AP Comparative Govt--Unit 2

Marxism

Theory that encourages elimination of social class by forbidding private property to encourage equality and cooperation. The basis for communism.

Bourgeoisie

Marxist term to describe the capitalist elite class.

Democratic Centralism

The theory that egalitarianism must be put into place by a small group of leaders.

Nomenklatura

Appointment of trusted and loyal people into key positions in government.

Proletariat

Marxist term for the working class.

Bolsheviks

People who backed Lenin's ideals of democratic centralism

Politburo

Generic term used to describe the decision makers within communist parties.

Oligarch

Business and political leaders with massive influence in 1990s Russia.

Shock Therapy

Economic shift from Command economies to Market economies as quick as possible.

Federation Council

Upper House of the Russian Parliament

Five-Year Plan

Economic policies that develop within communist states.

Duma

Lower House of the Russian Parliament

Special Economic Zone

Areas in China were foreign companies were first allowed to invest.

Near Abroad

Term given to the former states that used to comprise the Soviet Union.

Economic system

The structure of methods/principles a society uses to produce/distribute goods/services

Vladimir Putin

President of Russia

Mikhail Mishustin

Prime Minister of Russia

FSB

Security police whose major job is to protect the Russian regime from its critics

General Secretary

The formal title of the head of a Communist Party.

Mikhail Gorbachev

Last leader of the Soviet Union

Boris Yeltsin

First president of the Russian Federation

Chechnya

Ethnic conflict in Southern Russia that elevated Vladimir Putin to power.

Cult of Personality

Promotion of the image a leader not merely as a political figure but as someone who embodies the spirit of the nation.

Alexi Navalny

Opposition figure to Vladimir Putin

United Russia

Current political party in power in Russia

Communist Party of the Russian Federation

Current Marxist party in post-Soviet Russia

Liberal Democrats

Hyper-nationalist political party in the Russian Federation

Legislative Power

The power to make laws

Executive Power

Power to enforce laws

Judicial Power

The power to interpret laws

First Past the Post (FPTP)

Electoral System where the winner gets the most votes.

Majority Run-off

Electoral System where the winner gets 50% +1 votes. May require a second round.

Proportional Election

Electoral System where the percentage of votes equals the percentage of seats allowed in the legislature.

Referendum

A direct vote on a law by the People.

Efficiency

Using resources in such a way as to maximize the production of goods and services

Circular Flow

The pattern in which goods and services and resources flow in the marketplace

Household

Person or people living together.

Firm

An organization that uses resources to produce goods and services.

Factor Market

The exchange of Factors of Production for Wages

Product Market

The exchange of Money for Goods and Services.

Private Sector

The part of the economy that involves individuals and businesses

Public Sector

The part of the economy that involves the government

Laizzez-faire

Economic System with no government involvement.

Neoliberalism

Economic System that seeks to make market transactions for efficient

Welfare Capitalism

Economic System that incorporates large safety nets to make up for market failures.

Market Socialism

Economic System where basic services are nationalized and private companies are strongly regulated by the government.

Socialism

Economic System in which means of production and distribution are owned by the government.

Import Subsitution

Government policy that replaces foreign imports with domestic production.

Globalization

Global interconnectedness between countries in economics and culture.

Economic Liberalization

The process of moving an economic system from more government controlled to a more free market structure.

International Monetary Fund

A United Nations organization set up to maintain order in the international monetary system

The World Bank

An organization that makes loans to Developing countries for economic growth and trade promotion.

World Trade Organzation

Global organization that negotiates trade agreements

Multi-National Corporations

Companies that have centers of operation in many parts of the globe

Foreign Direct Investment

Investment made by a foreign company in the economy of another country.

NAFTA

Free trade agreement between Mexico, Canada, and the United States

Privatization

To change from government or public ownership or control to private ownership or control.

Nationalization

Changing something from private to state ownership or control

Collective Consensus

British support for the creation of the welfare state that lasted from the 1940s to the 1970s.

Thatcherism

British economic policy that reduced state economic power and introduced free market and privatization in the 1980s.

European Union

An international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members.

Brexit

The British Exit from the European Union

Rentier State

A country that obtains much of its revenue from the export of oil or other natural resources.

Mao Zedong

Creator of the Chinese Communist Party

Deng Xiaoping

Communist Party leader who forced Chinese economic liberalization reforms in the 1980s/90s.

Special Economic Zones

Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment

Tariff

A tax on imported goods

Parastatals

Companies owned or controlled by the state.

Porfiriato

Period of rule by Porfirio Diaz. Created stability

Mexican Miracle

Strong economic growth in Mexico from the 1940s to about 1980.

Ejidos

Farmland owned collectively by members of a rural community

Maquiladora

Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.