Glossary of POSC 100 Final
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- Understand the significance of Adam Smith and David Ricardo for capitalist political economy and free trade arguments
- Adam Smith: laissez-faire doctrine- when demand for good - respond by producing and distributing. "desire for profit is the invisible hand that guides" roads/post office-gov't mono. regulate banking, currency, contracts
David Ricardo: labor theory of value/ comparative edu
- Understand the meaning of laissez faire and comparative advantage.
- Laissez-faire: classic economic philosophy that holds that owners of business should be allowed to make their own production and distribution decisions w/ out gov't regulation or control.
Comparative adv: (Ricardo's law) why beneficial to trade even though one may be able to produce every item more cheaply. ratio between how easily the 2 countries can produce different goods.
- Be generally familiar with Marx's theories of the two crises that capitalism is prone to
- free market exploitative b/c producers can compel workers to labor @ wages below the value they add to the production and can force consumers to pay higher prices for goods than justified by cost of production
- Fiscal Policy
- taxing and spending. economic management by which gov't attempts to maintain a stable economy through its taxing and spending policies. demand/supply side. annual fed. budget
- Monetary Polcy
- quicker than fiscal policy. a tool of economic management available to gov't based on manipulation of the amount of money in circulation.
- Difference between progressive/graduated income taxes and regressive/flat tax rates
- Progressive: tax on personal income in which the tax rate increases as income increases.
Regressive: lower tax breaks for rich/business
- Federal Reserve System. also be familiar with its role in formulationg monetary policy and the policy instruments it has at its disposal.
- "fed" control money supply. Regulate activities of all national banks and some state banks. Controls reserve and interest rates
- Know what protectionism and what neomercantilism is.
- Protectionism: view that the immediate interests of domestic producers should have a higher priority than should free trade between nations
Neomercantilism: encourage exports/discourage imports
- Be familiar with the orgins of the International Monetary fund and the World Bank and know what they do
- created at the 1944 bretton woods conference by the United States and Great Britain- provide financial assistance to developing counrties. World bank - long term loans. international monetary fund - short term
- Know what the World trade organization is and NAFTA is, and what the European Union is.
- World trade orginization: formal institution through which most nations negotiate general rules of international trade/adjudicates disagreements over meanings of these rules.
NAFTA: North American free trade agreement canada/north america/mexico
European Union: 25 counrty-25% of world's economy
- Be familiar with trends related to the U.S. balance of trade
- difference between $$ value of exports and imports. trade defecit since 1975 increasing
- Be familiar with the main ideas of Keynesian economics in both its domestic and global aspects.
- Keynesian economics: (fiscal polisy) gov't efforts to stimulate consumer spending-demand side economics/deficit spending/gov't response should be commensurate w/ the severity of the problem. (democrats)
- supply side economics
- form of fiscal policy that emphasizes "supply" (production) ex) tax cut for business (republican)
- Be familiar with the main ideas of monetarists theorists of economics
- control of $$ supply is key to sustaining healthy economy. Hightening/loosening $$ as way of slowing/invigorating economy
- Know how the united states ranks in comparison of global economic competitiveness
- US relies more heavily on private ownership/initiative. One lesser supporters for enviornmental protection. US single largest source of carbon emissions.
- Be familiar in a general way with the achievements of the progressive and new deal regulatory eras, as well as the third wave of "new socialism"
- Progressive: first wave of reforms-break power of trusts placing constraints on unfair business
new deal: 2nd wave, stimulate economic recovery reg. policies
new social reg: 60s/70s enviornment, consumer, worker safety. broader mandates
- Understand the difference between conserationism and environmentalism
- conservationism: (older wave) land conservation "dual use"
enviornmentalism: (newer wave) air, water, and ground pollutants
- Understand the concept of externalities as they relate to enviornmental regulation
- externalities: burdens that society incurs when firms fail to pay the full cost of production
ex) pollution when corp. dump industrial waste into the water
- Be familiar with air and water quality and the effect of enviornmental regulation on it. Also be familiar with what Patterson has to say about attempts to regulate toxic waste disposal.
