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47 Cards in this Set
- Front
- Back
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Market Economy |
individuals and firms exchange good and services without government interference |
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capitalism |
Market economy PLUS private property rights |
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Command economy |
price, property and production controlled by the state |
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essential and beneficial roles of the state both involve... |
public goods |
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Externalities |
pollution and long term health |
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imperfect information |
variable interest rate mortgage and mortgage-backed securities |
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monopolies |
competition removed, so key to efficiency is gone. can occur naturally |
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Keynesianism |
the state could and should be more involved in economic crises and fiscal policy to minimize boom and bust cycles. Government should engage in deficit spending |
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Stagflation |
a problem for keynes in that high inflation and high unemployment can't be fixed by more government spending and borrowing... makes the situation worse by increasing inflation |
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Monetarism |
Milton Friedman; only monetary policy can affect economic well-being in capitalism. Gov't should be LESS involved in economy. |
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comparative advantage |
maximum benefit if all produce what they do best and trade with others doing the same...EFFICIENT |
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structural adjustment programs |
world bank and IMF programs (loans) that require neoliberal reforms such as privatizing industry, reduce deficits, less gov't spending, and free trade |
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vertical accountability |
between gov't and the people |
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horizontal accountability |
between branches of gov't |
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coalition gov't |
parliamentary practice requiring at least 2 parties to negotiate to rule |
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veto player |
parties with veto power over policies and laws; SHOULD make gov't more horizontally accountable |
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cohabitation |
president and PM from different parties; forces compromise |
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how is chief executive chosen? who is the chief executive? How long is the term? parliamentary system |
no idea |
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semi-presidential |
executive power s divided between a directly elected president and a prime minister chosen by parliament |
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common law |
British origin; judges base decisions on written law AND past court decisions |
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code law |
roman and french origin (napolean); judges may only follow the law and make decisions based upon the real law-- no interpretation or past decisions |
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judicial independence |
judges must be willing and able to act independently when making decisions; there should not be undue influence from outside groups or individuals in power |
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Principal-agent problem |
interest of the hired doesn't align with that of the elected; can lead to corruption |
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political appointees |
serve at the pleasure of the president or PM; oversee bureaucracy in a way consistent with those in power want |
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devolution |
recent trend in federalism; decentralization of power from central power to lower levels |
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single-member districts |
how do you get elected? proportional representation |
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closed-list |
party provides ranked list of candidates; voters vote for the party |
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open-list |
voters vote for actual candidates and seats are allocated based upon party performance and given to individuals with the most votes |
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alternative-vote |
SMD system where voters rank each candidate; after the first-place votes are counted, the lowest ranked candidate has votes reallocated based upon voter's second choice |
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conservatives |
strong state, nationalism, preservation of social fabric, free market |
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liberals |
CLASSIC liberalism; free market and limited social programs and limited government |
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socialists/social democrats |
largely the voice of labors/workers; expanded social welfare |
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communists |
expanded social welfare BUT only in elections until revolution occurs |
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right-wing extremists |
severe nationalism and anti-immigration |
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ecology movement |
socialist BUT environment first |
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dominant party system |
multiple parties but the same one always wins |
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two-party system |
multiple may exist, but only two are actually in contention |
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two-and-a half party system |
two dominate, but typically they need the third party to join and form a coalition to govern |
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social movements |
a component of civil society where citizens perceive inadequate representation and inequality to politics and government. these individuals work together to seek socioeconomic or political change through collective action |
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types of authoritarian |
one-party, personalist, military, theocratic, semi-authoritarian |
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dictator's dilemma |
repression creates fear, which breeds uncertainty about actual support of the ruler, so the paranoia leads to making irrational choices and spending too much to try and ensure support |
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4 means of maintaining control |
repression, buying loyalty, Co-Optation and legitimation |
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repression |
expensive but effective |
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buying loyalty |
as discussed under dictator's dilemma, paranoia is especially strong in those who came to power by military overthrow |
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Co-Optation |
utilize formal institutions such as legislature or bureaucracy to "keep your enemies closer" |
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legitimation |
institutions without real power |
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collective action dilemma |
multiple individuals would benefit from a certain action |
