Political Spectrum Quiz

• British economist that saw the effects of the population explosion (crowded slums, hungry families, unemployment, and widespread misery).

• Published An Essay on the Principle of Population*.*

• He concluded that poverty was unavoidable due to the population increasing faster than food supply.

• “The power of population is greater than the power of the Earth to produce subsistence for man.”

• Main proponent of Laissez-faire economics was Adam Smith, Author of The Wealth of Nations (published 1776).

• He believed that a free market (the unregulated exchange of goods and services) would help everyone not just the rich.

• The free Market would produce more goods at lower prices, making them affordable to everyone.

• A growing economy would also encourage capitalists to reinvest profits in new ventures.

• Influential British laissez-faire economist.

• Dedicated himself to economic studies after reading The Wealth of Nations**.**

• Did not hold out any hope for the working class to escape poverty.

• Due to such gloomy predictions economics became known as the “dismal science.”

• “Iron Law of Wages” - Pointed out that wage increases were futile because increases would only cover the cost of necessities.

• British philosopher and economist

• Advocated for the belief utilitarianism, which is the idea that the goal of society should be to produce “the greatest happiness for the greatest number” of its citizens.

• All laws or actions should be judged by utility.

  • Utility - Did they provide more pleasure or happiness than pain?

• He also supported individual freedom; he believed guaranteed happiness.

• Saw need for government to become more involved under certain circumstances.

• German philosopher in 19th century.

• Against capitalism

• Developed ideology and socioeconomic theory of Marxism (communism)

• Believed society is characterized by the struggle between workers (which he called proletariats) and those in charge (capitalists/bourgeoise)

• Marx and Friedrich Engels wrote a pamphlet, The Communist Manifesto, published in 1848.

• Influenced by the philosopher Jeremy Bentham.

• Believed in individual freedom.

• Wanted government to step in to improve the hard lives of working class.

• “The only purpose for which power can be rightfully exercised over any number of a civilized community, against his will, is to prevent harm to others.”

• He believed that the government should prevent factory owners from increasing their own happiness at the expense of their workers happiness/well-being.

• Many democratic governments today have absorbed his ideas.

• British social reformer

• Set up a cotton mill in Scotland as a model village. Insisted that the conditions which people lived shaped character. In the village he reduced working hours, built homes, started school for children, opened a company store where workers could buy food/clothes.

• Showed that employers could offer decent living and working conditions & still have a profitable business.

• Political/economic theory advocating collective ownership of the means of production, distribution, and exchange of goods and services.

• People/state as a whole rather than private individuals own/operate means of production. Those means of production being farms, factories, railways, and other large businesses that produced and distributed goods.

• Involves strong role for the government in economy, including provision of social services like healthcare and education.

• Often contrasted with capitalism, which emphasizes individual ownership and the pursuit of profit.

• Many countries communist countries today are actually not communist but socialist even though they are considered to be communist.

Political ideology in which there is a gradual transition from capitalism to socialism instead of a sudden violent overthrow of the system.

• Political system which power is held by the people, either directly or through elected representatives.

• Values individual rights and freedoms, such as freedom of speech, assembly, and the press.

• Citizens can directly participate in government through voting.

• Emerged in ancient Greece.

• Example of such is the U.S.

• Values individual rights/freedoms, also emphasizes responsibilities of citizens to participate in political process and work towards the betterment of society.

• Public officials represent the people.

• Power is held by the people, either directly or through elected representatives, and the government is accountable to the people.

• Example of this is the U.S.

• Fascism is a far-right political ideology that is characterized by authoritarianism, nationalism, and the belief in the superiority of one's own race or nation.

• Usually led by a dictator.

• Nazi Germany, Fascist Italy, and Francoist Spain.

• Anti-communist

• Nazism is a form of fascism that is associated with the ideology and policies of Nazi Germany, which was led by Adolf Hitler.

• Nazism is characterized by extreme nationalism, racism, and anti-Semitism, and the belief in the superiority of the Aryan race.

• Nazism also emphasizes the importance of a strong and centralized government led by a single leader, who is often referred to as the "Führer".

