How the economy works
This system allows individuals to privately own resources and make decisions based on supply and demand with little government interference.
What is a market economy (free market)?
This ideology believes in individual rights, freedoms, private property, and minimal government involvement
What is Classical Liberalism?
An economist who believed in free markets, self-interest, and limited government; introduced the idea of the “invisible hand.”
Who is Adam Smith?
This term refers to the working class in a capitalist system.
What is the proletariat?
This technique involves spreading biased or misleading information to influence people usually through posters
What is propaganda?
An ideology where the state controls all means of production, focuses on equality, and prioritizes the common good over individual gain; in theory aims for a classless society.
What is communism?
This ideology supports protecting rights and freedoms while also allowing government to intervene for equality and justice
What is Modern Liberalism?
A German economist and philosopher who explains the need for THE REVOLUTION that would be between the proletariat (workers) and the bourgeoisie (business owners) who believed workers should overthrow capitalism to create a classless society
Who is Karl Marx?
This program focused on relief, recovery, and reform during an economic crisis (The Great Depression)
What is the New Deal?
This technique involves controlling or restricting information and media.
What is censorship?
This ideology supports public or government control of resources to promote economic equality and benefit everyone
What is socialism?
This ideology emphasizes tradition, hierarchy, and stability with limited change.
What is conservatism (classical conservatism)?
This U.S. president created the Square Deal and forced fair negotiations between workers and business owners.
Who is Theodore Roosevelt?
These terms distinguish ownership by individuals or businesses versus ownership by the government.
What is private vs. public?
This theory argues a small revolutionary party must lead workers to overthrow capitalism.
What is Leninism?
A system where businesses provide social programs (fair wages, education, unions) to support workers while still operating in a capitalist economy
What is welfare capitalism?
A political ideology characterized by a strong, centralized authoritarian government that prioritizes the nation or a specific race above individual rights. It often involves strict social and economic control, suppression of opposition, militarism, and is typically led by a dictator
What is Fascism?
This thinker believed too much freedom leads to chaos and supported traditional hierarchy and elite leadership.
Who is Edmund Burke?
This is when the government takes ownership or control of industries or resources.
What is nationalization?
This form of communism is characterized by strict control, fear, and dictatorship.
What is Stalinism?
This theory argues that government intervention using spending, taxes, and interest rates is needed to stabilize the economy.
What is Keynesian economics?
A form of fascism that promotes extreme nationalism, racial superiority, and obedience to a powerful dictator, while suppressing opposition and targeting minority groups.
What is Nazism?
A utopian socialist who improved working conditions and believed businesses should support worker welfare to improve productivity and society
Who is Robert Owen?
This policy forces shared control of agriculture and industry for the collective good.
What is collectivization?
This type of leader uses propaganda, censorship, scapegoating, terror, and secret police to maintain power
What is a dictator?