Liberalism and its Origins (Vocab) Flashcards
political views that favour traditional values and ideas that favour free enterprise and private ownership
Conservatism
political doctrine where protecting and enhancing individual freedom is the central focus of political and economic functions
Liberalism
a system to characterize and classify different political positions in relation to one another
Political Spectrum
citizens vote on issues instead of for candidates or parties
Direct democracy
a governmental system in which power is concentrated in the hands of a small group of unelected people
Oligarchy
a form of monarchy in which the monarch rules in their own right or power
Absolute Monarchy
the great ‘Age of Reason’ – is the period of rigorous scientific, political, and philosophical discourse that characterized European society during the ‘long’ 18th century: from the late 17th century to the end of the Napoleonic Wars in 1815.
The Enlightenment
an economic system based on free markets, private ownership of the means of production, competition, wise consumers, and profit-motivated producers
Capitalism
the belief that kings derived their authority from God and could not, therefore, be held accountable for their actions by any earthly authority
Divine right of kings
an economic system in which individuals are free to own property, produce goods, and buy or sell goods and services with little or no government interference; sometimes also referred to as capitalism, the market system, free enterprise, private enterprise
Free market system
if what you are doing does not hurt anyone else, then you should be free to do it without government interference.
Harm principle
in economics, the concept that individual self-interest and competition would regulate the economy.
Invisible hand
an economic theory or system that advocates little or no government interference in the economic affairs of the people.
Laissez-faire
an economic system that was characterized by efforts to restrict trade between nations, regulate economic activity, and accumulate gold bullion in the national treasury.
Mercantilism
universal and inalienable rights held by all human beings (eg. in John Locke’s philosophy).
Natural rights
one’s interest or advantage
Self-interest
the process of monitoring your thoughts, feelings, and behaviours
Self-regulating
people live together in society by an agreement that establishes moral and political rules of behaviour
Social contract
when the majority of the people pursues exclusively its objectives at the expense of those of the minority
Tyranny of the majority
work done in/at home
Domestic system
the stage of economic development during which the application of technology results in mass production and mass consumption within a country.
Industrialization
newly wealthy
Nouveau riche
an increase in the number of people residing in cities and an extension of urban boundaries to include areas that were previously rural
Urbanization
Document outlining the fundamental rights available to all Canadian
Charter of Rights and Freedoms
a legislative body formed of representatives of the people in a democracy
Parliament
The idea that the “right” choice is the one that results in the greatest good for the greatest number of people
Utilitarianism
a belief that the only time you should restrict someone’s rights is if they are going to harm somebody else
Harm Principle
The right to freely vote in an election
Suffrage
The idea that individual voices may be silenced because the majority of people disagree with those voices.
Tyranny of the Majority
A form of government in which the rights and freedoms of individuals are guaranteed, including the right to vote for political leaders of their country.
Liberal Democracies
organizations that try to improve working conditions for a group of workers.
Labour Unions
An ideology developed over time to address concerns with the inequality and injustices created by capitalist society while remaining focused on individual rights.
Modern Liberalism
A society in which government plays a large role in providing for the needs of its citizens through social programs, based on the principles of equality of opportunity and equitable distribution of wealth.
Welfare State
For six weeks, from May 15 to June 26, more than 30,000 strikers brought economic activity to a standstill by walking out on a general strike in Winnipeg, Manitoba.
Winnipeg General Strike (1919)
a legislature that is comprised of two legislative “houses”, both of which must approve a bill before it becomes law
Bicameral legislature
a proposed law under consideration by the government
Bill
in a parliamentary system, the term used to describe a situation where two or more rival parties agree to work together, combining the seats they have won in an election in order to have sufficient total seats to form the government
Coalition government
develop and decide on proposals with the aim, or requirement, of acceptance by all
Consensus decision-making
all people vote on all government decisions
Direct democracy
the citizens within a population who are eligible to vote
Electorate
the right to vote
Franchise
represent the will of specific groups of people by influencing elected officials to vote on issues based on the groups’ values and beliefs
Interest groups
in a parliamentary system, the term used to describe a situation where the governing party has more than 50% of the available seats in the legislature
Majority government
in a parliamentary system, the term used to describe a situation where the governing party has more seats than any other party in the legislature, but has less than 50% of the total seats
Minority government
the direct vote of all the members of an electorate on an important public question such as a change in the constitution
Plebiscite
gains seats in proportion to the number of votes cast for them
Proportional representation
a political process by which the electorate, by way of a new election outside of the time frame of regular general elections, may reverse a previous decision to elect an individual to public office
Recall
a direct vote by the electorate on an issue of importance
Referendum
people vote for representatives who then make decisions on issues
Representative democracy
a system under which individuals elected to government represent roughly similar numbers of citizens
Representation by population
an electoral system in which the winning candidate is the one who receives the highest number of votes; also called first-past-the-post
Simple plurality system
a system under which a single individual represents the citizens of a riding or constituency
Single member constituency
the right to vote in political elections
Suffrage
a system of laws that formally states people’s rights and duties
Constitution
the percentage of the total votes cast received by a candidate or a political party
Popular vote
a liberal movement of the early 20th century that sought political, economic, and social reform in the United States.
Progressivism
ensures that every area of legislation comes under one or both orders of government
Residual powers
the provision that voters should be able to cast their ballot in private and that no other individual should know how they voted unless the voter wishes to inform them.
Secret ballot
extreme individualism
Capitalism
believe society must care for the needs of the entire population and thus control and plan the economy rather than leave it to external factors.
Collectivists
extreme collectivism
Communism
voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, without government intervention
Free markets
believe the individual must satisfy her or his own needs and should not rely on society for help and thus has a hands-off approach to the economy.
Individualists
include government involvement in economic decision-making, yet they still maintain a citizen’s freedom
Mixed economies
regulates the concentration of economic power to prevent companies from price colluding or creating monopolies.
Antitrust law
a period of increased commercial activity within either a business, market, industry, or economy as a whole.
Boom
a period during which economic growth decreases rapidly. During this time, inflation decreases, and in extreme cases, can give way to deflation. In addition, unemployment rises, income falls, and aggregate demand decreases.
Bust
in economics, the concept that individual self-interest and competition would regulate the economy.
Invisible hand
an economic theory or system that advocates little or no government interference in the economic affairs of the people.
Laissez-faire
exclusive possession or control of the supply of or trade in a commodity or service
Monopoly
a series of economic measures introduced by US President Franklin D. Roosevelt during the Great Depression (1929 through the 1930s) which increased the role of the US government in the economy
New deal
a significant decline in economic activity that is spread across the economy and that lasts more than a few months
Recession
the balance between items produced and items purchased
Supply and demand
from the time a person is born until the person dies
Cradle to grave
an economic system in which free-market principles are combined with some degree of government intervention, usually to regulate the industry, moderate the boom-and-bust nature of the free-market business cycle, and offer social welfare programs.
Mixed economy
a system of taxation in which the more money a person makes, the more tax that person pays
Progressive taxation
money people pay to the government. The government uses money from taxes to fund social programs for all Canadians
Subsidy
the theory that the demand for goods and services drives economic activity
Demand Side Economics
a political approach that favors free-market capitalism, deregulation, and reduction in government spending
Neoliberalism
the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
Macroeconomics
the part of economics concerned with single factors and the effects of individual decisions
Microeconomics
the theory that maintains that decreasing taxes will increase the supply of goods and services for economic growth
Supply Side Economics
