Chapters 3-5 Flashcards
What is a class system?
The division of a society into different classes of people, usually based on income or wealth.
What was the enlightenment?
An intellectual movement that took place during the 17th and 18th centuries. Classical liberalism spread throughout Europe and changed some people’s beliefs about religion, reason, nature, and human beings. AKA The Age of Reason.
What is industrialization?
The stage of economic development in which technology leads to mass production and mass consumption. This is accompanied by urbanization and changes in national living standards.
What is laissez-faire capitalism?
Translates to non-interference or non-intervention. When applied to economics it refers to free markets and an individuals right to own private property.
What is limited government?
This refers to the idea that little government involvement in the economy results in a more efficient free market.
What is a traditional economy?
An economic system, usually practiced by a pre-industrialized society, where needs are met through agriculture, hunting, and fishing. There tends to be a division of labor based on custom and tradition.
Who was John Locke?
A classical liberal thinker whose works focus on the importance of individualism. Locke believed that individuals had the right to use their reason and logic to make their own decisions. He believed that the government was directly responsible for it’s citizens and that individuals had a right to private property.
Who was John Stuart Mill?
A classical liberal thinker who was interested in the protection of individual freedom. He believed an individual could act as they wanted as long as they didn’t infringe on the rights of others. He also strongly advocated free speech.
What was Montesquieu?
A classical liberal thinker who believed in the worth of the individual, the equality of the individual, and the accountability of government. He also believed strongly in the separation of powers.
Who was Adam Smith?
A Scottish political economist who believed that if people worked for their own gain, everyone (including the state) would be better off. He works depict a free market system, controlled by the invisible hand.
What is a free market?
A market that operates with little government intervention. In a free market economy, questions regarding production and marketing are decided through free interaction between producers and consumers.
What is classical conservatism?
An ideology that says government should represent the legacy of the past as well as the well-being of the future. Society should be hierarchical, government should be chosen by a limited electorate, and leaders should be humanitarian. The stability of society is all important.
What is a command economy?
An economic system based on public ownership of property. The state decides which goods to produce, how to produce them, and how to distribute them.
What is communism?
A system of society with property vested in the community and each member working for the common benefit according to his or her capacity and receiving according to his or her needs.
What is Feminism?
The belief in social, political, and economic equality of the sexes. The term can also refer to the movement that advocates for these equalities.
