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Questions and Answers

What is one of the salient features of globalization?

  • Restriction of labor mobility
  • Liberalization of the import-export system (correct)
  • Higher tariffs on international trade
  • Increased government ownership of production

Which characteristic is NOT associated with globalization?

  • Technological integration
  • Technological regression (correct)
  • Cross-border trade
  • Cultural exchange

Which of the following accurately describes the Millenials?

  • Born between the early 1950s and late 1960s
  • Optimistic and tech-savvy, born between the early 1980s and 1990s (correct)
  • Primarily focused on traditional values
  • Less inclined to engage with social media

What is a key reason for the increased interconnectedness in globalization?

<p>Improvements in transportation (A)</p> Signup and view all the answers

What do Fillenials notably advocate for?

<p>Mental health awareness (C)</p> Signup and view all the answers

What is racial egalitarianism primarily concerned with?

<p>The elimination of racial segregation in society. (A)</p> Signup and view all the answers

Which of the following best describes opportunity egalitarianism?

<p>It seeks to achieve equality through resource redistribution at adulthood. (D)</p> Signup and view all the answers

Which principle is NOT part of a sound tax system?

<p>Government intervention (D)</p> Signup and view all the answers

What does the term 'distributive justice' refer to?

<p>The distribution of benefits and burdens in society. (D)</p> Signup and view all the answers

What is a defining characteristic of capitalism?

<p>A two-class system consisting of capitalists and workers (D)</p> Signup and view all the answers

What motivates companies within a capitalist system?

<p>Profit motive (A)</p> Signup and view all the answers

Which type of justice is concerned with the fairness of the punishments given?

<p>Retributive Justice (C)</p> Signup and view all the answers

Which of the following is a principle that supports globalization?

<p>Integration among nations through trade and investment (A)</p> Signup and view all the answers

What is the main concern of procedural fairness?

<p>The process by which decisions are made. (C)</p> Signup and view all the answers

Which type of egalitarianism pertains to equal treatment under the law?

<p>Legal Egalitarianism (A)</p> Signup and view all the answers

Christian egalitarianism emphasizes which of the following?

<p>Gender equality in church leadership (B)</p> Signup and view all the answers

Which aspect is directly tied to minimal government intervention in capitalism?

<p>Freedom for markets to operate without restrictions (C)</p> Signup and view all the answers

What does moral egalitarianism emphasize?

<p>Equal respect for all individuals. (D)</p> Signup and view all the answers

Which of the following best defines compensatory justice?

<p>Fair compensation for injuries caused by others. (B)</p> Signup and view all the answers

What does political egalitarianism strive for?

<p>Equal influence and power in political matters. (C)</p> Signup and view all the answers

Luck egalitarianism primarily addresses which aspect of justice?

<p>The allocation of resources and goods based on circumstances. (A)</p> Signup and view all the answers

Flashcards

Justice

Overriding principles that guide how we give each person what they deserve.

Fairness

Principles applied to specific situations, ensuring actions, processes, and consequences are morally right and equitable.

Substantive Fairness

Focuses on whether a decision is fair and reasonable, considering the outcome itself.

Procedural Fairness

Concerned with the decision-making process rather than the outcome.

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Distributive Justice

Ensuring fair and just distribution of benefits and burdens in society.

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Retributive Justice

Ensuring punishments are fair and just.

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Compensatory Justice

Ensuring fair compensation for injuries inflicted by others.

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Egalitarianism

A philosophical perspective emphasizing equal standing and treatment of all individuals.

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Globalization

Increased interconnectedness of the world through trade, technology, and culture, leading to a more integrated global economy.

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Liberalization in Globalization

Freedom for entrepreneurs to start businesses within their own countries or internationally, leading to increased economic opportunities.

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Free Trade in Globalization

Open trade relations between nations, allowing goods and services to flow freely across borders, fostering economic growth.

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Millennials

Generation born between the early 1980s and 1990s, often associated with social media, technology, and sustainability concerns.

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Fillenials

The first true digital natives, often associated with mental health awareness and embracing technology seamlessly.

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Racial Egalitarianism

The belief that all races are equal and should have the same rights and opportunities. This means eliminating racial segregation, both legally mandated and socially enforced.

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Opportunity Egalitarianism

The idea that equality can be achieved through the distribution of resources, especially capital grants given to young adults.

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Capitalism

An economic system where individuals and private companies own the means of production and distribution. It's driven by competition, profit motive, and minimal government intervention.

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Two-Class System

A key characteristic of historical capitalism: a division between capitalists who own the means of production and workers who sell their labor for wages.

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Profit Motive

The primary goal of companies in a capitalist system is to make a profit. This drives innovation, competition, and growth.

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Minimal Government Intervention

Capitalist societies believe that markets should function freely with limited government interference.

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Taxation

The government's power to impose charges on individuals and property to fund public services.

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Fiscal Adequacy

A principle of sound taxation: the government must collect enough revenue to meet its expenses and provide public services.

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Study Notes

Justice and Fairness

  • Justice involves giving each person what they deserve.
  • Fairness considers actions, processes, and consequences that are morally right, honorable, and equitable.
  • There's substantive fairness (fair decision) and procedural fairness (fair decision-making process).
  • Distributive justice deals with fair distribution of benefits and burdens in society.
  • Retributive justice focuses on just punishments.
  • Compensatory justice involves fair compensation for injuries.

Political Doctrines

  • Egalitarianism: belief that people should be treated equally
  • Economic egalitarianism: equal access to economic resources (wealth, etc.).
  • Moral egalitarianism: equal respect for all individuals.
  • Legal egalitarianism: everyone subject to same laws.
  • Political egalitarianism: equal political power among members.
  • Luck egalitarianism: focuses on outcomes resulting from chance.
  • Gender egalitarianism: equal power between men and women.
  • Racial egalitarianism: absence of racial segregation.
  • Opportunity egalitarianism: equality of opportunity via resource redistribution.
  • Christian egalitarianism: all people are equal before God and in Christ (gender equality in leadership and marriage).
  • Socialism: public ownership of the means of production.
  • Capitalism: private ownership of factors of production.
  • Two-class system in capitalism (owners and workers).
  • Profit motive in capitalism.
  • Minimal government intervention in capitalism.
  • Competition crucial for capitalism.
  • Willingness to change/adapt key to success.

Taxation

  • Fiscal adequacy: sufficient funds for public spending.
  • Equality/theoretical justice: tax burdens proportional to ability to pay.
  • Administrative feasibility: convenient, equitable administration of taxes.

Globalization

  • Globalization: interaction and integration among people, companies, and governments across nations.
  • Driven by international trade, investment, and information technology.
  • Increased interconnectedness through trade, technology, and culture.
  • Technology and communication significantly benefit globalization.
  • Reasons for globalization: improvements in transportation, freedom of trade, communication, and labor availability.

Globalization Features

  • Liberalization: freedom for entrepreneurs to start businesses.
  • Free trade: unrestricted flow of goods between nations.
  • Globalization of economic activity: influenced by both domestic and international markets.
  • Liberalization of import-export system: free flow of goods and services.
  • Privatization: reducing state ownership of production/distribution.
  • Increased collaboration among entrepreneurs for modernization.
  • Economic reforms to strengthen free trade and market forces.

Millennials and Gen Z

  • Millennials (born 1980s-1990s): optimistic, collaborative, tech-savvy.
  • Often called "social media generation."
  • Gen Z (born 1990s-2010s): digital natives, promoting mental health awareness.
  • Associated with sustainability concerns.

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