Ideologies
This term refers to an economic and political system where property, business, and industry are owned by private individuals or corporations.
This philosopher believed revolution was the best way to end class struggle.
Who is Karl Marx?
3 ways for authoritarian governments to maintain power.
What is fear/terror, indoctrination, censorship, propaganda, one-party rule, controlled participation... any 3
A famous example of brinkmanship during The Cold War was
The Cuban Missile Crisis
This cycle is said to be endless in the economy and is the reason we see recessions.
What is the boom/bust cycle?
This “invisible hand” economist is widely known as the father of classical liberalism and free-market capitalism.
Adam Smith
Today's version of this ideology is associated with democratic socialism which allows for some private ownership but is characterized by heavy governmental intervention to achieve the common good to create the welfare state.
What is socialism?
Hitler blaming the Jewish and Roma people for Germany's problems was an example of this.
What is scapegoating?
This 1947 U.S. policy pledged financial and military aid to nations like Greece and Turkey to protect them from falling under communist influence.
The Truman Doctrine
Keynesian Economics states that in order to correct a __________________ the government should lower interest rates (Monetary Policy), lower personal taxes, and increase government spending (expenditures).
What is a recession?
This economic system features free enterprise alongside government intervention and social safety nets.
Mixed Economy
This phrase was coined by Winston Churchill in 1946 to describe the border between Soviet-dominated countries in Eastern Europe and the nations of Western Europe.
The Iron Curtain
One of the main difference between communist and fascist ideology.
What is the level of government involvement in the economy? (communism- maximum; fascism-minimum)
This was the United States' primary geopolitical strategy that aimed to stop the spread of communism abroad.
Containment
Roosevelt’s New Deal was a series of programs that focused on these three R's.
What are Relief, Recovery, and Reform?
Adam Smith thought that __________ was the best ideology.
What is capitalism? -laissez-faire -invisible hand -free market
This is a radical form of socialism, often called scientific socialism or communism.
What is Marxism?
German citizens were destitute (very, very broke) after World War 1 (at the time known as "The Great War") because of this document.
What is the Treaty of Versailles?
One of the American policies designed to contain the spread of communism was this plan.
What is the Marshall Plan? The Truman Doctrine is also an example of this, but was not directly covered in class.
This core value of individualism gives citizens the autonomy to buy, sell, trade, and invest based entirely on personal choice.
Economic Freedom
Capitalists also believe that corporations and businesses should receive_____________________________ to motivate businesses to work harder and therefore to be even more successful.
What are tax breaks/incentives/concessions?
The exclusive ownership or control of a business, industry or trade that destroys the principle of competition and consumerism.
What are monopolies?
The leader of the Bolshevik revolution.
Who is Lenin?
This put an end to the delicate "detente" between the 2 superpowers after the Cuban Missile Crisis.
What was the Soviet invasion of Afghanistan?
He was the first world leader to use Keynesian economics to halt this global event through the use of this program.
Who is Franklin D. Roosevelt (FDR)