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Adam Smith
Scottish philosophers and economists
Anarchy
State without rulers or government
Ascription
Attribution of something to a cause
Authoritarian
Political system in wish a small group of individuals excercises power over the state without being constitutionally responsible to the public
Autonomy
The ability of the state to wield its power independently of the public
Capacity
The ability of the state to carry out basic tasks such as defending territory, making and enforcing rules, collecting taxes, and managing the economy
Central bank
The state institution that controls how much money is flowing through the economy, as well as how much it costs to borrow money in that economy
Centralization
The concentration of control of an activity or organization under a single authority
Citizenship
An individual’s relationship to the state, wherein citizens swear allegiance to that state and the state in return to obligated to provide rights to those citizens
Civil society
Organization outside of the state that help people define and advance their own interests
Communism
political-economic system in which all wealth and property are shared so as to eliminate exploitation, oppression, and ultimately, the need for political institutions such as the state
Comparative advantage
The ability of one country to produce a particular good or service more efficiently relative to other countries efficiency in producing the same good or service
Comparative method
The means by which social scientists make comparisons across cases
Conservatism
A political attitude that is skeptical of change and supports the current order
Consolidated democracy
Stable political system where democratic rules are stable
Corporatism
A method of cooptation whereby authoritarian systems create or sanction a limited number of organizations to represent the interest of the public
Correlation
How to or more relations relate to each other
Decentralization
The process of moving power, functions, or descion-making away from a central authority
Democratization
Introduction of a democratic system or democratic principles
Empirical statement/empirical data
Concept of knowledge derived from direct observation, sensory experience, or experimentation, rather than pure reasoning or theory alone
Ethnic identity
Specific attributes and societal institutions that make one group of people culturally different from others
Fascism
A political ideology that asserts the superiority and inferiority of different groups of people and stresses a low degree of both freedom and equality in order to achieve a powerful state
Failed states
A state so weak that its political structures collapse, leading to anarchy and violence
Genocide
Deliberate killing and targeted destruction of a people
Gini index
A statistical formula that measures the amount of inequality in a society; it’s scale ranges from 0 to 100, where 0 corresponds to perfect equality and 100 to perfect inequality
Globalization
The process of expanding and intensifying linkages among states, societies, and economies
Government
The leadership or elite in charge of running a state
Gross domestic product
The total market value of all goods and services provided by a country over a period of 1 year
Gross national product
The total market value of all goods and service produced by the residents of a country, including income from abroad
Human development index
A statistical tool that attempts to evaluate the overall wealth, health, and knowledge of a country’s people
Hyperinflation
Inflation of more than 50% a month for more than 2 months in a row
Ideology
Comprehensive system of ideas, beliefs, values, and principles that shape how individuals or groups understand the world
Inflation
An outstripping of supply by demand, resulting in an increase in the general price level of goods and services and the resulting loss of value in a country’s currency
Institutions
An organization or activity that is self-perpetuating and valued for its own sake
Karl Marx
German philosopher, political theorist, economist , journalist, and revolutionary socialist
Legitimacy
A value whereby an institution is accepted by the public as right and proper , thus giving authority power
Liberalism
A political attitude that favors evolutionary transformation (2) a political ideology that favors a limited state role in society and the economy and places a high priority on individual political and economic freedom (3) a political economic system that favors a limited state role in the economy
Market
The interaction between the forces of supply and demand in a county
Mercantilism
A political-economic system in wish national economic power is paramount and the domestic economy is viewed as an instrument that exist primarily to serve the need of the state
modernization
Broad processes of societies transforming form traditional, agrarian ways to modern, industrialized, and technological advanced systems
Monopoly
A single producer that is able to dominate the market for a good or service without effective competition
Nation
A group of people bound together by a common set of political aspirations
National identity
A sense of belonging to a nation and a belief in its political aspirations
Nationalism
Devotion to one’s country
Neo-corporatism
A system of social democratic policy-making in which a limited number of organizations representing businesses and labor work with the state to set up economic policy
Non-tariff boundaries
Policies and regulations used to limit imports through methods other than taxation
Normative statement
Value-based claim about what should or ought to be
Patriotism
Pride in one’s state
Political attitudes
Descriptions of views regarding the speed and scope of things
Political culture
The basic norms for political activity in a society
Political economy
The study of the interaction between states and markets
Political ideology
The basic values held by and individual about the fundamental goals of politics, or the ideal balance of freedom and equality
Politics
Struggle for power
Private property
Good or services that are owned by an individual privately
Property
Goods or services that are owned by an individual or groups, either publicly or privately
Public good
Goods that are sued by most or all in society and which no private person or organization can own
Purchasing power parity
A statistical tool that attempts to estimate the buying power of income across different countries by using prices in the United States as benchmark
qualitative research
Study through in-depth investigation of a limited number or cases
Quantitative research
Study through statistical data form many cases
Radical
A political attitude that favors democratic, often revolutionary change
Reactionary
Seeks to to reverse or undo recent political or social changes
Regime
Fundamental rules and laws of politics
Rule of Law
A system in which all individuals and groups, including those in government, are subject to the law
Social democracy
Political economic system in which freedom and equality are balanced
social expenditures
state provision of public benefits such as education, health care, transportation, etc.
Sovereignty
The ability of a state to carry out actions or policies within a territory independently from external actors or internal rivals
State
The organization that maintains monopoly of force over a given territory
Tarrifs
Taxes on imported goods
Transitional democracy
Weak, unstable state switching from authoritarian rule to a democratic rule
Welfare/welfare states
State actively protects and promotes economic social well-being of citizens