Liberalism
Modern liberal economies were created in a response to this global event.
What is the Great Depression?
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
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.
What is "The Iron Curtain"?
This cycle is said to be endless in the economy and is the reason we see recessions.
What is the boom/bust cycle?
Belief that all members of society, regardless of wealth, all have equal access to the same system of medical care.
What is Universal Health Care?
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?
A famous example of brinkmanship from the Cold War
What is The Cuban Missile Crisis?
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?
As socialists and communists began to critique classical liberalism the capitalists began to realize that some changes needed to occur in the pure free system namely recognition of workers rights and protection in market economies. This became known as ___________________.
What is Welfare Capitalism?
This Canadian socialist party, formed in 1932, emerged in response to the economic hardships of the Great Depression of the 1930s and later evolved into today’s NDP.
What is the Co-operative Commonwealth Federation (CCF)?
One of the main difference between communist and fascist ideology.
What is the level of government involvement in the economy? (communism- maximum; fascism-minimum)
Instead of actual battlefield fighting, the US and the USSR proved their strength with wins in different ways (name at least 2 ways).
What are the Space Race, athletic competition, arms race, proxy wars, and espionage (spy craft)?
This government program offers financial support to unemployed workers, reflecting a shift away from classical liberalism toward collective economic responsibility.
What is employment insurance?
Adam Smith thought that __________ was the best ideology.
What is capitalism? -laissez-faire -invisible hand -free market
This is a radical form of socialism, we often call this the RADICAL COUSIN COMMUNISM....and the founder was our DEADLY UNCLE.
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 economic response involves the government increasing spending and regulating the economy to reduce the negative effects of economic instability.
What is government intervention?
Capitalists also believe that corporations and businesses should receive "TAX" B____ /I_______, and/or C__________ to motivate businesses to work harder and therefore to be even more successful.
What are 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, The Great Depression, through the use of this program
Who is Franklin D. Roosevelt (FDR), and he used the New Deal?