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Libertarianism

Liberty is the principal objective.
Seek to maximize the autonomy and freedom of choice for individuals.
Supported by John Locke and Thomas Paine.

1

The Entitlement Theory of Economic Justice

Established by Nozick
The idea of free market exchanges is the only way to respect people as equals within the economy.

2

The Wilt Chamberlain Example

There is no patterned theory of just distribution. Any free market exchanges between people must be just but will alter the predicted pattern.

3

Command Economic System

Economic decisions are made by the government. A communist style economic system.

4

Free Market System

Prices of goods and services are decided between the consumer and the seller. The basic goal is to achieve economic equilibrium without the influence of the government.

5

Property Right

Can be viewed as an attribute of an economic good, resources can be used and owned by an individual, association and government

6

Base and Superstructure

Marxist Theory.
Base: comprehends the forces and relations of production. Example would be employer-employee work conditions, the technical labour and property relations.
Superstructure: the overall role of society. The base generally influences the superstructure but it can be the other way around.

7

Bourgeoisie

The healthy middle class established in the Middle Ages. A range of socio economic classes. Marxist believe this is is the group that owns the means of production.

8

Proletariat

The wage earning class, their only significance is the possession of the labour power. Marxist believe they are the basic social class.

9

Labor Theory of Value

The economic value of a good or service is determined by the total amount of labor required to produce it. Applies to Marxism economics.

10

Alienation

The state or experience of being isolated from a group or an activity to which one should belong or in which one should be involved. Karl Marx believed alienation occurred because of a society broken up into social classes.

11

Democracy

A form of government where all eligible citizens may participate equally.

12

Oppression

Prolonged cruel or unjust treatment or control

13

Feminism

The advocacy of women's rights on the grounds of political, social and economic equality to men

14

The Private/Public Distinction

Liberal view believes the government may regulate some public matters but has to keep their noses out of the private matters that may go on within a home. The radical view is that all matters at some point in time must be public to achieve equality for women.

15

The Maternal Model for Moral Relations

In the eyes of society mothers who are at home do work but it is in a way that is not socially accepted as a job. Reproducing and raising a child is work and important to society in a liberal view. Feminist find this ridiculous.

16

Racism

Belief that all members of each race posses characteristics or abilities to that specific race, especially so as to distinguish it as inferior or superior to another race or races.

17

Strong Preferential Treatment

Deals with affirmative action and the fact that decisions are made solely on demographic status. Some believe it is discrimination in reverse.

18

Weak Preferential Treatment

Decisions are based on merit and demographic status with the relative weighting left unspecified. Decisions are in favor of the more qualified applicant which is usually the minority.

19

"Color-blind"'Policies

Race doesn't matter, act under a veil of ignorance and allow affirmative action to prosper.