Politics & the Economy
by Mike Pettibone
Economy
Unemployment
Structural
Arises because the skills demanded by employers do not match the skills of the uneployed or because the unemployed do not live where jobs are located.
Seasonal
Results in shifts from demans for workers based on conditions such as the weather (agriculture, construction, and tourism) or seasons (holidays or summer vacation).
Cyclical
Occurs as a result of lower rates of production during recessions in the business cycle
Capitalism
Corporations- organizations that have legal powers, such as the abilioty to enter into contracts and buy and sell property, separate from their individual owners.
An economic system characterized by private ownership of the means of production, from which personal profits can be derived through market competition and without government intervention.
Politics
Political Systems
Democracy- a political system in which the people hold the ruling power either directly or through elected representatives
Totalitarianism- a political system in which the state seeks to regulate all aspects of people's public and private lives
Examples Include: China, Cuba, Vietnam
Authoritarianism- a political system controlled by rulers who deny popular participation in government.
Examples include: North Korea, Iran, Saudi Arabia
Monarchy- a political system in which power resides in one person or family and is passed from generation to generation through lines of inheritance
Examples include: Austrailia, Belgium, Canada
Power
Subtopic
Power is a social relationship that involves both leaders and followers. Persons in positions of power control valuable resources for their society.
Ability of persons or groups to achieve their goals despite opposition from others
