Economics and Politics - Definitions
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| Upper socail class of noble rank,title or birth, tradionally land owners usally indentified with feudal system | Aristocracy
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| Self governing and independant country | Autonomous
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| According to Marx in the middle class, the owners of the means of production who exploited the working class | Bourgeisie
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| An organization characterized by centralized authority with clearly stated procedures for carrying out its tasks | Bureucracy
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| Adivisors to the leader who also head up government departments | Cabinet
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| Money, Man made objects,machinery | Capital
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| Producers that make the same product who are involved in planning market stategy | Cartel
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| An economic system in which major desicions about production and distrubution are made by planners | Central Planning
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| A government in which two or more political parties join together to govern | Coalition Government
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| Philosopy of acting together for a common group good rather than individuals | Collectivism
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| Economic system in which all desicions are made at the top | Command Economy
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| AN 1848 declaration outlinedby Marx and Engels in which they called for the overthrow of capitalism. | Communist Manifesto
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| A general opinion or principal that our representatives must gain our acceptance before they can act. | Consensus
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| Person who favours keeping things as they are, opposed to change exept for slow, cautious reforms. | Conserative
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| Decisions are made by many different groups and individuals | Decentralization
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| A period when business activity slow down, During this time there is unemplyment and falling prices and incomes | Depression
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| System of government in which the power is with the elite and the rights of the citizens is not guaranteed | Dictatorship
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| Citizens make all their own decisions by voting on all issues instead of allowing a representative to do this for them. | Direct Democracy
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| To disagree with the majority or with government actions | Dissent
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| Goal was to nationalize large businesses and redistrabute income in Great Britain | Fabian Movement
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| Political system which empasizes nationalism, militarism, anti-communist and totalitarian rule. Individuals are allowed to retain ownership of capital goods but are subject to centralized control | Fascism
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| Polictical system that power is divided among central and regional governments | Federalism
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| Right to vote in public election | Franchise
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| Private ownership of property and freedom of individuals to buy and sell. Little government involvement | Free Enterprise
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| German terms for leader (Hitler) | Fuhrer
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| Secret police of NAzi regime associated with terror and force | Gestapo
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| An open and frank approach introduced by Mikhail Gorbachev to solve USSR problems | Glasnost
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| Planning for USSR distribution | Gossnab
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| USSR planning for economy and political goals of the Comunist party | Gosplan
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| Process in the USA Congress to remove member of office who have broken the law | Impeachment
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| Groups that try to influence the government for a certain position | Interest Groups
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| Adam's Smith theory to prove there was no need for production because the profit motive would result in producer making what the consumer wanted at an acceptable price. | Invisible Hand
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| An Absence of government action, especially in the realm of industry where trade well flurish best when there is a minimum amout of interference by the state in economic affairs | Laissez - Faire
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| Attracted by ideals of Socailism and collectivism and economic and political equality | Left - Wing
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| Policies favouring reform and progress espically in government and economics | Liberal
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| Bringing pressure on the government to do something for the benefit of a particular interest | Lobby
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| An ideology in which class conflict is considered the main force of socail change | Marxism
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| A capitalist economy in which private enterprise and competitive markets have been altered by governement intervention and monopoly. | Mixed economy
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| process of turning a privatly owned industry into a publicly owned company | Nationalization
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| Roosevelt's policy to involve the government in the economy for recovery from the depression in 1929 | New Deal
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| Rule by few influential members | Oligarchy
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| Restructuring of the political and economic institutions of the Soviet Union under Mikhail Gorbachev | Perestrokia
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| Political-economic system that stresses varying degrees of government ownerships and redistribution of income | Socailism
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| Maintain things as they are. | Status Quo
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