Political Science 182 Final Review
"political science 182 final review"
Week 5
General Motivating Questions
1. What are the four primary economic ideal-types? How do these ideal-types present themselves in the “real world”? a) Feudalism - unequal and inefficient. Elites owned land, control the lives of the serfs who worked it. System of protection. Worker of the land were not able to move up in this system (mid-1500’s) b) Mercantilism - unequal and inefficient. State directs economy for own interest. Trade gives a state security; a nation/state needed to expand their empires → Colonization to Monopolized trade. Colonies could not trade on their own. c) Economic Liberalism(Capitalism) - efficient but unequal. Individuals direct economic activities. Everything is in the market, everyone must be competitive. d) Marxism - inefficient but equal. Gov’t directs economy for the benefit of populous with a goal of economic equality
2. Which form of government best fosters economic growth? Does democracy help or hinder economic growth? Why are authoritarian regimes thought to induce economic growth? What are the dangers of following the modernization theory? a) Could say that both governments foster economic growth though, b) Both grow at the same rate, but for diff reasons: Rich dictatorships repress labor/grow through capital investment. Rich democracies pay labor more/grow through innovation. c) Authoritarian regimes are thought to induce economic growth because the leader of the state focuses more on economics and less on being re-elected. d) Democracy helps economic growth because the leaders allow free team picking, which promotes innovation which has a correlation to economic growth, but the leaders tend to focus on re-elections
*Demo - Encourages investment by fostering property rights.
Encourages efficient allocation of resources through free flow of ideas/information.
Leads to endogenous growth (which is important for rich countries) by fostering the
Week 5
General Motivating Questions
1. What are the four primary economic ideal-types? How do these ideal-types present themselves in the “real world”? a) Feudalism - unequal and inefficient. Elites owned land, control the lives of the serfs who worked it. System of protection. Worker of the land were not able to move up in this system (mid-1500’s) b) Mercantilism - unequal and inefficient. State directs economy for own interest. Trade gives a state security; a nation/state needed to expand their empires → Colonization to Monopolized trade. Colonies could not trade on their own. c) Economic Liberalism(Capitalism) - efficient but unequal. Individuals direct economic activities. Everything is in the market, everyone must be competitive. d) Marxism - inefficient but equal. Gov’t directs economy for the benefit of populous with a goal of economic equality
2. Which form of government best fosters economic growth? Does democracy help or hinder economic growth? Why are authoritarian regimes thought to induce economic growth? What are the dangers of following the modernization theory? a) Could say that both governments foster economic growth though, b) Both grow at the same rate, but for diff reasons: Rich dictatorships repress labor/grow through capital investment. Rich democracies pay labor more/grow through innovation. c) Authoritarian regimes are thought to induce economic growth because the leader of the state focuses more on economics and less on being re-elected. d) Democracy helps economic growth because the leaders allow free team picking, which promotes innovation which has a correlation to economic growth, but the leaders tend to focus on re-elections
*Demo - Encourages investment by fostering property rights.
Encourages efficient allocation of resources through free flow of ideas/information.
Leads to endogenous growth (which is important for rich countries) by fostering the