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| mercantilism (mûr'kəntĭlĭzəm) , economic system of the major trading nations during the 16th, 17th, and 18th cent., based on the premise that national wealth and power were best served by increasing exports and collecting precious metals in return |
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| A period of decreased business activity and high unemployment: depression, slump |
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| The percentage of the total labor force that is unemployed but actively seeking employment and willing to work. |
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You can divide the Federal Reserve's duties into four general areas:
1. Conducting monetary policy
2. Regulating banking institutions and protecting the credit rights of consumers
3. Maintaining the stability of the financial system
4. Providing financial services to the U.S. government |
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| A tax that takes a larger percentage from the income of high-income people than it does from low-income people. |
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| The total financial obligations of a national government. |
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| A minimum income level below which a person is officially considered to lack adequate subsistence and to be living in poverty |
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| Social Security Benefits to Consumer Price Index |
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| national health insurance program in the United States for low-income persons; established in 1965 with passage of the Social Security Amendments and now run by the Centers for Medicare and Medicaid Services. |
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| To apply a means test to or require a means test for a governmental program |
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| hat each group be perfectly represented in each of |
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| Marshall Plan or European Recovery Program, project instituted at the Paris Economic Conference (July, 1947) to foster economic recovery in certain European countries after World War II |
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| proclaimed the United States' opinion that European powers should no longer colonize the Americas or interfere with the affairs of sovereign nations located in the Americas |
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| Bretton Woods was the site of the Bretton Woods Conference in 1944 which has given its name to the Bretton Woods system and led to the establishment of both the World Bank and the IMF in 1946. |
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| An international organization composed of most of the countries of the world. It was founded in 1945 to promote peace, security, and economic development. |
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| mutual assured destruction |
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| The restructuring of the Soviet economy and bureaucracy that began in the mid 1980s |
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| It was initiated in response to a land and water blockade of the city that had been instituted by the Soviet Union in the hope that the Allies would be forced to abandon West Berlin |
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| Multilateralism is an international relations term that refers to multiple countries working in concert. |
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| A movement for more democracy in American government in the 1830s. Led by President Andrew Jackson, this movement championed greater rights for the common man and was opposed to any signs of aristocracy in the nation |
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| The Hamiltonian way is described as emphasizing the U.S. "need to be integrated into the global economy on favorable terms." This need produced a Hamiltonian emphasis on freedom of the seas, maintaining an open door for trade and investment, and, in the nineteenth century, forging amicable relations with Britain and its empire. |
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| North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAFTA immediately lifted tariffs on the majority of goods produced by the signatory nations |
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| he Council's five veto-wielding permanent members |
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| An agreement on global warming reached by the United Nations Conference on Climate Change in Kyoto, Japan, in 1997 |
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Overwhelming force, clear exit strategy, and respect
for enemy etc. |
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| An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. |
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| stagflation, in economics, a word coined in the 1970s to describe a combination of a stagnant economy and severe inflation |
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| A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services. |
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| The actions of a central bank, currency board, or other regulatory committee, that determine the size and rate of growth of the money supply, which in turn affects interest rates. |
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| Government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates, and government spending, in an effort to control the economy. |
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| A tax that takes a larger percentage from the income of low-income people than the income of high-income people. |
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| debt, public, indebtedness of a central government expressed in money terms, often referred to as national debt. The debt is computed differently by nearly every nation. Some authorities exclude all government obligations other than those incurred by public borrowing from individuals. |
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| The ability of individuals or groups to move upward or downward in status based on wealth, occupation, education, or some other social variable. |
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| These are benefits, excluding salaries, given to employees which include cars and car fuel, medical insurance and gifts etc. and which are taxed as employment income. |
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| Any arrangement for health care in which an organization, such as an HMO, another type of doctor-hospital network, or an insurance company, acts an intermediate between the person seeking care and the physician. |
