Political doctrine/philosophy.

Question 1

Socialism

Answer 1

Is a socio-economic system in which property and the
distribution of wealth is subject to control by the workers,
either directly through popular collectives such as workers’
councils, or indirectly exercised on behalf of the people by the
state, and in which Egalitarianism or equality is an important
goal.

Question 2

capitalism

Answer 2

Was coined by Adam Smith as an economic system where private actors are allowed to own and control the use of property in accord with their own interests, and where the invisible hand of the pricing mechanism coordinates supply and demand in markets in a way that is automatically in the best interests of society.
 Government, in this perspective, is often described as responsible for peace, justice, and tolerable taxes.
 Markets exist within institutional frameworks/policies that are provided by political authorities.
 Capitalism is organised in a three level system. Thus; markets occupy the first level where the competition takes place; the institutional foundations or laws that governing those markets are the second level; and the political authority that administers the system is the third level.

In this broader perspective government has two distinct roles:
(1) To administer the existing institutional frameworks,
including the provision of infrastructure and the administration
of laws and regulations.
(2) To mobilize political power to bring about modernization of
those frameworks as circumstances and/or societal priorities
change.
 Thus, for a capitalist system to evolve in an effective developmental sense through time, it must have two hands and not one: an invisible hand that focuses on the pricing
mechanism and a visible hand that is explicitly managed by government through a legislature and a bureaucracy.
 Inevitably the visible hand has a strategy, no matter how
coherent, short sighted or incoherent that strategy may be.

Question 3

Anarchism

Answer 3

o Derived from Greek ‘anarchos’ (without ruler)
o Believes government is unnecessary and harmful
o Argues the State lacks moral legitimacy

Question 4

Communism

Answer 4

o Promotes classless, stateless society
o Based on common ownership of production means
o Emphasizes working class replacing ruling class

Question 5

Liberalism

Answer 5

emphasise individual rights and equality of opportunity.
 Liberalists believe in freedom of thought and freedom of speech, limitations on
the power of governments, the application of the rule of law, a market
economy/ mixed economy with both private-owned and state-owned
enterprises, transparent and democratic system of government

Question 6

Conservatism

Answer 6

Favors tradition, opposes radical change