AP Gov - Chapter 14: Political Ideologies and Public Policy

ideology

a comprehensive and mutually consisten set of ideas

valence issue

concerns or policies that are viewed in the same way by people with a variety of ideologies

wedge issue

concerns or policies that sharply divide the public; political groups use them to gather support for an issue with each ideology considering their opinions right and the other side wrong

saliency

intense importance; tends to make divisive issues

moderate

in between the ideological spectrum

liberal

ideology that is open to allowing the government to act flexibly and expand beyond established constraints

conservative

ideology that believes in following tradition and having reverence for authority

libertarian

voter who generally opposes government intervention or regulation

populist

voter who favors policies that are for the welfare of the citizenry (workplace safety protections, farm subsidies, etc.); often from working-class families

progressive

voter who believes in the progression of society, criticizes certain traditional policies, and that the wealthier should pay a larger percentage of taxes compared to poorer people

majoritarian

type of policy making that comes from the interaction of people with government to put into place and carry out the will of the majority

agenda

a list of potential policy ideas, bills, or plans to improve society

fiscal policy

part of economic policy that is concerned with government spending and taxation; typically comes from Congress

keynesian economics

economic theory that theorizes that the market will not necessarily operate at full capacity if left on its own; the government should create the right level of demand

multiplier effect

mechanism by which an increase in spending results in an economic growth greater than the amount of spending

supply-side economics

economic theory that believes that the government should leave as much of the money supply as possible with the people, letting the laws of economics govern the marketplace; often known as laissez-faire/free-market theory

Sixteenth Amendment

allows congress to tax people’s incomes; decision came from Pollock v Farmers’ Loan and Trust

Internal Revenue Service (IRS)

oversees the collection process of income taxes

progressive tax

tax rate that increases/progresses as one’s income increases

flat tax

tax rate that taxes citizens at the same rate

monetary policy

how the government manages the supply and demand of its currency and this the value of the dollar; typically run by the Federal Reserve

inflation

rising prices and devaluation of the dollar; result of too many dollars in circulation

Federal Reserve Board

agency that sets monetary policy by buying and selling securities and bonds, regulating money reserves required at commercial banks, and setting interest rates

discount rat

interest rate at which the government loans actual dollars to commercial banksrese

reserve requirement

regulation on how much cash commercial banks must keep in their vaults

bonds

written loan in which the buyer (the US) lends money to the issuer (the people) with the promise that the issuer would pay the original amount + interest back

globalization

process of an ever-expanding and increasingly interactive world economy

trade balance

value in which a nation exports more than it imports

North American Free Trade Agreement (NAFTA)

lifted the trade barriers among the US, Canada, and Mexico

social welfare

support for the disadvantaged people to meet their basic needs

entitlements

government services Congress has promised by law to citizens

mandatory spending

criteria that will award cash to those who are legally “entitled” to those funds

Social Security Act

creates a federal safety net for the elderly and those out of work

Medicare

government-run health insurance program for citizens over 65Me

Medicaid

government-run health care program for the impoverished who cannot afford necessary medical expenses

Patient Protection and Affordable Care Act

expanded government regulation of health insurance and making the service more affordable; often known as “Obamacare”