ADMS 1010 Study Guide - Midterm Guide: John Maynard Keynes, International Trade, Dependency Theory
14 Oct 2012
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Feudal era: business dominated by aristocracy and the church, mainly agrarian. Mercantile era: is the economic doctrine that says government control of foreign trade is of paramount importance for ensuring the prosperity and security of a state. Industrial era: business dominated by vested interests capitalism & nationalism. Technological era: business dominated by multinational corporations with greater demand for free trade. Outsourcing was very popular to decrease input costs. Socialism: an ideology based on the ownership of the means of production and distribution by the workers. Democratic socialism: accepts elements of capitalism, however, desires that government play an interventionist role in the management of the economy and markets. Classical conservatism: believes in a strong government; the top has no responsibility to the bottom. Neo-conservatism: governments should not be spending money on social security, no minimum wage, healthcare. Liberalism: liberals emphasize free private enterprise, individual property rights, laissez-faire economic policy. Neo-liberalism: concerned into the development of the free-market.
