Chapter 4 Flashcards
Social capital
Democratic and civic habits of discussion, compromise, and respect for differences, which grow out of participation in voluntary organizations.
Natural rights
The rights of all people to dignity and worth; also called human rights.
Democratic consensus
Widespread agreement on fundamental principles of democratic governance and the values that undergird them.
Majority rule
Governance according to the expressed preferences of the majority.
Popular sovereignty
A belief that ultimate power resides in the people.
American dream
The widespread belief that the United States is a land of opportunity and that individual initiative and hard work can bring economic success.
Capitalism
An economic system characterized by private property, competitive markets, economic incentives, and limited government involvement in the production, distribution, and pricing of goods and services.
Suffrage
The right to vote
Monopoly
Domination of an industry by a single company that fixes prices and discourages competition; also, the company that dominates the industry by these means.
Antitrust legislation
Federal laws (originating with Sherman Act 1890) that try to prevent a monopoly from dominating an industry and restraining trade.
Political ideology
A consistent pattern of beliefs about political values and the role of government.
Liberalism
A belief that government can and should achieve justice and equality of opportunity.
Conservatism
A belief that limited government ensures order, competitive markets, and personal opportunity.
Socialism
An economic and governmental system based on public ownership of the means of production and exchange.
Libertarianism
An ideology that cherishes individual liberty and insists on minimal government, promoting a free market economy, a noninterventionist foreign policy, and an absence of regulation in moral, economic, and social life.