- 1970/EPA. Pollution levels down since 1960. smog/open sewers. toxic waste emissions cut in 1/2 (40 years) urban air pollution down by 60%
- Be familiar with trends related to the expansion of enviornmental regulations. when has regulation grown at a robust rate and wen has growth been slower or even non-existent.
- expanded very fast 70-75
- Know who Rachel Carsons was and her relevance for the environmental movement.
- wrote "the silent spring" while dyeing of breast cancer about harmful pesticides/scientific progress = good. Appeared at senate hearing 63' clean air act and 65 water quality act
- Understand the concept of "pollution credits"
- LOOK UP
- Know what the greenhouse effect is and be familiar with other aspects of environmental "crisis" sush as the destruction of tropical rainforests, resource depletion, and species extinction
- greenhouse effect: carbon emissions result in heat being trapped in atmosphere
- Know when the EPA was created and who was president at the time
- 1970/ President Nixon
- Know how the government defines poverty and who the poor are in the demographic terms
- government defines poor by poverty line/ $19,000. Poorer in rural area (1 in 7) vs. Urban (1 in 9)
- Know how the U.S. compares internationally on measures oof child poverty and poverty generally.
- 1 in 5 american children poor. 1 in 9 americans poor
- Be familiar with the different philosophies of the democratic and republican parties in relation to social welfare legislation.
- democrats: initiated nearly all major fed. welfare programs
republican: gov't role whould be kept as small as practical
- Be familiar with how the United States compares with European democracies on measures of socioeconomic inequality
- europe offers paid med. insurance, higher school testing scores, lower poverty
- Know about U.S. tax rates and how they compare with those in European nations
- U.S. -tops out at 35%
Europe - tops out at 50%
- Know what a transfer payment is and what an etitlement program is
- transfer payment: gov't benefit given directly to an individual ex) SS check
entitlement program: any of a # of individual benefits suchas social security that require gov't to provide a designated benefit to any person who legally defined criteria.
- Know the difference between social insurance and public assistance is.
- social insurance: social welfare programs based on the "insurance" concept, requiring that individuals pay into the program in order to be eligible to receive funds from it Ex) SS
Public assistance: social welfare programs funded through general tax revenues and available only to the financially need.
- Know what the Social Security program is and how it is funded. Also be familiar with arguments regarding demographic trends which portend trouble for it.
- social security: SS act of 1935,funded through payroll taxes on employers + employees (6.2%) Retired ppl get $$. Paid by current workers.
- Understand the difference between medicare and medicaid
- medicare: 1965-provides medical assistance to retirees - funded by payroll taxes
Medicaid-1965- provides health care for poor people who are already on welfare-funded by general tax revenues
- Know what means testing is and how it relates to public assistance programs.
- means testing: requirement that applicants for public assistance must demonstrate that they are poor in order to be eligible for the assistance.
- Be familiar with the provisions of the 1996 welfare reform act and how it affected AFDC
- terminated AFDC, replaced with TANF. replaces system w/ cash grants to states- given responsibility for caring for welfare recipients and getting them jobs. no longer than 5 years w/ in 2 years of recieving, must find work
- Be familiar with US sending on education compared ti Europe and the percentage of U.S college graduates compared to those in Europe
- US spending on education highest/twice as high. world leader in college graduates
- understand why Patterson says the social welfare states in Europe are different from those in the United states
- cultural and historical differences. economic privilege of aristocrats. industrialization brought about strong labor and socialist parties
- Be familiar with the difference between foreign party realism and liberalism
- realism: (thomas hobbes) war natural/inevitable. global system= anarchistic b/c lack of central authority. state paramount entity in foreign affairs. balane of power.