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| often Social Security (Abbr. SS) A government program that provides economic assistance to persons faced with unemployment, disability, or agedness, financed by assessment of employers and employees. |
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| Change or alteration of laws imposing civil liability for torts esp. to limit liability for punitive damages |
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| The treaty, one of the major Western countermeasures against the threat of aggression by the Soviet Union during the cold war, was aimed at safeguarding the freedom of the North Atlantic community. Considering an armed attack on any member an attack against all, the treaty provided for collective self-defense in accordance with Article 51 of the United Nations Charter. The treaty was also designed to encourage political, economic, and social cooperation. The organization was reorganized and centralized in 1952. |
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| # often Iron Curtain The military, political, and ideological barrier established between the Soviet bloc and western Europe from 1945 to 1990. |
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| A national policy of abstaining from political or economic relations with other countries. |
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| International Bank for Reconstruction and Development (IBRD), specialized agency of the United Nations, with headquarters at Washington, D.C.; also called the World Bank. Plans were laid at the Bretton Woods Conference (1944) for the formation of a world bank; it was formally organized in 1945, when 28 countries ratified the agreement; there are now 184 members |
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| a A world organization established in 1920 to promote international cooperation and peace. It was first proposed in 1918 by President Woodrow Wilson, although the United States never joined the League. Essentially powerless, it was officially dissolved in 1946. |
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| A policy toward a rival nation or bloc characterized by increased diplomatic, commercial, and cultural contact and a desire to reduce tensions, as through negotiation or talks. |
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| An official policy of the former Soviet government emphasizing candor with regard to discussion of social problems and shortcomings. |
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| “Given the goals of rogue states and terrorists, the United States can no longer solely rely on a reactive posture as we have in the past. The inability to deter a potential attacker, the immediacy of today’s threats, and the magnitude of potential harm that could be caused by our adversaries’ choice of weapons, do not permit that option. We cannot let our enemies strike first.” |
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| A tendency of nations to conduct their foreign affairs individualistically, characterized by minimal consultation and involvement with other nations, even their allies. |
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| Absence of discrimination, as in the workplace, based on race, color, age, gender, national origin, religion, or mental or physical disability: “The issue of equal opportunity . . . posed particular problems” |
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seeks the advancement of democracy and international law
through multilateral institutions. |
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1. An authoritative legal doctrine, principle, or precept applied to the facts of an appropriate case (adopting the rule of law that is most persuasive in light of precedent, reason and policy - Wright v. Wright, 904 P.2d 403 (1995))
2. Government by law Adherence to due process of law |
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| The advocacy, system, or theory of protecting domestic producers by impeding or limiting, as by tariffs or quotas, the importation of foreign goods and services. |
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| Measures taken by a state or an alliance of states to prevent hostile action by another state. |
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| The condition that exists when the value of what a country imports exceeds the value of what it exports; also called an unfavorable balance of trade. |
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| socialism, general term for the political and economic theory that advocates a system of collective or government ownership and management of the means of production and distribution of goods. Because of the collective nature of socialism, it is to be contrasted to the doctrine of the sanctity of private property that characterizes capitalism. |
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| The total market value of all the goods and services produced within the borders of a nation during a specified period. |
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| Classical Economics refers to work done by a group of economists in the 18th and 19th centuries. They developed theories about the way markets and market economies work. The study was primarily concerned with the dynamics of economic growth. It stressed economic freedom and promoted ideas such as laissez-faire and free competition. |
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| A supporter of Keynesian economics believes it is the government's job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation. |
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| economic theory that concentrates on influencing the supply of labor and goods as a path to economic health, rather than approaching the issue through such macroeconomic concerns as gross national product. |
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| An economist who holds the strong belief that the economy's performance is determined almost entirely by changes in the money supply. |
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| The spending of public funds obtained by borrowing rather than by taxation. |
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| An insurance program carried out or mandated by a government to provide economic assistance to the unemployed, the elderly, or the disabled. |
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| An index of prices used to measure the change in the cost of basic goods and services in comparison with a fixed base period. Also called cost-of-living index. |
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| A program under the U.S. Social Security Administration that reimburses hospitals and physicians for medical care provided to qualifying people over 65 years old. |
