Intro slides + Isms

Question 1

Democracy Definition

Answer 1

it is government by all:
- for the people
- by the people

A political system in which the citizens hold power

Question 2

Democracy example

Answer 2

ex: United Kingdom under Margaret thatcher and conservatism

Question 3

Dictatorship Definition

Answer 3

IT IS A POLITICAL SYSTEM IN WHICH A PERSON OR A SMALL GROUP OF PEOPLE EXERCISE ALL THE POWER WITHOUT RESTRICTIONS OF LAWS OR INSTITUTIONS

IT IS A SYSTEM IN WHICH THE PEOPLE HOLD NO POWER AT ALL

Question 4

Dictatorship Definition

Answer 4

EX: STALIN IN THE USSR AND COMMUNISM

Question 5

The origin of left and right

Answer 5

FOLLOWING THE FRENCH REVOLUTION, DURING DISCUSSIONS ON LIMITING THE ROYAL POWER,
THE SUPPORTERS OF CHANGE SAT ON THE LEFT SIDE OF THE ROOM AND THE SUPPORTERS OF STATUS QUO SAT ON THE RIGHT SIDE.

Question 6

Left values

Answer 6

PROMOTION OF SOCIAL PROGRESS
- FREEDOM
- EQUALITY
- STRONG DESIRE TO TRANSFORM SOCIAL ORDER
- PROGRESSIVISM
- SUPPPORTERS OF LEFT WING IDEOLOGIES SUCH AS SOCIALISM AND COMMUNISM

more liberal, more progressive looking for change, community

Question 7

Right values

Answer 7

• DEFENCE OF TRADITIONS
• REJECTION OF RAPID CHANGE
  IN SOCIAL OR ECONOMIC AREAS
  -CONSERVATISM
• SUPPORTERS OF RIGHT-WING IDEOLOGIES SUCH AS FASCISM
  AND CONSERVATISM

Question 8

Center values

Answer 8

• DEFENSE OF INDIVIDUAL FREEDOMS
• REDISTRIBUTION OF WEALTH

-DEFEND EGALITY AND FREEDOM AND RESPECT OF TRADITIONAL VALUES

• MIDDLE GROUND IDEOLOGIES
  BETWEEN PROGRESSIVISM AND
  CONSERVATISM SUCH AS LIBERALISM

glorifies the past, tradition, individual, less taxes, less govt

Question 9

Extreme left

Answer 9

Anarchism
Communism

Question 10

Extreme right

Answer 10

Fascism

Question 11

Right

Answer 11

Conservatism

Question 12

Left

Answer 12

Socialism, Environmentalism

Question 13

Left

Answer 13

Socialism, Environmentalism

Question 14

Political economy

Answer 14

Political economy studies the behaviour and influence of States on current problems or issues.

Question 15

Economics

Answer 15

economics examines State intervention in economic activity

Question 16

Political science

Answer 16

Political science examines State intervention in the exercice of power

Question 17

The main economic systems

Answer 17

They determine the way by which economic activities are organized and conducted in a specific country

They have specific characteristics that influence production of goods and services

they influence the relations between different economic agents

they influence the functioning of the labour market

They are ideology driven - just like political ideologies-

they can be placed on a left-right axis according to their charactiristics

Question 18

Planned economy

Answer 18

Communism
it is an economic system that advocates the nationalization of the means of production

Question 19

Free entreprise

Answer 19

Laissez-faire capitalism
it is an economic system in which private ownership of the means of production is strongly encouraged
Profit is key

Question 20

Planned economy characteristics

Answer 20

the state determines what and how much is produced
The state determines who benefits from this production
the state is the main economic agent and it leaves little room for private enterprise

Question 21

Planned economy examples

Answer 21

USSR: before 1990
Cuba: still exist today as the main economic system
China: is in a transition system between free enterprise and communism

Question 22

Free entreprise characteristics

Answer 22

the laws of market (supply and demand) determine what and how much is produced

the laws of market determine who benefits from this production

there is a predominance and little or no state intervention which places this system on the right-wing economic ideologies.

