Political Systems and Economic Strategies

Flashcards covering political systems, history, and economic strategies relevant to the exam.

European Union (EU)

A political and economic union of member states located in Europe, established to promote cooperation and prevent conflicts.

Single-Member District (SMD)

An electoral system in which one representative is elected from each district, typically favoring larger political parties.

Meiji Restoration

A political revolution in Japan that restored imperial rule and modernized the country, beginning in 1868.

Iron Triangle

The close relationship between bureaucrats, politicians, and business leaders in Japan that influences policy making.

License Raj

A complex system of regulations and licenses governing economic activity in India before 1991, leading to inefficiency and corruption.

Washington Consensus

A set of economic reforms advocated for developing countries, emphasizing free markets, deregulation, and privatization.

Brexit

The United Kingdom's decision to leave the European Union, marked by the 2016 referendum and formal exit in 2020.

Tokugawa Shogunate

The feudal regime that ruled Japan from 1600 to 1868, characterized by isolation and centralized power.

Totalitarianism

A political system in which the state recognizes no limits to its authority and seeks to regulate every aspect of public and private life.

Czarist regime

The autocratic rule in Russia prior to the Bolshevik Revolution in 1917, characterized by monarchical governance.