Chapter 11 Flashcards
Capitalism
Economic system in which resources and producing goods and services are privately owned
Adam Smith
Economist believed people are guided by their self interest economy produces the greatest good for the greatest number of people
Free market environment
Producers compete with each other to sell goods and services consumers compete to buy
Government
Formal organization that directs political life of society
Problems with capitalism
Companies replace workers with machines that are more cheap generates a high level of economic inequality
Socialism
Economic system in which natural resources and means of producing goods and services are collectively owned Collective desire to serve the common good and not ourselves
Socialist model Karl Marx
Capitalisms private ownership of productive property creates unequal social classes Replace private goals with social goals big government
Problems with socialist model
A low standard of living highly regimented government Limiting individual freedoms to speak and move freely
State capitalism
Government working closely with large and privately owned
Welfare capitalism
Government provides extensive welfare programs funded by high taxes
Political left, middle, political right
The more left free market is a problem
The more right free market is the solution
Mixed System is known as a state capitalism
Involves government working closely with large privately owned companies
Political economy
The closely linked economic and political life of a nation or world region
Peter Berger Political sociologist
Examined the political consequences of capitalism limited government of a capitalist society provide people with the right to vote but extends freedom
Socialism political views Karl Marx
Capitalism actually reduces personal security at least for most people
Democracy
Powers exercised by the people as a whole
Authoritarianism
The opposite of democracy a system that denies popular participation in government power Iran is an example
Monarchy
Another example of authoritarian nation system in which of single family rules from generation to generation
Corporations
Business that is separate And distinct from its owners think of an island. Business with legal entity with legal existence Including rights and liabilities separate from that of their members
How does the government partner with companies corporations
Corporations are governments biggest customers corporations expect favors from government because they attract business and jobs
Monopoly
Domination of an entire market by a single company
Oligopoly
Domination of a market by a few companies
Difference between monopoly and oligopoly
Monopoly is domination by a single company oligopoly is domination by more than one company
Conglomerates
A giant corporation composed of many smaller For example PepsiCo owns sodas Quaker Oaks Starbucks various food brands
Interlocking Directorate
Social networks made up of people who service directors of several corporations at the same time
Or director of one company might serve on the board of another corporation
Conglomerates and interlocking directorates encourage what
Oligopoly and illegal activities such as price-fixing and sharing information
Special interest groups
Political alliances of people interested in some economic or social issue such as AARP Old people and NRA
Lobbying
People who represent companies to the government Efforts of special interest groups and the representatives to influence government officials
Campaign contributions
Corporations provide the largest labor unions civil rights groups women’s organizations and political parties raise money for candidates
Political action committees Or PAC
Organizations formed by special interest groups to raise and spend money in support of political goals
Bipartisan campaign reform act McCain Feingold Bill
When did the flow of stuff money to candidates are political parties
Citizens united versus federal election commission 2010
Government cannot impose limits on financial contributions made by labor unions corporations and organizations are individuals
McCutcheon versus federal election committee 2014
Abolish limits on the amount of money that any individual can contribute to candidates in a national election
Voter apathy
Lack of interest in voters
Indifference
Conservative beliefs for failure to vote
Alienation
Isolated from politics. Liberals and radicals believe thatPeople being dissatisfied with the way things are but doubt that voting will make a difference
Who votes
Hi income older depends on when rights were established white people women 10 towards Democrats men lean towards Republicans
Gender gap
Women and men whole different opinions about certain issues and support different candidates
Convicted felons voting
Don’t have the right to vote People who don’t play by the rules do not deserve to wrote vote critics say felons include a higher proportion of low income people and minorities
Social movements
Powerful political force in the US resulting in changes in law and public attitudes
Economic system structural functional theory
Use system as complex institution that operates to distribute goods and services to entire population
Robert dahl
Pluralist model
Pluralist model
Seize power widely distributed among various groups and organizations in society
Organizations compete AthletiCo marketplace to win support from people
Pluralist model views
Society as an arena in which organization to fillet a very segments of the population competition between businesses improves economy
Nelson polsby
Investigated political decision-making confirm the power is widely distributed among organizations
Economy and politics structural functional theory How is power spread throughout society
Seize power as spread throughout society
Dahl Pluralist theory many organizations operate as a veto groups to compete for support so that everyone has political voice
Economy and politics structural functional is US society democratic
Pluralist model no one organization gets its way all the time powers disperse widely enough in our society can claim to be democratic
Economic Politics social conflict theory how is powered spread throughout US society
Power elite model developed by C Wright mills are societies run by power elite made up of leaders and government and economy alliances control political life of the nation Karl Marx theory of capitalism
Economy and politics social conflict theory Is US society democrat
Power elite model set an hour how is concentrated with a small circle of families that make up the power elite Marx is political economy model power will always be highly concentrated as long as the US is a capitalist economy
Military industrial complex
Close association of federal government military and Defense industries
Power elite model
See’s power is concentrated among members of the small elite group C Wright mills
C weight mills
Father of power elite model
Marxist political economy model
Sees the concentration of wealth and power in society as resulting from capitalism
Political values and believes far right
Make America great again The United States is great country immigrants legal and illegally for in the country with lots of traditional heritage
Conservative political view
Right in the center main stream importance of personal freedom and limited government competition is good for society and safer a free market
Liberals political view
Want market regulated by the government economy creates too much wealth in the hands of the few support a welfare state
Welfare state
Range of government policies and programs that give wealth from the rich to the poor and provide benefits to needy members of society
Progressive taxation
It raises the tax rate on as income goes up to pay for programs that benefit people with lower incomes
Taxes Government regulates the economy and political system
Radical left Political views
Polish capital market system it is the problem because it impoverishes a majority of the people and puts power in the few instead of the money