Liberalism: cooperation as possible. Cooperatie relations between nations. Internationalism/collective security. Promoting democracy/human rights
- Be familiar with the difference between multilateralism and unilateralism as well as the difference between isolationism and internationalism as they apply to foreign policy
- mulitlateralism: situation in which nations act together in response to problems & crisis.
unilateral: one nation
isolationism: view that the country should delibrately avoid a large role in world affairs and instead concentrate on domestic concerns
internationalism: view that the country should involve itself deeply in world affairs.
- understand the dbate in the lead up to the invasion of Iraq and the effect of the debate on the trans atlantic alliance
- trans atlantic alliance - strained
- be familiar with George Kennan's containment doctrine and its role in the cold war
- containment doctrine- holding back and restricting spread of communism
- Know how the United States compare with other countries in defense spending
- U.S. spends the most/ more than twice nato alliance
- Be familiar with the Marshall plan and what it did
- european recovery plan. $3 billion in immediate aid, $10 billion to follow. helped US too/deficit spending and trade market.
- Know when the United Nations was established, what it does, and generally how it is organized.
- est. after WWII by victorious allies (US, france, Britain, Soviet union, Rep. of China) mulitlateral policymaking
- Be familiar with trends in US assistance to developing nations relative to other nations
- most in terms of dollars, but not in terms of % of its wealth
- Be familiar with the rate of growth of the U.S trade deficie over the last 25 years
- increased/ no surplus since 1975
- understand what "nation-building" is
- foreign policy-conrtucting new nations/governments
- Be familiar with which president committed the US to the Korean war and which president was in office during the Gulf of Tonkin incident
- Korean war: president truman
Gulf of Tonkin: President Lyndon Johnson
- Be familiar with the major steps by which the US became involved in Vietnam
- coldwar w/ soviets - soviets backed N Korea, invaded S Korea
- Be familiar with who the Iranian Prime Minister was who was overthrown by the US and Great Britain in the 1950s and which US president was in office at the time
- Prime minister Dr. Mohammed Mossadegh / President Eisenhower
- Be familiar with classical liberalism as an ideology and the liberal theorists who was most influential on early American thought. Understand the role of "natural rights" and "social contract" in the thought of Locke and Hobbes
- classical liberalism: gov't do more to some country's problems. dont support trad. values @ expense of less conventional.
- Be familiar with public opinion polling and polling techniques. Know how to avoid "sampling error" Know the difference between a population and a sample.
- respondants chosen by random. 1000 ppl. sampling error- indicates likelihood that the responses of sample accurately represent larger sample - smaller sampling error.
- Understand the significance of the 15th, 19th, 24th, and 26th amendments for voter participation in America.
- 15th - right to vote, regardless of race/color
19th - womens suffrage
24th - no poll tax
26th - 18+ right to vote
- Be familiar with trends in US voter participation sinche 1960
- Understand the difference between the Virginia and New Jersey Plans regarding representation.
- Virginia Plan: (large state) constitution proposal for a strong congress w/ 2 chambers. both oof which would be based one numerical rep. granting more power to larger states
New Jersey Plan: (small state) strengthened congress, in which each state would have 1 vote.
- Know how the conflict over the ratification of the constitution led to the adoption of the bill of rights and know which part of the constitution the bill of rights is.
- feared no safegaurd should be omitted...led to inclusion. 1st
- Undertsand the relevance of McCulloch vs. Maryland and Marbury vs. Madison
- McCulloch vs. Maryland: worker McCulloch @ US bank refused to pay taxes. Ruled in favor of national authority. Implied powers "Nec. and proper" supremacy clause
Marbury vs. Madison: foundation for judicial review
- understand how the bill of rights was made to apply to state and local government through "selective incorporation"
- absorption of certain provisions of bill of rights. freedom of speech into the 14th amendment. can be protected from infringement of states.