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| Supplemental Security Income |
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| Supplemental Security Income is a monthly stipend provided to some citizens by the United States federal government. Individuals who prove to the Social Security Administration that they cannot work and have no other income, such as permanently disabled individuals and long-term cancer patients, may qualify for SSI. |
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| Temporary Assistance to Needy Families |
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| The purpose of the program is to provide financial and medical assistance to needy dependent children and the parents or relatives with whom they are living. |
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| emedy that prevents or slows the course of an illness or diseas |
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| This pronouncement and its uses expanded the nation's role in checking the spread of communism in the postwar era |
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| Washington's Farewell Address |
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| The final address by George Washington to his fellow citizens as he was leaving the presidency. He wrote the address in 1796 but never delivered it. Washington discussed the dangers of divisive party politics and warned strongly against permanent alliances between the United States and other countries. |
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| Roosevelt was determined to make the U.S. the dominant power in the Western Hemisphere. This doctrine was a frank statement that the U.S. was willing to seek leverage over Latin American governments by acting as an international police power in the region. Described as a policy of speaking softly but carrying a big stick, the Roosevelt announcement launched an era of the "big stick." |
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| International Monetary Fund |
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| International Monetary Fund (IMF), specialized agency of the United Nations, established in 1945. It was planned at the Bretton Woods Conference (1944), and its headquarters are in Washington, D.C. There is close collaboration between it and the International Bank for Reconstruction and Development |
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| World Trade Organization (WTO), international organization established in 1995 as a result of the final round of the General Agreement on Tariffs and Trade (GATT) negotiations, called the Uruguay Round. The WTO is responsible for monitoring national trading policies, handling trade disputes, and enforcing the GATT agreements, which are designed to reduce tariffs and other barriers to international trade and to eliminate discriminatory treatment in international commerce. |
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| General Agreement on Tarrifs and Trade |
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| Its stated mission was to reduce barriers to trade and prevent competitive trade policies from hampering the global economy. Member nations had negotiated seven rounds of tariff reductions by 1994 when the GATT was replaced by the more structured World Trade Organization (WTO) |
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| it is regarded as the moment when the Cold War was closest to turning into a nuclear war, which could have resulted in World War III. |
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| the term is almost always used to denote a particularly authoritarian kind of representative democracy, in which the leaders and lawmakers are elected by the people, but tend to be corrupt and often do not respect the law |
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| Collective Security is a system aspiring to the maintenance of peace, in which participants agree that any "breach of the peace is to be declared to be of concern to all the participating states, |
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| Three Balances of Globalization |
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The first is the traditional balance of power between nation-states
The second important power balance in the globalization system is between nation-states and global markets
The third balance that you have to pay attention to -- the one that is really the newest of all and the most relevant to the events of 9/11 -- is the balance between individuals and nation-states |
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| * effersonians -- They are idealists, the most emotional of the four types, who believe in a moralistic approach to foreign policy. They believe that there are always better alternatives than war. The Jeffersonians are staunch opponents of the Iraq war, and many of them were none too keen on the war in Afghanistan. |
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| In effect, having MFN status means that one's nation will not be treated worse than anyone else's nation. |
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| United Nations Security Council |
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| The permanent peacekeeping organ of the United Nations, composed of five permanent members (China, France, Russia, the United Kingdom, and the United States) and ten elected members. |
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| international criminal court |
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| The International Criminal Court (ICC) was established in 2002 as a permanent tribunal to prosecute individuals for genocide, crimes against humanity, and war crimes, as defined by several international agreements, most prominently the Rome Statute of the International Criminal Court. |
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| Caleb Carr's Terrorism Theory |
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...simply the contemporary name given to, and the modern permutation of, warfare deliberately waged against civilians
with the purpose of destroying their will to support either leaders or policies that the agents of such violence find objectionable.
Warfare against civilians, whether inspired by hatred, revenge, greed, or political and psychological insecurity, has been one
of the most ultimately self-defeating tactics in all of military history--indeed, it would be difficult to think of one more inimical
to its various practitioners' causes....[T]he nation or faction that resorts to warfare against civilians most quickly, most often,
and most viciously is the nation or faction most likely to see its interests frustrated and, in many cases, its existence terminated. |
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