Chapter 2 Flashcards
Principles of individualism
PRICES private property rule of law individual rights and freedoms competition economic freedom self-interest
private property
no one can be denied the right accumulate or trade items that are not owned by someone else
The right of use, owner can use their property in any manner as long as they do not violate the rights of others around them
The right to income, selling or leasing or renting
includes physical possessions and intellectual property
Clashes have occurred between some groups over land ownership (aboriginal)
Rule of law
no one person is above the law; all people at equal under the law
must have clearly defined rules that make up the law if 2 people commit the same crime they receive the same punishment
Individual rights and freedoms
freedom of religion, freedom of association, the right to life, liberty and the security of the person
the right to vote( in early democracies some citizens did not have the right to vote)
Charter of rights and freedoms are in place to ensure that rights and freedoms are protected
though there are laws the prohibit the promotion of hatred and discrimination
competition and self-interest
decisions should not be made free from government control
“laissez faire economics” the government should adopt a hands off policy when it comes to economic decisions
completion and profit motive find the most efficient and innovative methods of production
individuals can best achieve their goals if they are allowed to have private ownership
economic freedom
the freedom to buy what you want and to sell your labour, idea, or product to whomever you wish
Principles of collectivism
PRINCES Public Property Collective responsibility collective interest norms co-operation economic equality
public property
land that is state owned and managed to the best interest of the collective
parks, schools, roads, libraries ( maintained with public money raised through taxation)
collective responsibility
holding the whole group responsible for the actions of the individuals within the group
(Authoritarian government- if one family member steps out of line the whole family is punished)
collective interest
interests that the group have in common. Labour unions, lobby groups,
aboriginal groups have a collective interest for their nations
some of these are found in societies where exploitation has occurs and society is trying to right the wrongs of democracy
norms
standards or norm are imposed in collective societies as a condition of membership in society
the norms relate to values, conditions, conduct or appearance
the group see these standards as binding
co-operation
is meant to ensure that members achieve better results more effectively
sometimes cooperation may be enforced through threat of punishment or sanctions
economic equality
all people have exactly the same of everything, to others it means that all people have access to basic necessities, to others it means that all people have a reasonable standard of living
Collectivism
a current of thinking that values the goals of the group and the common good over the goals of any one individual
