Cabinet Government
System of government in which most executive power is held by the cabinet, headed by a prime minister.
Constitutional monarchy
Form of government in which the king retains his position as head of state, while the authority to tax and make new laws resides in an elected body
Foreign direct investment
Ownership of or investment in cross-border enterprises in which the investor plays a direct managerial role
Fusion of powers
Constitutional principle that merges the authority of branches of government, in contrast to the principle of separation of powers
Hegemonic power
State that can control the pattern of alliances and terms of the international order, shapes domestic political developments in countries throughout the world.
Hung parliament
Situation after an election when no single party comprises a majority in the Commons
Industrial revolution
Period of rapid and destabilizing social, economic, and political changes caused by the introduction of large scale factory production, originating in England in the middle of the 18th century.
Judicial review
Capacity of a high court to nullify actions by the executive and legislative branches of government that violate the constitution
Laissez-faire
"to let do", state management is limited to enforcing contracts and protecting property rights, while private market forces are free to operate with only minimal state regulation
Macroeconomic policy
Policy intended to shape the overall economic system by concentrating on inflation and growth.
Monetarism
Approach to economic policy that assumes a natural rate of unemployment and rejects the instruments of government spending to run budgetary deficits for stimulating the economy and creating jobs.
Neoliberalism
Government policies aiming to promote free competition among business firms within the market, including reduced governmental regulation and social spending.
Parliamentary democracy
System of government in which the chief executive is answerable to the legislature and may be dismissed by it
Parliamentary sovereignty
Doctrine that grants the legislature the power to make or overturn any law and permits no veto or judicial review.
Quango
Acronym for quasi-autonomous non-governmental organization: a public body staffed by appointees, rather than politicians or civil servants
Special relationship
Political, diplomatic, cultural, economic, military, and historical relations between the UK and the US
Unitary state
System of government in which no powers are reserved for subnational units of government, in contrast to a federal system
Welfare state
public policies designed to provide for citizens' needs through direct or indirect provision of pensions, health care, unemployment insurance, and assistance to the poor
Westminster model
Form of democracy based on the supreme authority of Parliament and the accountability of its elected representatives