Pol Sci Week 3 (7,8,9) PDF

POL SCI WEEK 3 (7,8,9) Study online at https://quizlet.com/_fi5jy3 1. what are critical Critical Junctures: These are significant events or periods junctures: that disrupt the existing institutional framework and pro- vide an opportunity for change, different wa...

POL SCI WEEK 3 (7,8,9) Study online at https://quizlet.com/_fi5jy3 1. what are critical Critical Junctures: These are significant events or periods junctures: that disrupt the existing institutional framework and pro- vide an opportunity for change, different way of ruling, turning point. 2. explain the im- This event in England is cited as a critical juncture that pact of the Glori- led to the establishment of more inclusive political and ous revolution of economic institutions. england in 1688: less monarchy and more democracy 3. explain the time- - pre-colonial - extractive institutions, monarchy held great line of the glori- power, parliament dominated by elit ous revolution to - G. REV - monarchy curbed and parliament gained inclusive institu- greater control - BILL OF RIGHTS tions - incentives for innovation = less risk of property confiscat- ed = MERCANTILE CLASS - property rights, confident investment, financial institu- tions, secure property rights 4. what does se- clear ownership, individual and business had a clear legal cure property right to own and manage rights mean: 5. what was the is a critical juncture but its benefits are unevenly distrib- negative impact uted. of the industrial revolution? 6. what is creative o Describes the ongoing process of innovation where new destruction? ideas, technologies and businesses disrupt and eventually replace existing ones. It's a dynamic and disruptive force that drives economic progress in the long run examples: typewriter, renewable energy, AI 7. what is the im- - Increased efficiency, lower costs pact of creative - Improved products and services can raise standards of destruction? living - New diverse industries and jobs 8. 1/4  POL SCI WEEK 3 (7,8,9) Study online at https://quizlet.com/_fi5jy3 what are some o Job displacement, challenges of o Income inequality (the digital divide) creative destruc- tion? 9. does capitalism (kinda) contribute or hin- o Are capitalists just hindering each other from creative der to creative destruction, because of competition? (oil companies and destruction? renewable energy companies) 10. explain the pos- When institutions are inclusive, they encourage broad itive feedback participation and investment in economic activities. This, loop: in turn, leads to economic growth, which reinforces the demand for inclusive institutions. 11. explain negative extractive institutions create a vicious cycle. These insti- feedback loops: tutions concentrate power and resources in the hands of a few, leading to economic stagnation and political instability. The lack of broad participation in the economy prevents most people from contributing to or benefiting from economic growth. 12. what is the im- - political institutions are crucial for the functioning of inclu- pact of political sive economic institutions institutions? - helps with checks and balances + equal distribution of power 13. give an exam- the USA - established a system of checks and balances, ple of a positive protected individual rights and encouraged innovation and feedback loop/ development virtuous cycle: 14. what are bene- `economic growth, increased productivity and rise in living fits of industrial- standards ization? 15. what are EXAM- · The ottoman empire PLES of resis- · Latin American elites tance to change : - Absolutist monarchies 2/4  POL SCI WEEK 3 (7,8,9) Study online at https://quizlet.com/_fi5jy3 16. what are some - Political Manipulation: elite using their own agenda to mechanism of re- block reforms that promote industrialization (Mexican Ha- sistance? cienda system) - block reforms - shape legislation - violence and coercion - controlling information (BEIC) 17. what is the IRON that all forms of political systems, even those that start with LAW OF OLIGOP- democratic ideals, tend to evolve into oligarchies where a OLY? small group holds power. 18. give an example evolution of Roman Republic into the Roman Empire, of iron law oli- where power became increasingly centralized under a few gopolies: elite 19. give 2 examples · Belgian Congo of colonial ex- · British India tractive institu- tions 20. what are exam- - Mexico: Aztec empire's tribute system ples of disrupted Ghana: pre-colonial territories had developed trade net- Re-colonial insti- works and some level of social mobility tutions? 21. what is the - Path dependence Long-lasting im- - Viscous cycle pact of colonial- - Dual economy ization: 22. what does a dual o Refers to a situation where a country has two different economy mean? economic sectors and operate with very different levels of productivity and prosperity. - Modern sector -Traditional sector - example : Nigeria 23. how does slave - Disruption and depopulation trade hinder de- - Prioritise short term gains 3/4  POL SCI WEEK 3 (7,8,9) Study online at https://quizlet.com/_fi5jy3 velopment in - Reinforcements of extractive institutions Africa specifical- - No positive spillovers ly ? 24. who proposed Sir William Arthur Lewis 1955 the dual econo- my? 4/4