social studies 30-1 chapter 4

what was Theodore Roosevelt's square deal

a deal that signifies that both labor and capital must be treated fairly

what is a command economy

a economic system where the government makes all the decisions about what is produced, how goods are produces, and what prices goods are sold for

what is Marxism

a radical form of socialism (communism)

what was the new deal

a series of projects that created employment during the great depression new deal programs gave emergency relief to the unemployed, reformed the american banking system, and tried to invigorate the economy

what is a welfare state

a state in which the economy is capitalist, but the government uses policies that directly or indirectly modify the market force in order to ensure economic stability and a basic standard of living for citizens, usually through social programs

what is Chartism

a working class movement that focused on political and social reform in Britain

what is monetary policy

actions taken by central banks to control the supply of money - raising or lowering interest rates, creating/destroying money

what is a mixed economy

an economic system based off free market principles with some government intervention, usually to regulate industry, to moderate the boom and bust nature of the free market business cycle, and offer social welfare programs. in some mixed markets the government owns some key industries

what is socialism

any ideology that believes that resources should be controlled by the public for the benefit for everyone not for the private interest of private owners

what caused the creation of the welfare state

classical liberals began to realize that they needed to consider the rights of workers and develop a social conscience

what is Keynes's economic theory known as

demand side economics

how should governments react and prevent recessions according to keynes

during times of inflation governments should raise both interest rates and taxes and reduce government spending during times of recession governments should lower taxes and interest rates while increasing government spending

what do socialists value

economic equality among citizens - providing income security through guaranteed employment and guaranteed living standards cooperation through large amounts of government involvement

who is john Maynard keynes

economic theorist, developed Keynesian economics

who is Edmund burke

identified with the development of the ideology oh classical conservatism - he preferred the beliefs and values of the pre-industrialized past

what does welfare capitalism entail

implementation of government legislation such as limited working hours, and a minimum wage, and safety nets- pensions

what is welfare capitalism

incentives by industrialists to provide workers with non-monetary rewards to offset the growing demands fir labor unions also refers to government programs that provide social safety nets to workers

what caused the development of classical conservatism

it was a reaction to classical liberalism

what was the classical liberal view of women in society

misogynistic - women were accepted in the home to take care of their kids and families

what did Robert Owen do to improve the lives of workers

opened a business in NEW LANARK - turned new lanark to a model community to demonstrate his Utopian socialist principles -created an education center that gave workers an education - Owen improved the living conditions of his workers

what did classical liberalism do for universal suffrage

proclaimed the equality of men - gave the idea that voting was a franchise right

what is grassroots movements

protests against the effects of classical liberalism and capitalism

what was the great depression

result of the stock market crash that result from the failed economic system of the free market

why did workers create unions

so they could collectively bargain for better hours and wages and threaten to go on strike if their demands were not met

who were the Luddites

textile workers who were replaces with machines who formed a protest movements in response

what were Marx's beliefs about the economy

that the economy was the foundation of the economy -the means of production has to be in the workers hands

what is feminism

the belief that men and women should be treated equal in all aspects of society

what is fiscal policy

the direct taxing and spending of the government -raising or lowering tax rates or raising/lowering spending on government projects

what do classical conservatives believe

the government represents both the will of the people and the legacy of those from the past change in a country has to honor the ppl from the past and the people of the future

what created modern liberalism

the great depression

what created the welfare state

the great depression

how did FDR use demand side economics

the implementation of the new deal

what did Karl Marx believe

the only way to overthrow capitalism was by through a class struggle between workers and business owners

what caused the formation of socialist ideologies

the reform of the political, social, and economic structures of the 19th century liberal society

what is universal suffrage

the right of all members of society, once they reach the age of accountability, to fully participate politically. the right to vote

what is Keynesian economics

theory that believes that periods of inflation lead to periods of recessions which is caused by consumer demand

what did the creation of unions do

unions threatened to undermine capitalist control of the workplace

what ideologies emerged in response to liberalism

- Luddism - Chartism - socialism - Marxism - classical conservatism - welfare states - welfare capitalism - Keynesian

who is Robert Owen

- believed that the harshness of life under laissez faire capitalism corrupted human nature - believed that education and improved working conditions could eradicate the bad aspects of capitalism

what did the Luddites do

- formed the army of redressers -they broke into factories and destroyed the machines that threatened their jobs

what are Utopian socialist

- humanitarians who advocated an end to the bad working conditions of workers in industrial capitalist countries. - people who believe its possible to bring about a better world and eradicate evil

what beliefs and values do socialists advocate for

- private ownership of the means of protection allows for exploitation - the state should direct the economy to achieve economic equality - society should be classless

what are some classical liberal beliefs

- society should be structured into a hierarchy - government should be chosen by a limited electorate - leaders should be humanitarian

what was the goals of the chartists

- universal suffrage for all men over 21 - equal sized electoral districts - elections through use of the secret ballot - annual elections - pay for members of parliament