Question 23

Free entreprise examples

Answer 23

the United states of America: private enterprise is the means to achieving the American dream: anyone can start a business and become an economic giant (Bill Gates)

Question 24

Mixed economy

Answer 24

Mixed economy: located at the center of the axis
it is an economic system in which free entertprise predominates over state intervention
the state nevertheless plays a role, since it regulates or can nationalize certain business or resources in order to attain specific economic goals

Mix of gov/private companies

Question 25

Mixed economy characteristics

Answer 25

it is a compromise between the left and the right it draws on centrist economic ideologies state is not excluded from the promotion of individual economic initiaves

Question 26

Mixed economy examples

Answer 26

Quebec : business and private enterprise are enrouraged but the state plays a role in the economy (nationalization of hydroelectricity many European nations: ex. Denmark, France,

Question 27

The laws of the market: supply and demand

Answer 27

In free enterprise and mixed economies, the laws of market are crucial: the price of goods and services is established based on supply and demand BY COMBINING SUPPLY AND DEMAND, IT IS POSSIBLE TO SET THE PRICE OF GOODS AND SERVIcES BASED ON THE FOUR RULES OR LAWS (KNOWN AS LAWS OF THE MARKET OR LAWS OF SUPPLY AND DEMAND.

Question 28

Supply definiton:

Answer 28

Supply: it is the quantity of a good or service that a producer is ready to sell at a given price.

Question 29

Demand definition:

Answer 29

demand: it is the quantity of a good or service that a consumer is ready to purchase AT A GIVEN PRICE

Question 30

4 Laws of supply and demand

Answer 30

1) SUPPLY INCREASES WHILE DEMAND REMAINS STABLE 2) SUPPLY DECREASES WHILE DEMAND REMAINS STABLE 3) DEMAND INCREASES WHILE SUPLLY REMAINS STABLE 4) DEMAND DECREASES WHILE SUPPLY REMAINS STABLE

Question 31

Mercantilism

Answer 31

Economic concept of a mother country acquiring colonies to obtain resources to add wealth to the mother country From 17th-19th century , gradually replaced feudalism. Accumulation of wealth by acquiring gold through resources from colonies . Mercantilism gives rise to colonialism. This system promoted colonies to provide resources to mother countries.

Question 32

Imperialism

Answer 32

A country takes over + spreads its influence + control in other regions

Question 33

K Marx

Answer 33

Founder of concept of communism: overthrow the ruling elite --> violent revolution to overthrow the ruling capitalist elite + create an equal distribution of wealth

Question 34

Keynes

Answer 34

state Interventionism Great depression Govt needs to be involved, by spending $$, jobs, support, public work, to improve the economic crisis Capitalism : Should distribute wealth via taxes and state intervention especially during a recession. The government can go into debt to aid an economy during recessions.

Question 35

Interventionism

Answer 35

1) Gov nationalizes essential services 2) Gov providing jobs, civil servant 3)Labour standards (min. wage)

Question 36

Feudalism

Answer 36

1. FEUDALISM: Middle Ages to 16th century. Dominant in Europe and Asia. Lord or wealthy land owners dominated the peasant class.

Question 37

Capitalism

Answer 37

Emerges as wealth is accumulated by wealthy merchants. In the 19th century capitalism booms as the industrial revolution intensifies. This system is based on free enterprise ,acquiring wealth , workers are paid for their labour .

Question 38

Socialism

Answer 38

Emerges at the same time to counter capitalism . The state controls means of production , and wealth is distributed by the state. Goal: Create a just and equal society with no social classes. Marxism is an example of socialism.

Question 39

Friedman

Answer 39

Liberalism : Less state involvement is better. The law of supply and demand should control the economy. Individual profit is important and the state often disrupts this process. The less the government is involved in the economy the better for people to acquire wealth. Laissez faire capitalism Economy will fix itself Govt should have little involvement in the economy