- understand the significance of Plessy vs. Ferguson and Brown vs. Board of education
- Plessy v. Ferguson: seperate but equal
Brown v. board: reversed plessy v. ferguson
- Know what affirmative action is and be familiar with Bakke vs. California Regents as well as more recent trends in court decisions dealing with affirmative action.
- affirmative action: deliberate effort to provide full and equal opportunities in employment, education, and other areas for members of traditionally disadvantaged groups
bakke v. cal regents: rigid racial quotas not used in determining med. school admissions.
- Know how parties originated in America and be familiar with the evolution of party systems up through the emergence of the democratic-republican party in 1860
- Thomas Jefferson v. Alexander hamilton. T. jefferson - republicans. A. Hamilton - federalists (ended 1800) then there was the whigs. Republican party split into andrew jackson's democrats and republicans
- Know what is meant by the terms realigning and dealiging elections and be familiar with the major realignments in american history as well as any dealignments tht have occured
- realigning: electorates respond strong to an extraordinary powerful issue that has disruptd the establised political order.
civil war realignment: republicans replaced democrats
1896 election: repub. again
Great Depression: democrats replaced republicans
- Know the diifference between a single member district electoral system and one based on proportional representation. be able to recognize examples of each.
- single member district: form of representation in which only the candidate who gets the most votes in a districe wins office.
Proportional representation: seats in the legislature are allocated proportionally according to each political party's share of the popular vote.
- Duverger's Law
- majority voting naturally leads to a two party system
- Understand what the FCC is and what the requirements of the "equal time" restriction
- FCC- federal communications commision- sets regulations, meet certain standards
equal time restriction: cant sell/give air time to a political candidate w/ out granting equal opportunities to the other candidate running for the same office.
- Know what Patterson has to say about diversity of opinion in the US press and know why he says why he argues there is a homogenization of views presented by US news orginizations
- highlight same stories and interpret in similar ways. Competing w/ one another. AP 95% of nations dalies. Megamedia
- Be familiar with first amendment protections against prior restraint
- gov't prohibition of speech or publication before the face. unconstitutional unless justification is overwhelming.
- know what a filibuster is and what a vote of cloture is (know how much of a majority vote is required to invoke cloture)
- filibuster: procedural tactic in senate - minority prevent a bill from coming to vote by holding the floor and talking until the majority gives in and bill is withdrawn.
cloture: 3/5 majority vote limits senate debate to 30 hours-defeats filibuster
- Know who the presiding officer of the house is and who the constitution names as presiding officer of the senate.
- house: Speaker
Senate: Vice President
- Know what Patterson has to say about factors which influence the success of a president in getting his legislative proposals passed by congress. Also be familiar with trends in presidential success over time - early in a presidency vs. late.
- force of circumstance, stage of presidency, nature of issue, pres. support in congress, level of public support. Honeymoon period.
- Know what a presidential veto is and what it takes for congress to overridee it.
- congress can override w/ a 2/3 vote of each chamber.
- Understand the impeachment process.
- HOR decides whether pres. should be impeached or not, senate conducts the trial then vites on the pres. case w/ 2/3 vote required.
house decides - house judiciary commitee - majority vote to indict - senate
- Be familiar with the war powers act - what its provision are and how effective it has been in restraining presidents.
- war powers act: requires pres. to notify congress of reason for committing combat w/ in 48 hrs of deployment. hostilities must end w/ in 60 days unless congress extends, plus 30 days to withdraw troops.
- Know how supremem court justices are selected and confirmed
- appointed by president, gain senate approval by majority. judiciary comm. recomends
- understand the different types of opinions that can be written by supreme court justices and their purposes.
- Majority: results when a majority of justices are in agreement on legal basis of decision
pluralty: results when a majority of justices agree on a decision, but not the legal basis for the decision. legal position held by most on the winning side called plurality.
concuring: seperate opinion written by a supreme court justice who votes w/ the majority but disagrees on their reasoning.
dissenting: explains his/her reasons for disagreeing w/ the majority's decision.
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