Shared Flashcard Set

Details

American Heritage
test #1
57
Economics
Undergraduate 1
02/13/2011

Additional Economics Flashcards

 


 

Cards

Term
Human Predicament
Definition
THe cycle from tyranny to anarchy, to which sovereign power and its ill effects give rise.
Term
Revolution
Definition
Removing tyranny from power.
Term
tyranny
Definition
absolute power centralized in one person
Term
anarchy
Definition
no one person maintains absolute power. mass disorder caused by failure to agree on common action
Term
Plato
Definition
author of The Republic which extolled civic virtue and the necessity of arete (excellence, being the best)
Term
political legitimacy
Definition
ruling by sanction higher than stark necessity
Term
King James 1
Definition
claimed political legitimacy through a divine right of kings
Term
divine right of kings
Definition
political theory that royal lines are established by God that kings rule by divine decree.
Term
Theocracy
Definition
divinely inspired rule or rule by religion
Term
Aristocracy
Definition
rule based on distinguished or wise ancestors and heritage
Term
human nature
Definition
fundamental disposition that determines humans behavior.
Term
european enlightenment
Definition
philosophical movement that proposed individual self-interest as motivating factor in human behavior.
Term
Autocracy
Definition
People are like children and need direction from the government. More gov't and corruptible human nature
Term
Classical Republicanism
Definition
men are not corrupt, but corruptible, and can be taught correct moral values. Less gov't and essentially good.
Term
Libertariansim
Definition
Human nature is variable, but individual freedom should be the gov'ts goal. Less gov't and corruptible.
Term
Liberalsim
Definition
Gov't protects people from corrupt institutions. More gov't and essentially good
Term
Bill of Rights
Definition
First ten amendments to the constitution regarding basic protections of rights from the gov't. (freedom of speech and religion)
Term
Thomas Jefferson
Definition
3rd pres. principal author of declaration. founding father. promoted classical liberalism, republicanism, and the separation of church and state.
Term
Founder's Toolbox
Definition
structure, participation, law, leadership, moral sense, custom and tradition, founding myths.
Term
corporate community
Definition
Jamestown, motivated by self-interest.
Term
indentured servants
Definition
land-owners would pay the passage for people to come to colonies in exchange for a term of service.
Term
John Rolfe
Definition
cultivated tobacco as profitable agriculture.
Term
covenant communities
Definition
Pilgrims, mostly public virtue. based on religious or moral values.
Term
Robert Brown
Definition
demanded separation from the church of england.
Term
Puritans
Definition
religious emigrants who wanted to reform the church of england rather than sever all ties with it.
Term
John Calvin
Definition
taught that the bible was the final authority for matter of faith and that salvation came through. grace only. taught that god has already chosen those who will be saved.
Term
John Winthrop
Definition
known for sermon a model of christian charity in which he sated that the puritan colony would be a city upon a hill.
Term
The Christian Calling.
Definition
Calvin. people should pursue a calling in some sort of worldly work where they are to rise early in the morning, word, save their money, and invest it wisely. prosperity indicated god's approval.
Term
moral self-governance.
Definition
puritan ideal that all must live a righteous life largely on their own, with each man responsible for his won actions and those of his family.
Term
tabula rusa
Definition
means clean slate.
Term
city on a hill
Definition
where people did only that which was good and be an example to the world.
Term
natural liberty
Definition
men do what they please.
Term
civil liberty.
Definition
only free to do that which is good, just, and honest.
Term
John Locke.
Definition
encouraged natural rights. and wrote the second treatise of gov't
Term
second treatise of gov't
Definition
true political authority comes not form God or precedent but from the people.
Term
Whig party
Definition
England's first political party, organized in political opposition to the King.
Term
Rule of Law
Definition
John Adams. determined whether a particular law supported freedom or not. Generality (don't single people out), prospectivity (apply to future action part of publicity), publicity (laws must be known), consent (accepted by people), due process (law is upheld and enforced with consistency)
Term
natural law
Definition
reflects our innate sense of right and wrong.
Term
natural rights
Definition
rights granted by nature that gov't can't abrogate and gov't is bound to protect
Term
mercantilism.
Definition
stockpiled gold and silver for the economic power of a nation.
Term
command system.
Definition
the allocation of resources is heavily controlled by gov't instead of free market forces.
Term
Navigation Acts
Definition
all trade had to go through british or colonial merchants and be shipped in british or colonial ships with the end goal to generate large exports from england.
Term
capitalism
Definition
free market economy in which the gov't serves only to create an acceptable environment in which to make exchanges.
Term
The wealth of nations
Definition
adam smith criticized mercantilism and proposed a free market economy in which the invisible hand determined prices.
Term
market economy.
Definition
individual self-interest regulate the economy.
Term
law of supply.
Definition
price rises, supply rises. 
Term
law of demand
Definition
as price rises, buy less.
Term
role of prices.
Definition
prices determine the quantity of goods supplied
Term
role of profits
Definition
as profits increase, the more suppliers there becomes.
Term
taxation without representation
Definition
rallying cry of the colonists cause of the taxes placed on them by a parliament in which they had no representation.
Term
Tea Act
Definition
designed to give the british east india trade company a monopoly on tea in the colonies.
Term
Boston Tea Party
Definition
342. dec 16, 1773
Term
Patrick Henry
Definition
'give me liberty or give me death' pushed for a bill of rights to be added to the constitution.
Term
Continental congress
Definition
reps from the british north american colonies who met to respond to england's intolerable acts.
Term
declaration of independence
Definition
desire and intention of the american colonies to break ties with britain due to in the injustices by king george III
Term
Thomas Paine
Definition
wrote common sense (convinced colonists about the necessity to fight against britain and to become independent)
Term
George Washington
Definition
led continental army to victory over britain in the revolutionary war. 1st, 1789. Father of his Country.
Supporting users have an ad free experience!