Terms Flashcards
Increasing interconnectedness of the world
Globalization
A psychological sense of identity based on shared ethnicity, language, history, or culture
Nation
Formal policymakers within the government including the executive, legislature, judiciary, and the bureaucracy
Instituions
A government in which the system has not changed even though there have been different leaders
Regime
A government with both authoritarian and democratic elements
Hybrid Regime
The people’s belief in the government’s right to rule
Legitimacy
A fair and understandable system of laws that are followed and apply to everyone
Rational/Legal Legitimacy
Because it has always been that way
Traditional Legitimacy
Based on a ruler’s engaging personality
Charismatic Legitimacy
The ability of a government to rule without any internal or external influence
Sovereignty
Measures life expectancy, birth and death rates, education, quality of life
HDI (Human Development Index)
The total value of goods and services produced in a country
GDP
The total value of goods and services divided by the population
GDP Per Capita
Measures income equality
Gini Index
These countries have high GDP per capita and HDI rankings; service based economies
Developed Countries
These countries are emerging economies; based on production
Developing Countries
These countries have low GDP per capita and HDI rankings; agricultural
Underdeveloped Countries
These countries are the poorest of the poor
Least Developed
The relationship between government policies and the economy
Political Economy
The move to a free market from by reducing tariffs, trade barriers, and government control over the economy
Economic Liberalization
This economic system sets wages, production, and market prices based on supply and demand with less government interference
Market Economies
The government makes decisions regarding wages, prices, and production, and private property is limited
Command Economy
A system of government based on the writings of Karl Marx in which the stated goal is economic equality
Communism
The government provides support to citizens, such as unemployment benefits and health care
Welfare State
States that derive a significant portion of their revenues from rent (such as renting land to oil companies)
Rentier States
