Political Ideology and Policy

This set of flashcards covers key terms related to political ideology and policy-making, including fiscal and monetary policies, party platforms, safety nets, and differences in ideologies on social issues.

Party Platform

Formal set of principal goals supported by a political part/individual candidate.

Fiscal Policy

use of government spending and taxation to influence the economy.

Monetary Policy

central bank, such Federal Reserve, manages supply of money to achieve specific goals.

Safety Net

Government programs that provide support to individuals and families in need.

Entitlements

Government programs provide guaranteed benefits to particular groups

Informational Privacy

to control who has access to personal information and how it is used.

Ideological Differences

beliefs between different political ideologies over gov/ social issues.

Dual Mandate

requirement for government agencies to pursue two objectives, often balancing market stability with promotion of economic growth.

Ideologies of political Parties

governmental agencies must balance the need for public services with protection of individual rights.

Libritarian

emphasizing individual liberty, limited government, and free markets.

Populism

approach that strives to represent the interests of ordinary people against the elite.

National Populism

emphasizing rights and power of ordinary people in opposition to elites established institutions combines populist/ nationalistic beliefs.

Keynesian Economics

econ theory advocating for increased government expenditures and lower taxes to stimulate demand

Suply Side economics

economic theory increasing the supply of goods and services through tax cuts and deregulation.

Libritarian

political ideology emphasizing individual liberty, limited government intervention, and free markets.