Key Terms Flashcards
First-Past-The-Post
A voting system whereby the candidate with the most votes in each constituency wins a seat in Parliament
Great Depression
- Started in the US with the Wall Street Crash when the value of shares on the stock exchange collapsed
- Economic activity was reduced across the whole world which led to mass unemployment in the 1930s
- In Britain, unemployment affected 25% of the workforce
One-Nation Conservative
Believes that all classes in society have obligations to one another and that there is a particular responsibility for those who are better off to ensure the well-being of those who are worse off
Chancellor of the Exchequer
- The government minister responsible for economic and financial policy
- Often the most powerful person in the government after the prime minister
Appeasement
- A policy of making concessions in order to avoid conflict
- In the 1930s, the British government had aimed to prevent a war with Nazi Germany by following this policy, but failed
Unilateral Nuclear Disarmament
The policy of renouncing the use and possession of nuclear weapons without waiting for any international consultation or agreement
Nationalisation
- State ownership of key industries
- The demand for the state to control ‘the commanding heights of the economy’ had been a central principle of the Labour Party from its beginning
Productivity
- Efficiency: getting more produced per worker, per shift, per hourly wage etc
- Costs are reduced, profits are increased and workers are freed up for other uses
‘Stop-Go’ Economics
- The economics of ‘stop-go’ derived its name from the tensions between an expanding economy, with:
• low interest rates and rising consumer spending [go]
• the results of the economy overheating, with wages and imports exceeding productivity and exports [stop], necessitating a deliberate slowing down or deflating of the economy through higher interest rates and spending cuts
Balance of Trade
- The difference between the goods that a country imports and what it exports
- If a country imports more than it exports it is said to have a trade deficit, whereas if it exports more than it imports it has a trade surplus
Balance of Payment
- This includes invisible imports and exports: for example services such as shipping, banking, and insurance
- The balance of trade is part of the balance of payments
Run on the Pound
A rapid fall in the value of the pound in international currency markets, especially in relation to the US dollar
Sterling
A term used by economists for the British currency
Festival of Britain
Held a century after the Great Exhibition of 1851: this was intended to mark Britain’s recovery from the war and to look forward to the future celebrating new design, culture, and industry
Baby Boom
- In the years after the end of WWII, there was a rise in the number of babies born
- Those born between 1946 and 1964 are usually seen as the ‘baby boomers’
Infrastructure
The physical environment of a modern developed society including the network of communications, such as: • roads • railways • airports • telecommunications • the industrial base • public buildings • schools • the housing stock
Council House
- A house built by local authorities to house the working classes, often to replace slums
- Rents tended to be lower than in privately rented accommodation
Hire Purchase
- A system whereby a buyer pays a deposit on an expensive item and then pays monthly instalments (including interest) to hire the item over the length of a contract
- At the end of the contract, the buyer can pay the remaining balance or return the item
Butlins
- A chain of holiday camps founded by Billy Butlin in 1936
- Camps were built at popular seaside resorts like Skegness, Clacton, and Blackpool
- Guests stayed in chalets, entertainment and activities were provided
Family Allowance
- A weekly benefit paid for each child in a family
- Renamed child benefit in 1977
New Commonwealth
- The countries which had recently gained independence: India, Pakistan, the West Indies etc, as compared to the ‘Old Commonwealth’ countries such as Australia, New Zealand, Canada, and South Africa
- The term became a useful, indirect way of differentiating between non-white and white populations
Repatriation
Returning someone to their place of origin
National Service
- Compulsory military service for young men lasting for two years
- Introduced in 1947 and lasted until 1960
Atlantic Alliance
- A term used to refer to NATO (North Atlantic Treaty Organisation)
- Formed in 1949 to defend the Western Alliance in the Cold War
- Made up of 12 countries including Britain
- Created a collective defence policy: if any one of its members was attacked it would be defended by all of them
Superpower
An extremely powerful nation with influence on other countries
EEC (European Economic Community)
- An economic union, often known as the Common Market, first established by the Treaty of Rome in 1957
- It’s six founding members were:
• france
• germany
• italy
• the ‘benelux’ countries (belgium, the netherlands, and luxembourg) - The EEC became the European Union in 1992
Cold War
- The tension between the West (the US, Western Europe including Britain and Canada) and the Communist states (the USSR and its allies) after WWII
- Lasted from 1945 until the collapse of communism in 1989 to 1990 and had a great impact of Britain’s foreign policy throughout this period
‘Special Relationship’
- The close relationship between the UK and the US based on historical, diplomatic, cultural, economic, and military ties between the two countries
- Strengthened by being key allies during the Cold War and sharing the common objective of resisting the power of the USSR
EFTA (European Free Trade Association)
- Created in 1960 by Britain along with Austria, Denmark, Norway, Portugal, Sweden, and Switzerland as an alternative to the EEC
- These countries were sometimes referred to as the ‘outer seven’ as opposed the ‘inner six’ of the EEC
- Created a free trade area: although each EFTA member could negotiate separately with non-EFTA members
GDP (Gross Domestic Product)
A term used by economists for the for the total value of a nation’s economy
Devaluation
Lowers the value of a currency in comparison to others in a fixed exchange system
Prices and Incomes Policy
Government intervention to set limits on price rises and to call for wage restraint in negotiations between unions and employers
‘Wildcat’ Strikes
Sudden, unofficial local disputes begun without reference to the national leadership
White Paper
A document written by the government that sets out a possible policy direction but makes no commitments
Unionist
Supporter of the union of England, Wales, Scotland and Northern Ireland to form the United Kingdom
Nationalist
Someone who supports independence for Scotland or Wales or is in favour of a united Ireland separate from the UK
Irish Republican Army (IRA)
- Organisation that fought for independence in the Irish War of Independence
- Did not accept the partition of Ireland
Paramilitary
A non-State military force
Apprentice Boys
A loyalist (unionist) organisation that marches annually to commemorate the closing of the gates to the city of Derry to Catholic forces in 1688 by 13 apprentice boys
Free Vote
Individual MPs can vote according to their own conscience rather than following an official party line
Unanimity
- This meant that all 12 jurors had to agree on the verdict
- Majority verdicts meant that a decision could be reached if at least 10 jurors agreed
Decriminalisation
Removing an action or behaviour from the scope of the law so that it can no longer be subjected to prosecution or be liable to fines or imprisonment
Comprehensive School
- One which provides secondary education for all the children in a given area
- Not selective in terms of its pupils
Direct Grant Schools
- Mostly old, endowed grammar schools which admitted a substantial proportion of pupils on scholarships from the LEAs
- Phased out from 1976
Lord Chamberlain’s Office
- A department of the queen’s household
- Since the eighteenth century, it had the power to prevent plays being performed or order changes to be made to them (censorship)
Censorship
The attempt to limit what people can read, see, hear, and do through state controls and regulation
Europhiles
People who were enthusiastic about Britain’s membership of the EEC/EU
Eurosceptics
People who were opposed to the increasing influence and power of the EEC/EU
‘Lame Duck’ Industry
One that is unable to compete and survive without support from the state
Decimalisation
- This had been agreed in 1965 but came into force in 1971
- This new British currency would have 100 new pence, rather than 144 old pennies in the pound, bringing it more in line with the currencies of other European countries
Stagflation
A term used by economists to describe the usual combination of inflation and stagnant economic growth (which often produces unemployment) occurring at the same time