensive mechanization of production systems results in a shift from home-based hand manufacturing in rural areas to large-scale factory production in cities
Mixed Economy
an economic system in which free-market principles are combined with some degree of government intervention, usually to regulate industry, moderate the boom- and-bust nature of the free-market business cycle, and offer social welfare programs
Laissez-Faire Capitalism
a French term meaning “leave alone”.government does not intervene in the free market;
Free Market Economy
an economic system that operates with limited government intervention.questions regarding production and pricing of goods and services are decided through the free interaction of producers and consumers.
The Invisible Hand
an economic idea proposed by Adam Smith who states that the economy will run smoothly if everyone pursues their own self interests
Socialism
any ideology based on the belief that collectivist values, such as collective responsibility, collective interest, cooperation, economic equality, adherence to collective norms, and public property, should be the foundation for political, economic, and social life
Labour Unions
organized groups of workers who try to improve the working conditions and wages for a specific group of workers or for an entire industry
Planned/Command Economy
an economic system based on public (state) ownership of property, in which government planners decide which goods to produce, how to produce them, and how they should be distributed
Welfare State
a society in which the government plays a large role in providing for the needs of its citizens through publicly funded social programs (for example, old age pension, unemployment insurance, education, health care, and public housing), based on the principles of equality of opportunity and equitable distribution of wealth.
Economic Gap
the difference in wealth between wealthy members of society and poor members of society
The Great Depression
an economic crisis that began with the stock market crash in 1929 and continued through the 1930s. During this time, banks failed, factories closed, many people became unemployed, and international trade declined
Feminism
a political movement involving organized efforts to achieve political, social, and economic equality for women
Communism
an ideology based on the belief that the oppressed working class must overcome its property-owning oppressors through revolution, so that together they can work towards becoming a classless society in which property is owned by the community
Facism
Society as a whole has a shared purpose, and they want to take over other states and dominate- as well as dominating over “weak” cultural groups- this can only be achieved through obedience, discipline, and a powerful state
Deterrence
the Cold War foreign policy of both major powers, aiming to deter the military advances of the other through developing and building up arms, especially nuclear weapons
Expansionism
a political and military policy of taking over additional territory through the violation of another country’s sovereignty, for reasons that can include defense, access to resources or markets, national pride, or perceived racial superiority
Brinkmanship
international behaviour or foreign policy that takes a country to the brink of war; pushing one’s demands to the point of threatening military action
Detente
a period of the Cold War from the mid-1960s to 1979, during which the major powers tried to lessen the tensions between them through diplomacy, treaties, arms talks and reductions, and cultural exchanges
Containment
the US Cold War foreign policy of stopping the spread of communism by establishing strategic allies around the world through trade and military alliances
Which ideology is linked with Hitler?
Nazism / Facism
Which ideology is linked with Stalin?
Communism / Stalinism
