Chapter 1 Flashcards
Who gets what, when and how; a process of determining how power and resources are distributed in a society, without violence.
Politics
the ability to get other people to do what you want.
Power
accepted as “right” or proper
Legitimate
organizations in which governmental power is exercised (ex: bureaucracy)
Institutions
production and distribution of a society’s material resources and services
Economics
an economic system in which the market determines the production, distribution, and price decisions, and property is privately owned.
Capitalist Economy
an economic system in which the market makes all decisions and government plays no role.
Laissez-faire capitalism
a market system in which the government intervenes to protect rights and make procedural guarantees
Regulated capitalism
government assurance that the rules will work smoothly and treat everyone fairly, with no promise of particular outcomes.
Procedural Guarantees
government assurance of particular outcomes or results.
Substantive Guarantees
an economic system in which the state determines production, distribution, and price decisions, and property is government owned.
Socialist Economy
a hybrid system combining a capitalist economy and a government that supports equality
Social Democracy
systems in which the state holds all power over the social order
Authoritarian Government
a system in which absolute power is exercised over every aspect of life
Totalitarian system
a system in which the state allows people economic freedom but maintains stringent social regulations to limit noneconomic behavior
Authoritarian Capitalism
