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Theories (economics) - Coggle Diagram
Theories (economics)
Authoritarianism
Central Beliefs:
One person who has almost or complete control over its citizens.
More concerned with laws than freedom
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Desert island society: A leader would be appointed and everyone would take orders from that person and there is no freedom of choice and you cannot speak against this
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Redistribution: Authoritarians distribute more than democracy as everything in an authoritarian nation is state owned giving people little freedom to control these themselves
Government Interference:
Authoritarians interfere with with their people as they want them to obey the law and taking away as much freedom as possible
Criticisms of the theory:
It is often prejudiced to ethnic minorities and LGBT communities.
There is no freedom at all
Libertarianism
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Why hold these beliefs:
So everyone has a voice and can express themselves
So people can maintain freedom and individuality
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Desert Island society: Everyone could have as say and contribute ideas and get a say in how the could help
Tax: They are opposedto force people to pay tax because they believe it is the individuals money and they should have the freedom to spend as the wish
Redistribution: A liberal government are unlikely to redistribute public funds as they think it violates peoples property and goes against their freedom
Interference:
Government will not interfere with people in the economy but as long as they are not breaking the law then they are fine
Criticisms: Less funding as tax is optional so any government institutions wouldn't survive everything would have to private
Also freedom is soemthing that would be abused and not control over citizens by the government means that justice would be flawed.
Utilitarianism
Central Beliefs: Morally right or wrong
Any decisions should maximise good or happiness and restrict pain and suffering
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Desert island society: The greater good for the greatest amount of people. However the ones that are left unhappy are often pushed to the side as they are not in the majority.
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Redistribution:
Increase the happiness of the poor but in a limited capacity so it does not make the rich feel angry or unhappy
Government interference: Broken laws and promotion of other ideologies. But will always favour the majority in terms of decisions made.
Criticisms: Big limitations as it is unclear what is good or bad as anyone in the majority gets a say and others just get pushed away. It has hard time accounting for individual human rights
Egalitarianism
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Why Hold these beliefs:
To reduce bias and discrimination
If everyone believed they were equal it would better drive them to cooperate
Big names: John Rawls American philosopher
Karl Marx founder of marxist ideoogy used by the soviet union
Desert island society
They believe everyone should be equal so oppurtunities and resources amongst others would be strictly the same.
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Redistribution: welfare is key in egalitarianism as they believe everyone should be equal and be redistributing it gives people a chance hence it is considered a form of social justice
Government interference: Should try and remove all inequality from society and need to provide the same rights for everyone
criticisms: A lack of leadership or central power in a nation aren't dealt with and any form of government really infringes on egalitarianism as how can you have equality when there are people deemed higher up than you