Terms Flashcards
survive.
The “Fine-Tuned Liberal Democracy” Hypothesis
The theory is that everything has to be perfect for liberal democracy to work; anything bad is a result of an imperfect setting.
Socialism
No private ownership of anything, everything is public.
Democratic Socialism
More equal opportunities for everyone by focusing on taxing the rich.
Capitalism
Private individuals and organizations control the economy
Emergency Medical Treatment and Labor Act
The public has access to emergency medical care regardless if you can pay or not; this leads to free rider issue
Affordable Care Act
basic healthcare would be covered; more healthcare more accessible to low-income individuals
Government
Formal institutions where territory and people are ruled; are important because they provide structure in diff ways (economic, defense, etc.)
Free Rider/Collective Action Problem
Free riders are freeloaders who let everyone else do everything bc they can get the benefits for free; a collective action problem is when a group should work together but they fail to
Collective Goods
Benefits that are available to everyone and can’t be denied to nonmembers
Selective Incentives
Usually, an incentive is given to curb free-riders (ex. if you donate to company A you get to go to a party)
Principal-Agent Problem
conflict when the actor is given power by the principal but does not pick decisions that the principal would want (ex. a manager making bad financial decisions that the franchise owner did not want)
The Problem of Ignorance
People aren’t politically educated leading to bad decisions.
California Proposition 1 (2018)
The state sold $4 billion in bonds to fund veterans and affordable housing; an example of the problem of ignorance because no one knew if 4 billion was enough to solve those issues but just picked it because of “funding veterans and affordable housing”
Representative Democracy
The people pick representatives that make decisions for them
Direct Democracy
citizens vote directly on laws/issues, can lead to ignorance problem
Oligarchy
The powerful control the government/make the decisions (ex, the rich)
Autocracy
One person rules (ex. queen/king)
Constitutional Government
explicit limits are placed upon government powers
Authoritarian Government
no formal limits are placed on government powers but other institutions can limit them (ex. the church)
Totalitarian Government
no formal limits are placed on the government and it makes sure to oppress any other form of power (ex. the government in the Hunger Games)