• Single ruler, usually called a monarch, holds supreme power and authority over the state.

• Power is usually inherited, and the monarch's family forms a dynasty that rules over the country for a period of time.

• Concept is very ancient and biblical.

• Anarchy is considered to be very radical to monarchists.

• Under absolute monarchy, the monarch has unlimited power and authority, while under constitutional monarchy, the monarch's power is limited by a constitution or a set of laws.

• Example of such is Russia.

• Economic system which private individuals or businesses own/control the means of production, distribution, and exchange of goods and services (emphasises minimal government intervention).

• Goal of capitalism is to generate profit and increase economic growth through competition and market forces.

• Capitalism values individualism, personal initiative, and entrepreneurship, and emphasizes importance of free markets and private property.

• Prices determined by supply and demand, and individuals are free to make economic decisions based on their own self-interest.

• NO GOVERNMENT

• Political/economic ideology that seeks to establish a classless society where resources/ wealth is owned and controlled by community as a whole, opposed to individuals or corporations.

• There is no private property and means of production are not controlled collectively by government.

• Advocates for social/economic equality, also creation of a society in which all individuals have equal access to basic necessities such as food, housing, healthcare, and education.

• Soviet Union, China, Cuba, and North Korea.

• Advocates for abolition of all forms of government.

• Many view communism and anarchy as one in the same.

• Also, could be considered a utopia, example of such was the Free Territory in Ukraine from 1918-1921.

An economic theory that advocates for minimal to no government intervention in the market also advocates for a HANDS-OFF GOVERNMENT. It suggests that the market will regulate itself through supply and demand, and that government interference can lead to inefficiencies.

• Opposed any government help for the poor.

• Believed that the best cure for poverty was not government relief but the unrestricted “laws of the free market.”

• Felt that individuals should be left to improve their situation through thrift, hard work, and limiting size of families.

• Predicted a struggle between social classes that would lead to a classes society where all means of production would be owned by the community.

• Theorized that economics was the driving force in history.

• Argued that there was the “history of class struggles” between the “haves” and the “have-nots.”

• “Haves” owned the means of production and controlled society --- all its wealth.

• In Industrialized Europe the “Haves” were the bourgeoisie & the have nots were the proletariat/working class.

• Predicted the proletariat would triumph. Workers would take control of means of production - setting up a classless society also known as a communistic government.

Socialism - Socialists believed that the market-based approach of laissez-faire capitalism was fundamentally flawed. Argued that the government should play a greater role in the economy, through public ownership of certain industries, regulation of business practices, and progressive taxation.

Utilitarianism - Utilitarianism challenged the laissez-faire approach of allowing the market to determine economic outcomes, arguing that the government had a role to play in promoting the greatest good for the greatest number of people, which is the Utility, the basis of Utilitarianism.

Mill's view on the proper role of government emphasized individual freedom and autonomy while also recognizing the importance of government intervention in certain areas to promote social welfare and prevent harm.

They believed that people as a whole rather than private individuals should own and operate the means of production --- the farms, factories, railways, and other large businesses that produced and distributed goods.

Marx believed that the future of the proletariat was a revolution against capitalism and the establishment of a socialist society in which the working class would have greater control over their lives and the economy. They would also set up classes societies.

His argument was proven to be flawed. He said that workers would unite across national borders to wage class warfare. Instead, nationalism won over working-class loyalty. People felt stronger ties to their own countries than the international communist movement. Later on, few nations remained with communist governments, while nearly every other economy included elements of free market capitalism.

Capitalism, created by Adam Smith is a system of economy greatly despised by Karl Marx. Karl Marx believed that Capitalism would never succeed in society and eventually a revolution would occur causing a short period of socialism. Socialism is required to have communism. It is also before communism in terms of the stages of the revolution.

The belief that no one producer or consumer is a large enough part of the market to have any major impact on the market.

Prices, quantity, and quality of goods.

The invisible hand refers to the idea that the actions of individuals pursuing their own self-interest in a free-market economy can lead to unintended benefits for society as a whole.

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