Political Economy US Government Defined
1. Republic:
individual is
sovereign,
has the power.
Republic government:
constitutionally determined elected leaders operating according
to a constitution.
2.
Federalism:
power is shared among units,
each of which has some final authority,
which means some have areas of self-government.
3. Democracy:
distributes power to the sovereign, the majority'
Democratic government:
a constitutionally determined electorate,
each with an equal say
in determining majority will, which is absolute and unlimited.
4. Courts:
established by a constitution
to
while protecting constitutional rights.
5. Capitalism
centers on profit,
characteristics are
Private Property, Enterprise based on Freedom and Competition,
Freedom of Consumer Choice, Limited Government, and Creative
Destruction-
enhances growth with technology and improved economic structures,
which replace inefficient structures.
Relates Sites
US Federalism
Thanks
Walter