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21 Cards in this Set
- Front
- Back
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Adam smith |
-Considered the father of capitalism -Scottish economist -Wrote “The wealth of Nations” outlining how he thought capitalism should work |
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Anarchism |
-a society with no government -Responsibilities are voluntary and based on cooperation |
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Canadian Charter of Rights and Freedoms |
-Part of the constitution -Highest law in Canada -Signed by Pierre Trudeau |
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Capitalism |
An economic system based on -free markets -fair competition -wise consumers -profit motivated producers -minimum gov’t involvement |
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Classic liberalism |
-seen in the industrial revolution -civil liberties -economic freedom |
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Collective interest |
Something that benefits the society as a whole |
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Collective Norms |
Group imposed norms or standards on the members as a condition of membership in the group usually relating to conduct, values, or appearance |
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Collective responsibility |
Holding a whole group responsible for the actions of individuals |
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Collectivism |
An ideology in which the interests of the group come above the interests of the individual |
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Collectivization |
An economic policy where all land is taken away from private owners and combined in large, collectively worked farms |
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Common good |
The good of the community; something that benefits the public health safety and/or well-being of society as a whole |
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Communism |
A system of society with property vested in the community and each member working for the common benefit according to his or her capacity and receiving according to his or her needs |
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Competition |
Competition is seen as an incentive for individuals and groups to work harder and more efficiently |
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Co-operation |
Working together to the same end; a principal emphasized by collectivist ideologies |
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Deficit |
A deficiency; an excess of liabilities or expenditures over income or assets in a given period. Deficit spending by a government is spending that is financed by borrowing and may occur in order to kickstart a stagnant economy |
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Democracy |
A form of government in which power is ultimately vested in the people |
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Economic equality |
A principal common to collectivist ideologies which can have different meanings depending on the person or ideology. Governments may try to foster economic equality through tax policies and by ensuring that all people earn equal wages for work of similar value. |
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Economic freedom |
The freedom to buy what you want and to sell your labour, idea, or product to whomever you wish |
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Fascism |
An extreme, right wing, anti-democratic nationalist movement which lead to totalitarian forms of government in Germany and Italy from the 1920’s to the 1940’s |
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Thomas Hobbes |
A contributor in the making of liberalism who believed humans were inherently selfish and in order to achieve a safe society each individual must give up their rights to the central authority |
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Human rights |
AKA natural rights, the rights and freedoms to which all humans are entitled. These rights are .... |
