Ch 2 Vocab Free Trade - Neoliberalism

Front 1

Free Trade

Back 1

international commerce that is relatively unregulated or constrained by tariffs.

Front 2

Hegemonic Power

Back 2

a state that can control the pattern of alliances and terms of the international order, and often shapes domestic politica developments in countries throughout the world.

Front 3

Interventionist State

Back 3

acts vigorously to shape the performance of major sectors of the economy

Front 4

Constitutional Monarchy

Back 4

a system of government in which the head of state ascends by hereditary, but is limited in power and constrained by the provisions of a constitution.

Front 5

Whips

Back 5

leaders in both the commons and the lords, the whipshelp smooth the passage of legislation sponsored by the government, which is more or less guarenteed by a working majority.

Front 6

Laissez Faire

Back 6

the doctrine that government should not interfere with commerce.

Front 7

Welfare State

Back 7

a set of pubic policies designed to provide for citizens' need through direct or inderect provisions of pensions, health care, unemployment insurance, and assistance to the poor.

Front 8

Collectivism

Back 8

term used to describe the consensus that drove poltics in the harmonious postwar period when a significant majority of Britains and all major parties agreed that the state should take expanded responsibility for economic governance and provide for the social welfare

Front 9

Special Relationship

Back 9

a bond of language, culture, and national interests, which creates a close alliance between the U.S.A. and Britain

Front 10

Westminster Model

Back 10

emphasized that democracy rests on the supreme authority of a legislature.

Front 11

Neoliberalism

Back 11

term used to describe government policies aiming to promote free competition among business firms within the market; includes monetarism, privatization, reducing trade barriers, balancing government budgets, and reducing social spending.