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39 Cards in this Set

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What is Modernizing Authoritarianism?
to seek and to promote stability in the under-developed countries. An authoritarian regime, though less 'democratic' may possess much more stability and may well lay the ground for ultimate return to foreign investments.
What is Keynesian economics?
predominantly private sector, but with a large role of government and public sector—and served as the economic model during the latter part of the Great Depression, World War II, and the post-war economic expansion (1945–1973), though it lost some influence following the stagflation of the 1970s. The advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought.
What is Theocracy?
A Government where religion is the main power and many governmental decisions are based on religion, Like Iran in the 1970's
What is Thatcherism
Based on Margret Thatcher. It is monetary supply side economics theory. The basis of conservative British politics and very similar to President Regan. She has had influence on the governments of John Major, Tony Blair, Gordon Brown and David Cameron.
What is Free market capitalism
lazie faire, invisible hand, Government should not intervene and if a company fails its because it wasn't supposed to continue
What is Free Market Model
A free-market economy is an economy where all markets within it are unregulated by any parties other than those players in the market. In its purest form the government plays a neutral role in its administration and legislation of economic activity neither limiting nor actively promoting it (for example neither regulating industries let alone owning economic interests nor offering subsidies to businesses let alone protecting them from internal/external market pressures). Such an economy in its most radical form does not exist in developed economies, however efforts made to liberalise an economy or make it "free-er" attempt to limit the role of government in such a way.
Keith Joseph
Joseph's political achievement was in pioneering the application of monetarist economics to British political economics, and in developing what would later become known as 'Thatcherism
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest to attain a set of objectives oriented towards the growth and stability of the economy.[1] These goals usually include stable prices and low unemployment. Monetary theory provides insight into how to craft optimal monetary policy.
Political Economy
Political economy most commonly refers to interdisciplinary studies drawing upon economics, law, and political science in explaining how political institutions, the political environment, and the economic system—capitalist, socialist, mixed—influence each other. "Traditional" topics include the influence of elections on the choice of economic policy, determinants of electoral outcomes, the political business cycles,[6] central-bank independence, redistributive conflicts in fiscal policy, and the politics of delayed reforms in developing countries and of excessive deficits.
Deficit spending
When a country spends more than it receives in order to boost the economy during a slump
Little “n”
A single case study that focuses on only one country
State Strength
Legitimacy and Capacity
RENT SEEKING
rent seeking occurs when an individual, organization or firm seeks to earn income by capturing economic rent through manipulation or exploitation of the economic or political environment, rather than by earning profits through economic transactions and the production of added wealth
Developmental state,
or hard state, is a term used by international political economy scholars to refer to the phenomenon of state-led macroeconomic planning in East Asia in the late twentieth century. In this model of capitalism (sometimes referred to as state development capitalism), the state has more independent, or autonomous, political power, as well as more control over the economy. A developmental state is characterized by having strong state intervention, as well as extensive regulation and planning. The term has subsequently been used to describe countries outside East Asia which satisfy the criteria of a developmental state. Botswana, for example, has warranted the label since the early 1970s.[1] The developmental state is sometimes contrasted with a predatory state or weak state
Friedrich von Hayek
Wrote the road to serfdom, opposite of Kension economics
Deficit Spending
Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views.[1] The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit: in an economic slump, government should run deficits, to compensate for the shortfall in aggregate demand, but should run corresponding surpluses in boom times so that there is no net deficit over an economic cycle – a cyclical deficit only. This is derived from Keynesian economics, and has been the mainstream economics view
Rational Choice Theory
Theory in microeconomics that we all want to consume more not less
clientelism
A political machine (or simply machine) is a disciplined political organization in which an authoritative boss or small group commands the support of a corps of supporters and business (usually campaign workers), who receive rewards for their efforts. Although these elements are common to most political parties and organizations, they are essential to political machines, which rely on hierarchy and rewards for political power, often enforced by a strong party whip structure. Machines sometimes have a political boss, often rely on patronage, the spoils system, "behind-the-scenes" control, and longstanding political ties within the structure of a representative democracy. Machines typically are organized on a permanent basis instead of for a single election or event. The term may have a pejorative sense referring to corrupt political machines
Political culture
he American political culture is deeply rooted in the colonial experience and the American Revolution. The colonies were exceptional in the European world for their the vibrant political culture, which attracted the most talented and ambitious young men into politics.[5] First, suffrage was the most widespread in the world, with every man who owned a certain amount of property allowed to vote. While fewer than 1% of British men could vote, a majority of white American men were eligible. While the roots of democracy were apparent, nevertheless deference was typically shown to social elites in colonial elections.[6] That deference declined sharply wit the American Revolution. Second, in each colony a wide range of public and private business was decided by elected bodies, especially the assemblies and county governments.[7] Topic of public concern and debate included land grants, commercial subsidies, and taxation, as well as oversight of roads, poor relief, taverns, and schools. Americans spent a great deal of time in court, as private lawsuits were very common. Legal affairs were overseen by local judges and juries, with a central role for trained lawyers.
public Good
in economics, a public good is a good that is non-rivalrous and non-excludable. Non-rivalry means that consumption of the good by one individual does not reduce availability of the good for consumption by others; and non-excludability that no one can be effectively excluded from using the good.Such as free MP3 files over the internet
The social market economy
it seeks a market economic system rejecting both socialism and laissez-faire capitalism, combining private enterprise with measures of government regulation in an attempt to establish fair competition, low inflation, low levels of unemployment, a standard of working conditions, and social welfare. Erhard once told Friedrich Hayek that the free market economy did not need to be made social but was social in its origin.[1] The term "social" was chosen rather than "socialist" to distinguish the social market economy from a system in which the state directed economic activity and/or owned the means of production,[2] which are privately-owned in the social market model.

