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Political Economy
Midterm
8
Economics
Undergraduate 4
03/08/2012

Additional Economics Flashcards

 


 

Cards

Term
Fraternity under compulsion
Definition
Kolakowski said a forced brotherhood in socialism, institutional means of making people brothers is malignant and evil. Perfect path to totalitarian regime or tyranny. Takes the positivity of brotherhood and cooperatives, which comes through an act of the will, and taints it by forcing and mandating such actions. 
Term
Cash Nexus
Definition
From Marx, Feudal/patriarchal social relations or the reduction of all human relationships to cash related reasons and decisions but especially relations of production & monetary exchange under capitalism
Term
Law of unintended rewards
Definition
Charles Murray in Constraints on Helping says any social transfer increases the value of being in the condition that prompted the transfer
Term
Political Economy 
Definition
household + management. The art of promoting citizens welfare (Smith). The study of alternative basic political-economic institutions
Term
Liberalism
Definition

John Locke says liberalism was the idea of economic freedom through "life, liberty, and property" and protecting individuals from the state. 

Progressive def - while still stressing protection of the individuals, they incorporate gov't regulations to protect the people in an attempt to help the poor, opposing monopolies, but still clinging to free markets and opposing trade regulations (Kolakowski)

Term
Conservatism
Definition
Trust tradition and are skeptical about change bringing progress. They are against social engine erring or rational reordering of society. (Kolakowski)
Term
Socialism
Definition
classically delineated by Karl Marx, is in the best interest of the proletariat to allow the state to control, plan, and run the means of production using central planning
Term
Felicific Calculus
Definition
arithmetic of happiness in the economics of welfare (Jouvenel)
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