Political science Exam 3

Inflation

A general rise in prices, decreasing the purchasing power of money.

Recession

A period of economic decline (usually two consecutive quarters of negative GDP growth).

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking work.

Depression

A prolonged and severe recession with massive unemployment and low production.

Fiscal Policy

Government use of taxing and spending to influence the economy.

Keynesianism

Belief that government should use fiscal policy to manage demand and stabilize the economy.

Budget Deficits

When government spending exceeds revenue in a fiscal year.

Monetary Policy

Central bank actions controlling money supply and interest rates to influence the economy.

Interest Rates

The cost of borrowing money; higher rates discourage borrowing/spending.

Money Supply

Total amount of money circulating in an economy.

Federal Reserve System

The U.S. central bank that sets monetary policy and regulates banks.

Supply-Side Economics

Theory that lower taxes and deregulation encourage production and growth.

National Debt

The total amount the government owes (sum of past deficits).

Progressive Taxes

Tax rate increases as income increases.

Regressive Taxes

Takes a larger share of income from low earners.

Proportional Taxes

Everyone pays the same percentage of income.

Monopoly

A single company dominates an industry, limiting competition.

Antitrust Policies

Laws preventing monopolies and promoting competition.

NAFTA

North American Free Trade Agreement — free trade between U.S., Canada, Mexico.

Consumer Taxes

Taxes on goods and services purchased by consumers.

Discretionary Funding

Government spending that must be approved annually by Congress.

Earmarked Revenue

Funds set aside for specific programs.

Income-Elastic Taxes

Tax revenue increases faster than income growth.

Nontax Revenue

Government income from fees, fines, or state enterprises.

Tax Base

The total amount of income, property, or transactions subject to taxation.

Tax Shifting

When businesses or individuals pass on tax costs to others.

Executive Office of the President (EOP)

Staff agencies that assist the president in policy and management.

Bureaucracy

Complex system of departments and agencies carrying out government policy.

Neutral Competence

Bureaucrats act professionally and politically neutral.

Red Tape

Excessive rules and formalities in bureaucracy.

Spoils System

Awarding jobs based on political loyalty.

Patronage

Granting government positions to political supporters.

Civil Service

Hiring and promotion based on merit, not politics.

Pendleton Act (1883)

Established the civil service system; ended most patronage hiring.

Hatch Act (1939)

Limits political activities of government employees.

Clientele Groups

Groups served by and influencing specific agencies.

Departments

Major administrative units with broad responsibilities.

Independent Agencies

Operate outside major departments.

Independent Regulatory Boards & Commissions

Make and enforce rules in specific sectors.

Government Corporations

Provide services that could be private but are government-run.

Bureaucratic Discretion

Agencies' ability to interpret laws and decide how to implement them.

Federal Register

Official daily publication of rules and regulations.

Whistleblowers

Employees exposing illegal or unethical actions in government.

Agency Capture

When agencies serve the industries they regulate instead of the public.

Iron Triangles

Strong alliances among agencies, interest groups, and congressional committees.

Sunshine Laws

Require government meetings and records to be open to the public.

Freedom of Information Act (FOIA)

Citizens' right to access federal government records.

Native American Ecological Heritage

Indigenous traditions emphasizing harmony with nature.

Preservationist vs. Conservationist

Preservationists protect nature from use; conservationists manage it wisely.

Silent Spring

Rachel Carson's 1962 book exposing dangers of pesticides.

The Limits to Growth (1972)

Advocated sustainable development; report warning of environmental and economic collapse from unchecked growth.

Paris Climate Accords (2015)

Global agreement to limit global warming to below 2°C.

Environmental Protection Agency (EPA)

Federal agency enforcing environmental laws.

Cap & Trade

Market-based policy to limit emissions by issuing tradable permits.

Modern mechanistic worldview

Philosophical perspective advocating human separation from nature.

I-Thou vs. I-It

Martin Buber's ethics: genuine relationships (I-Thou) vs. objectification (I-It).

Technocracy

Governance by technical experts or scientists.

Ecology vs. industrialism

Interconnected systems thinking vs. human-centered, mechanistic view.

Sustainability

Meeting current needs without harming future generations.

Full-Cost Accounting

Including environmental and social costs in economic decisions.

Global environmental ethics

Ethics that transcend individual and national boundaries.

Transpersonal & Transnational Sensibilities

Viewing society as a moral community across time.

Communitarianism Over Generations

Duty to future generations.

Ecological humility

Respecting the autonomy of natural systems.

William Reilly

EPA Administrator (1989-1993); promoted sustainable development.

Optimists, Pragmatists, Hedonists, & Stewards

Framework for moral attitudes toward nature.

14 ( Due Process clause)

Citizens rights, Equal protection, Apportionment, Civil war debt

16th Amendment

Income tax

18th Amendment

Prohibition of Liquor