Liberalism Terms Flashcards

1
Q

The end of history

A
  • an argument made by Francis Fukuyama that mankind has reached the endpoint of its ideological evolution with Western liberal democracy as the final form of human government. The liberal, democratic, capitalist society under construction by the European powers is the closest to achieving this endpoint.
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2
Q

globalization

A
  • process by which the world and its people are increasingly interconnected and interdependent. The spread of cultural, economic, and social relations.
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3
Q

complex interdependence

A
  • mutual dependence characterized by multiple channels of contact between states, limited use of force to resolve disputes between states in the interdependent relationship, and a nonhierchical view of state goals and issues.
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4
Q

Just War Theory

A
  • a central theory of idealism that establishes a set of criteria about when it is acceptable to use force (just ad bellum) and a set of criteria establishing acceptable conduct of combatants in a war (just in bello).
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5
Q

natural law

A
  • universal laws that are common to all human beings, derived from nature and not from political and social rules
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6
Q

social contract

A
  • individuals consent to the creation and power of a government to protect their rights and promote the public good.
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7
Q

republics

A
  • a state in which the citizens vote for elected officials who represent them in a government operated by the rule of law
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8
Q

democratic peace theory

A
  • following from the writings of Immanuel Kant, democratic institutions are conducive to peace between democracies.
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9
Q

functionalism

A
  • a theory pioneered by David Mitrany that postulates that multilateral arrangements and institutions will be created to deal with the plethora of problems that one state can not solve alone. This cooperation will necessarily spill over into other areas.
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10
Q

neofunctionalism

A
  • created by Ernest Haas, a theory of integration that is the basis for European integration
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11
Q

Game Theory

A
  • an approach that utilizes mathematical and logical analysis to explain interactions among actors to demonstrate the difficulties of cooperating and the means to overcome them. Outcomes are produced based on the utilities of the actors and they often result in unintended consequences, leaving the actors worse off than they planned.
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12
Q

capitalism

A
  • economic system in which the means of production are privately owned for profit. Capitalism includes free markets, wage labour, and private property.
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13
Q

laissez-faire

A
  • a market free from political restrictions and regulations except those that are absoloutely necessary for the proper functioning of the market
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14
Q

corn laws

A
  • tariffs and other agricultural restrictions designed to protect British landowners in the late 18th century and early 19th century. The laws were repealed in 1846.
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15
Q

Keynesianism

A
  • a strain of liberal economics developed by John Maynard Keynes in the 1930s in response to the Great Depression. Keynes focused on total spending in the economy and how to avoid inflation through increased government spending and lower taxes to stimulate demand and create jobs.
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16
Q

paradox of thrift

A
  • a term coined by John Maynard Keynes to describe when a society is faced with recession or depression and individuals are faced with unemployment. If a person fears unemployment, one rational response is to save money and spend less. Spending less slows the economy, and as purchasing falls, so does production and employment. A spiral ensues of decreasing employment, purchasing, and production, and an economic catastrophe ensues.
17
Q

monetarism

A
  • theory developed by Milton Friedman that postulates that inflation will be controlled by a regulated money supply (keeping the supply and demand at equilibrium) so the maintenance of price stability should be the main focus of monetary authorities
18
Q

Principal-agent theory

A
  • an element of neoliberal theory thought that questions how much authority states are willing to entrust to international institutions. States are the principals and they delegate authority and tasks to institutions as their agents