Economic+and+Political+Spectrums

Economic and Political Spectrum

Check out this interactive website: Shows both economic and political spectrums! http://www.learnalberta.ca/content/sspes/index.html?launch=true

Econonomic and Political Names to Know!

John Locke : "social contract" idea, kind of like Hobbes. He believes in the separation of powers. He believed that revolution was a right and obligation of the people. He had a huge influence on other constitutions that would come to be made (like the US one).

Thomas Hobbes : He pioneered the "social contract." A country needs a strong, central authority (the sovereign). He doesn't believe in the separation of powers. Society is below the authority and should take whatever it does in stride, as it's needed "for peace."

Baron de Montesquieu : Three systems of government (and what they rely on): Monarchies (honor), Republics (virtue), despotism (fear). Supported primogeniture (stuff goes to the first-born son) and hereditary aristocracy. He helped get rid of the feudal system in France, by reorganizing the class system from the Three Estates into three classes: Monarchy, Aristocracy and the Commons. It was intended that no class group would ever be stronger than the collective power of two groups.

Adam Smith : Not to be confused with Laissiez-Faire capitalism. What he brought up: Free Market, Division of Labour (kinda), and the "Invisible Hand."

John Stuart Mill : Helped come up with the notion of Utilitarianism. It's about making the largest amount of people happy.

John Maynard Keynes : Believed in Economic Interventionism, which is having a government step in and get stuff done right with the economy, particularly in times of strife. He also pioneered Keynesian Economics, which is that the state can help improve the private sector's success by working with taxation, interest rates and public projects (kind of like the Interventionist idea).

Milton Friedman : Free market man. Predicted "stagflation." He believed in volunteer army, floating exchange rates, negative income tax and education vouchers. He studied money a lot.

laissiez-faire capitalism : "Let it be." Economic freedom. They don't like any state intervention with the economy.

industrialization : To develop industry. Think of the Stalinist plan and China's plan when you think of industrialization in socialism (communism) and Britain/US industry when considering the Western, free-market approach.

Political Spectrum of nations around the world: http://clipmarks.com/clipmark/54A3DF8B-3FFE-491B-9A6F-AA29C68CCE70/

Although Not 100% accurate it does give accurate definitions of styles of government: media type="youtube" key="ODJfwa9XKZQ" height="344" width="425"