Social Problems - Chapter 11

Capitalism - an economic system in which natural resources and the means of producing goods and services are privately owned

Government - a formal organization that directs the political life of a society

Socialism - an economic system in which natural resources and the means of producing goods and services are collectively owned 

Political economy - the closely linked economic and political life of a nation or world region

Democracy - a political system in which power is exercised by the people as a whole

Authoritarianism - a political system that denies popular participation in government

Monarchy - a political system in which a single family rules from generation to generation

Corporations - businesses with legal existence, including rights and liabilities, separate from that of their members 

Monopoly - the domination of an entire market by a single company

Oligopoly - the domination of the market by a few companies

Conglomerate - a giant cooperation composed of many smaller companies 

Interlocking directorates -  social networks made up of people who serve as directors of several companies at the same time

Special interest groups - political alliances of people interested in the same economic or social issue

Lobbying - the efforts of special interest groups and their representatives to influence government officials

Political action committees - organizations formed by special interest groups to spend and raise money in support of political goals

Gender gap - the tendency for women and men to hold different opinions about certain issues and to support different candidates

Welfare state - a range of government policies and programs that transfer wealth from the rich to the poor and provide benefits to needy members of society

Karl Marx - created socialism

1890 - Sherman Trust Act, passed by congress

2002 - Bipartisan Campaign Reform Act

1870 - Fifteenth Amendment African American men can vote

1920 - Nineteenth Amendment- Women can vote

1971 - Twenty-Sixth Amendment, lowered voting age from twenty-one to 18

2016 - Virginia reinstated voting rights for felons