In a social market economy, collective bargaining is often done on a national level not between one corporation and one union, but national employers' organizations and national trade unions.
Asian Tigers
The Asian Tigers is a Pakistani militant group, first publicised when they claimed credit for the kidnapping of former Pakistani intelligence officers, and british press. 1 was killed 1 reamians, 2 were released.
Autonomy
n the United States government, autonomy refers to one's own self-governance. One former example of an Autonomous jurisdiction into the United States government belong to the Philippine Islands; The Philippine Autonomy Act of 1916 provide the framework for the creation of an autonomous government providing the Filipino people (Filipinos) broader domestic autonomy, though it reserved certain privileges to the United States to protect its sovereign rights and interests.
Political Socialization
study of the developmental processes by which children and adolescents acquire political cognition, attitudes and behaviors
Winter of Discontent
The "Winter of Discontent" is an expression, popularised by the British media , which refers to the winter of 1978–1979 in the United Kingdom, during which there were widespread strikes by local authority trade unions demanding larger pay rises for their members, and because the government of James Callaghan sought to hold a pay freeze to control inflation. And helped Margret Thatcher win office.
Stagflation
a period of slow economic growth and high unemployment (stagnation) while prices rise
Corporatism
Political system in which power is exercised through large organizations (businesses, trade unions, etc) working in concert with each other, under the direction of the state
Central Banks
National banks of countries that act on behalf of a nation regarding economic issues and monetary policy.
Liberal Democracy
is a common form of representative democracy. According to the principles of liberal democracy, the elections should be free and fair, and the political process should be competitive. Political pluralism is usually defined as the presence of multiple and distinct political parties.
Brenton Woods
An international monetary system operating from 1946-1973. The value of the dollar was fixed in terms of gold, and every other country held its currency at a fixed exchange rate against the dollar; when trade deficits occurred, the central bank of the deficit country financed the deficit with its reserves of international currencies. IMF.
Consociationalism
is a form of government involving guaranteed group representation, and is often suggested for managing conflict in deeply divided societies. It is often viewed as synonymous with power-sharing, although it is technically only one form of power-sharing.[1]

Consociationalism is often seen as having close affinities with corporatism; some consider it to be a form of corporatism while others claim that economic corporatism was designed to regulate class conflict, while consociationalism developed on the basis of reconciling societal fragmentation along ethnic and religious lines.
Civic Nationalism
Liberal nationalism is a kind of nationalism identified by political philosophers who believe in a non-xenophobic form of nationalism compatible with liberal values of freedom, tolerance, equality, and individual rights
Salvador Allende
was a Chilean physician and is generally considered the first democratically elected Marxist to become president of a country in the Americas.
Allende's involvement in Chilean political life spanned a period of nearly forty years. As a member of the Socialist Party, he was a senator, deputy and cabinet minister. He unsuccessfully ran for the presidency in the 1952, 1958, and 1964 elections. In 1970, he won the presidency in a close three-way race.
Evo Morales
Morales is the first indigenous president of Bolivia. He is the leader of a political party called the Movement for Socialism. MAS was involved in social protests such as the gas conflict and the Cochabamba protests of 2000, along with many other groups, that are collectively referred to as "social movements" in Bolivia. The MAS aims at giving more power to the country's indigenous and poor communities by means of land reforms and redistribution of gas wealth
Chicago Boys
10 U. of Chicago Economist that formed a coup against Allende in the 70's.
South Korean economic model
The most significant factor in rapid industrialization was the adoption of an outward-looking strategy in the early 1960s. This strategy was particularly well suited to that time because of South Korea's poor natural resource endowment, low savings rate, and tiny domestic market. The strategy promoted economic growth through labor-intensive manufactured exports, in which South Korea could develop a competitive advantage. Government initiatives played an important role in this process. The inflow of foreign capital was greatly encouraged to supplement the shortage of domestic savings. These efforts enabled South Korea to achieve rapid growth in exports and subsequent increases in income.
Co-determination
Co-determination is a practice whereby the employees have a role in management of a company. The word is a literal translation from the German word Mitbestimmung. Co-determination rights are different in different legal environments. In some countries, like the USA, the workers have virtually no role in management of companies, and in some, like Germany, their role is more important.
Keiretsu
system, series, grouping of enterprises, order of succession is a set of companies with interlocking business relationships and shareholdings. It is a type of business group. A grouping of Japanese firms through historic associations and equity interlocks such that each firm maintains its operational independence but establishes permanent relations with other firms in its group
Augusto Pinochet
as a Chilean army general and president who assumed power in a coup d'état on 11 September 1973. Among his titles, he was the Commander-in-Chief of the Chilean army from 1973 to 1998, president of the Government Junta of Chile from 1973 to 1974 and President of the Republic from 1974 until transferring power to a democratically elected president in 1990.[2]

At the beginning of 1972, Pinochet was appointed General Chief of Staff of the Army. In August 1973, he was appointed as Commander-in-Chief of the Chilean Army by president Salvador Allende.[3] On 11 September 1973, Pinochet led a coup d'état which put an end to Allende's democratically elected socialist government.