W4 - The Government (P1)

• Monarchy


  A form of government in which supreme and final authority is in the hands of a single person.
• Absolute Monarchy


  A government in which the ruler rules by divine right.
• Limited Monarchy


  A government in which the ruler rules in accordance with the Constitution.
• Tyranny


  An autocratic form of rule in which one individual exercises power without any legal restraint.
• Dictatorship


  An authoritarian type of government where there is absolute control by one person.
• Aristocracy


  A government in which political power is exercised by few privileged classes which is known as __________ or oligarchy.
• Oligarchy


  A small group of people has all the power in the government.
• Democracy


  A government in which political power is exercised by a majority of the people.
• Direct/Pure Democracy


  A government in which the will of the state is formulated or expressed directly and immediately through the people in a mass meeting or primary assembly.
• Indirect/Republican


  A government in which the will of the state is formulated and expressed through a relatively small and select body of persons chosen by the people to act as their representatives.
• Unitary Government


  A government in which the control of national and local affairs is exercised by the central or national government.
• Federal Government


  A government in which the powers of government are divided between the national and local governments.
• Parliamentary Government


  A government in which the state confers upon the legislature the power to terminate the tenure of office of the real executive.
• Presidential Government


  A government in which the state makes the executive constitutionally independent of the legislature as regards to tenure to a large extent.
• Ideology


  A comprehensive set of normative beliefs, conscious and unconscious ideas, that an individual, group or society has.
• Liberalism


  Also known as classical liberalism.
• Liberalism


  Developed when such thinkers as John Locke (in his Second Treatise of Government in 1690) rethought the relationship between the individual and society, as well theorized about the rights and responsibilities of the individual.
• Individualism


  The individual takes priority over society;
• Freedom


  Individuals have the right to make choices for themselves. This freedom is not absolute, and some behaviors, such as murder, are prohibited. Freedom of religion is a particularly important freedom to come out of liberalism because so many governments at the time were very closely tied to a particular religious creed;
• Equality


  No person is morally or politically superior to others. Hierarchies are rejected.
• Rationalism


  Humans are capable of thinking logically and rationally. Logic and reason help us solve problems;
• Progress


  Traditions should not be kept unless they have value. New ideas are helpful because they can lead to progress in the sciences, the economy, and society.
• Free Market


  It is more easily creates wealth.
• Traditional Economies


  Often have extensive regulations and limits on which occupations people can hold.
• Conservatism


  Also known as classical conservatism.
• Conservatism


  Began as a reaction against the liberal ideas taking hold of Europe during the French Revolution in the late eighteenth century.
• Stability


  A precious thing, and change must be made gradually in order to preserve it. Undermining stability is very dangerous because societies can easily fall into chaos and violence.
• Concreteness


  Liberalism is too abstract. It focuses on freedom and equality, not on the concrete way people live every day, which is the focus of conservatism.
• Human Fallibility


  Liberalism overestimates human beings. Humans are frequently ignorant, prejudiced, and irrational. By ignoring these defects, liberalism becomes unrealistic.
• Unique Circumstances


  There is no universal answer to the problems of society; the circumstances are unique in each country.
• Capitalism


  A political and economic ideology which states that individuals are free.
• Private Property


  Which allows people to own tangible assets such as land and houses and intangible assets such as stocks and bonds;
• Self-Interest


  Through which people act in pursuit of their own good, without regard for sociopolitical pressure.
• Competition


  Through firms' freedom to enter and exit markets, maximizes social welfare, that is, the joint welfare of both producers and consumers;
• Market Mechanism


  Determines prices in a decentralized manner through interactions between buyers and sellers—prices, in return, allocate resources, which naturally seek the highest reward, not only for goods and services but for wages as well;
• Freedom to Choose with Respect


  To consumption, production, and investment—dissatisfied customers can buy different products, investors can pursue more lucrative ventures, workers can leave their jobs for better pay; and
• Limited Role of Government


  To protect the rights of private citizens and maintain an orderly environment that facilitates proper functioning of markets.
• Social Democracy


  A political movement which emerged in the latter half of the nineteenth century and grew to mass proportions in a number of European countries.
• Socialism


  An economic system in which the factors of production are valued in relationship to their usefulness to people.
• Collectivism


  Human beings are social by nature, and society should respect this. Individualism is poisonous.