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52 Cards in this Set
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- Back
New Deal |
economic policies put in place by Franklin. D. Roosevelt (1933). Gave gov't more significant role in regulation of economy and providing social "safety net" programs |
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labour Unions |
provides a united voice that speaks for the rights of workers
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depression/Great Depression |
Great Depression: economic crisis that began in 1929 with the stock market crash and continued through the 1930s. As a result, banks failed, factories closed, many people became unemployed and international trade declined
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Social Services |
gov't services to benefit a community in areas such as education, medical care and housing |
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Frugality |
being reserved with your expenses; to not be extravagant |
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Dust Bowl |
The regions of the Canadian Prairies and the Great Plains of the U.S that were devastated by drought and dust storms of 1930s
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Regulation |
rule maintained by authority |
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Self-Reliance |
the quality of being solely responsible for one's own well-being
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Class Conflict |
class struggles that exist due to competing socioeconomic interests and desires between different people of different classes |
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Economic Equality |
collectivist
has different meanings depending on who you talk to for gov'ts, economic equality may come in the form of tax policies and ensuring equal wages for equal work |
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Entrepreneurship |
organization or management of a business |
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Primary Document |
a document created at the time of study; autobiography |
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Medieval Feudalism |
a combination of legal and military concepts to create a society that involves holding of land in exchange for service or labour |
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Industrial Revolution |
the movement that began in Britain in the 18th century in which machines became the new technology for faster, cheaper labour. Introduced classical and liberal ideologies |
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Nouveau Riche |
the "newly wealthy" who gained their wealth during the Industrial revolution. Ex: bankers, factory workers, lawyers, doctors
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Aristocracy |
the highest class in certain societies; ones that hold all of the titles |
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Free-market |
a market that operates with limited gov't intervention. Production and marketing of goods and services are decided through interaction of producers and consumers
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Individualism |
values the freedom and worth of the individual, sometimes over security and harmony of a group
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Liberal Economic Philosophies |
Depending on the context of the question, these may be economic philosophies based on either classical or modern (contemporary) liberalism.
Classical: Laissez-faire, supply-side, Reganomics, Thatcherism Modern: Keynesian, demand-side |
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Minority Rights |
individual rights to those not a part of majority rights; collectivist |
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Suffrage |
the right to vote |
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Classical Conservative |
says gov't should represent legac of the past and well being of present
society should be structured in a hierachial fashion gov't should be chosen due to limited electorate leaders should be humanitarian stability of society is important |
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"Conditions of Equality" |
classical liberals believe there is equality in opportunity, not equality in outcome. If you do your work well, you shall be rewarded with the job over someone else. |
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Reaganomics/Thatcherism |
Reaganomics: economic policies of Ronald Reagan, which advocates for less gov't intervention, pro-industry, anti-labour, anti-regulation, anti-environmental regulation policies
Thatcherism: same principles as Ronald Reagan, Margret Thatcher was the Conservative PM of Britain. Reduced gov't involvement in economy; increase economic freedom and entrepreneurship, privatized many companies |
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supply-side economics |
aka trickle-down economics; reduces income and business taxes, regulation, increased gov't spending on military. The idea is that if industries thrive, their success will "trickle down" to the working class therefore benefiting the whole of society
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Amnesty International, NGOs |
NGOs are "Non-governmental Organizations." Amnesty International is an example of one. Others include Greenpeace, Doctors Without Borders, World Wildlife Foundation, Red Cross. |
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Keynesian Economics |
during recessions, gov't should increase the money supply to alleviate the economic downturn and avoid a lasting depression. Then when times were good, to raise interest rates and cut back on gov't spending to cool down the economy. interventionist modern liberal |
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Demand-side economics |
Keynesian economics; advocates use of gov't spending and growth in the money |
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Business Cycle |
In a market (capitalist) economy based on laissez-fair economics, there will be highs (booms, strong growth) followed by losts (busts, recessions/depressions). Remember that Keynesian economics was intended to minimize the extremes by the use of government intervention in the economy. |
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Neoconservative |
emerged during 50s and 60s as a reaction against modern liberalism
favour "family values" and traditional ways of life; lean more towards classical liberalism but still challenges both liberalisms |
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Social Welfare |
a system that provides assistance to needy individuals and families |
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Cuban Missile Crisis |
the confrontation between the U.S and the Soviet Union in relation to missile placement in Cuba by the Soviets. This was the "hottest" moment of the Cold War.
1. Castro and his socialist revolution 2. Bay of Pigs invasion, which ended with greater distrust between Cuba and U.S 3. American gov't placed embargo on socialist Cuba 4. Soviets offer Cubans lots of financial aid 5. JFK orders naval blockade of Cuba 6. JFK agreed not to invade Cuba and to pull its missiles from Turkey if the Soviets removed its missiles from Cuba
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Detente |
A period of the COld War where both powers decided to lessen their tensions through diplomacy, arms talks and reductions, and cultural exchanges.
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Containment |
Cold War foreign policy that by establishing allies around the world, through trade and military alliance, the spread of communism would stop
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Brinkmanship |
pushing one's demand s to the point of threatening military action; usually refers to Cuban Missile Crisis |
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Expansionism |
country's foreign policy of acquiring additional territory through violation of another nation's sovereignty
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Proxy Wars |
conflicts in which one superpower provides support to a group or state that opposes the rival superpower in the form of money, arms or personnel.
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Socialists (different kinds) |
Marxist Utopian social democrats/ democratic socialists |
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Marshall Plan |
a plan to help the recovery of countries ravaged by war in Europe, communist or democratic. Wanted to strengthen Western Europe against the spread of communism |
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NATO, Warsaw Pact |
North Atlantic Treaty Organization, a military alliance designed to defend member countries against attack from the Soviet Union and its allies. Warsaw Pact: Communist equivalent to NATO, member were East Germany, USSR, Hungary, Poland, Romania, Albania, Bulgaria |
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European Community |
aka European Union: The economic and political union of a number of European countries |
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Berlin Blockade, "Iron Curtain" |
the barrier In Europe between self-governing, pro-democratic, pro-capitalist countries of West versus communist countries of East |
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SALT agreement |
Strategic Arms Limitations Talks - first introduced in 1969,Treaty between USSR and USA to limit nuclear and offensive weapons SALT II was never ratified because the U.S strongly opposed it and the Soviets invaded Afghanistan |
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Deterrance, MAD |
Cold War policy in which the superpowers aim to deter the other in strategic advances through arms development and arms build up
MAD: mutually assured destruction: the term used for an unwinnable nuclear war. Meant to deter each side from entering into direct conflict |
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Modern liberalism |
advocates for more gov't intervention
introduction of social programs support for the middle class human and civil rights "freedoms of" liberals or socialists |
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Classical liberalism |
advocates for limited gov't intervention
wants the "invisible hand" to guide the market free-market economy laissez-faire supports business class citizens "freedoms from" capitalists |
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Arms Race |
a competition between nations for superiority in the development and accumulation of weapons |
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Direct wars / Espionage |
the practice of spying or using spies, especially to obtain secret information
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Human/ Civil rights |
Human rights: "natural rights"; rights and freedoms all humans are entitled to
civil rights: right to political and social freedom ad equality |
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market-oriented |
aka: free market economy aka laissez-faire economics. advocates for less government intervention in the economy and to let the "invisible hand" of the market place determine the economy |
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inflation |
an increase in the general price of products, cost of labour and interest rates
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Cradle to Grave / Womb to Tomb |
social programs and a social "safety nets" created by the government to maintain the standard of living for people. |