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Details Title: Britain Description: Exam 1 Total Flash Cards: 9 Created: 03/05/2007 16:48:38	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Westminster model Definition Britain's influence through colonialism promoted a type of government based on the supreme authority of a legislature Term neoliberalism Definition a legacy from Thatcher; approach to economic management promoting free markets, free trade, welfare retrenchment, and an attractive investment climate as the end game of every state's politics) Term Keynesianism Definition state nationalizes key industries, accepts responsibility to secure low levels of unemployment, expand social services, maintain a steady rate of growth, keep prices stable, and achieved desirable balance of payments and exchange rates Term monetarism Definition popularized by Thatcher; assumed that their is a "natural rate of unemployment" determined by the labor market itself (unlike Keynesian model, which assumed the level of unemployment could be set and the economy stabilized through he decisions of the government) Term parliamentary sovereignty Definition parliament can make or overturn any law; the executive, the judiciary, and the trhone do not have any authority to restrict of rescind parliamentary action Term quangos Definition quasi-governmental bodies Term margaret thatcher Definition lead conservative party to victory in 1979; mirrors Reagan; cutback social services, privatization, tax cuts, deregulation Term Margaret Thatcher Definition lead conservative party to victory in 1979; cutback social services, privatization, tax cuts, deregulation Term Third Way Definition less gov intervention in economy, but advocates targeted cooperation; education and training; encouragement of research and development, new tech