Unit 1 - Ideologies Flashcards
Principles of Collectivism
Economic Equality, Public Property, Cooperation, Collective Responsibility, Collective Interest
Economic Equality
Progressive taxes, wealth redistribution, social programs
Cooperation
Democracy, Civic Responsibility
Collective Interest
Labour Unions, NGO’s
Collective Responsibility
Enviro. stewardship, corporate resonsibility
Public Property
Nationalized (state owned) industries
Principles of Individualism
Private Property, Rule of Law, Individual Rights and Freedoms, Competition, Economic Freedom, Self-interest
Private Property
Any property or business owned by an individual, an individual can own and sell land/resources
Rule of Law
Believes that no one is above the law, all citizens are equal before the law
Individual Rights/Freedoms
Freedom of religion, association, and the right to life, liberty and security
Economic Freedom
Freedom to buy what you want and to sell your labour/idea/product to whoever, reduce trade barriers, lower taxes for corporations, prices based on suppy and demand
Competition
Leads to better prices for the consumer, ensures no company will have a monopoly, poor/inefficient ideas fail
Self-interest
May serve the community by improving products and services, people will innovate when motivated by profit
Adam Smith
Founder of capitalism/invisible hand, wealth of nations,laissez faire (market guides itself/hands off)
Flat Tax
Everyone pays the same rate no matter how much you make
What ideology is flat tax an example of?
Individualism
Progressive Taxation
The higher your income, the higher percentage you pay
The purpose of taxation is for gov’t’s to…
Generate revenue, redistribute wealth, stimulate economy
What ideology is progressive taxation an example of?
Collectivism
What are some beliefs that revolve around economic equality?
people should earn equal wages for similar work value, receive a guaranteed income, share in the wealth of the country
What foundations does collective interest set?
Labour/social movement, human rights groups
Tommy Douglas
Father of public healthcare, founded NDP, believed in solid safety net for citizens
Tommy Douglas: Individualist or collectivist?
Collectivist
Milton Freidmen
Little gov’t control, deregulation, economic freedom leads to growth and opprotunity
Milton Freidmen: Individualist or collectivist?
Indiviualist