Exam Notes PSCI 1024
Popular in Comparative Government and Politics
Popular in Political Science
This 3 page Study Guide was uploaded by Lian Joseph on Sunday May 8, 2016. The Study Guide belongs to PSCI 1024 at Virginia Polytechnic Institute and State University taught by Charles Taylor in Spring 2016. Since its upload, it has received 13 views. For similar materials see Comparative Government and Politics in Political Science at Virginia Polytechnic Institute and State University.
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Date Created: 05/08/16
1/28/16 Economics (buying, selling, investments), Justice, and Effectiveness Political systems: Economic systems: o Democracy Capitalism (ex: Singapore) o Dictatorship Socialism (ex: Sweden) Capitalism: Began in the early nineteenth century o Adam Smith Wealth of Nations o Entrepreneurs and wealth created together to create an economy o Private owners working for profit o Market system All about “Can I give you a cheaper way of giving you something”; goods and services cheaper than someone else Concerned for the needs/desires for supply and demand o Produces common good for whole society Laissez faire o Government has no interest in managing the country’s economy; “hands off”; minimal intervention by government in economy Reducing the number regulations Nightwatchman state Keeping the peace of the state Socialism o Common ownership for common welfare o Private property cause of injustice Value is produced by hard work (Marx) o From those who have to those who need Planned Economy o To produce what is needed and only what is needed Communism o Ideology that does not distinguish political and economic Economic decisions were based on political positions Capitalism: incentives for growth Socialism equality of income Winston Churchill: “Capitalism creates the unequal distributions of wealth; socialism creates the equality of poverty” Collapse of Socialism: Central planning and common ownership is not effective Search for alternative means for same goals o How do we produce Soros’ Thesis o Unless self interest is tempered by common interest, democracy is likely to break down Philosophical liberalism: Radical individualism American conservatives Communitarian values: Welfare state American libers Constitutionalism: “The only reason to limit liberty is self protection” John Stewart Mill What is Constitutional? Judicial Review o United States, Germany Sovereignty of parliament o United Kingdom Decision by the people o Switzerland Distribution of Wealth Always a political question No value neutral distributions Driven by both fairness and greed Distribution: From rich to poor From poor to rich From young to old From old to young Government’s Historic Role: National defense Domestic tranquility General Welfare Government’s Modern Role: Education; transportation and other services Social and economic wellbeing Prosperity and economic growth o Inflation and unemployment Redistribution (taxes, reform etc) Regulatory State: Sanctions o Wrong thing = penalized Rewards o Projects Extraction: Direct taxes o Sale taxes Indirect taxes Borrowing
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