POLI 105 1st Edition Lecture 6Rational Choice Theory:• Perfectly Rational • Instrumental Rational • Bounded rational • Game theoryPsychological Approaches- • Cognitive Psycho- o Process by which people seek to make sense of the raw info about the world• Motivational Psychology- o What motivates human behavior▪ Deep seeded fears, desires and needs▪ Self-esteem, social approval, a sense of entitlement or efficacy• Behavioral Economics- o Prospect theory= $20 or a ticket that gives you a 1 in 100 chance to win $1 million dollars Liberalism- • Economic These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.• Social • Political • Democratic Peace Marxism:• Philosophically-based theory of how history unfolds, borrowed from Hegel and then turned upside down by making the material world and social conflict, not the clash of ideas, the motor of history • Understanding of how classes dominate each other • Critical discussion of how capitalism works • Political doctrine on how to replace capitalism with socialismCritiques of Marxism:• Extensive history of economic and military cooperation among industrial powers showedthat capitalist countries could cooperate • Divisions among the communist countries suggested that socialism did not promote harmony• Economically, Marxism’s theory and its basis on labor was seen as to simplistic • Marxism could be dogmatic and overly deterministic, but often proved fallible • Marxist economic models generally didn’t work as well as export orientated and more capitalist models of developmentCognitive Psychology:- Examines the process by which people seek to make sense of raw information about the world- People look for commonalities and make decisions based on past experiencesMotivation Psychology:- Explains human behavior in terms of deep seated psychological fears, desires and need. Issues like self-esteem, social approval, a sense of entitlement or efficacy- What drives our behaviors or what past experience shapes our current behavior? Behavioral Economics:- Why are some people risk acceptant and others risk adverse?- Are people more adverse to loss are they willing to take risk?Theological Marxism:- A philosophically-based theory of how history unfolds, borrowed from Hegel and then turned upside down by making the material world and social conflict, not the clash of ideas, the motor of history- An understanding of how classes dominate each other- A critical discussion of how capitalism works- Finally, a political doctrine on how to replace capitalism with socialismMarxism in 19th Century:1) Social Democracy:a. One strand thought that it was possible to work within the electoral system and become a majority in parliament, making it feasible to legislate socialism. However, supporters of this approach inevitably softened their platform to win political support and make compromises with capitalismb. Some became Social Democrats and created social democracies- as in Europe, embracing capitalism but seeking to mitigate some of its abuses and hardship. One often sees the line of social democracy as utilizing the state to reduce social inequalities, promote social progress and improve the lives of the general welfare and especially the lower classesc. Many of your social democratic states today embrace some of the concepts of Marxism but also accept the importance of capitalism, yet seek to mediate hardships through social programs2) Socialist Revolutionaries:a. Another group believes that the state and parliamentary democracy is rigged and that the capitalists would use violence to remain in powerb. Proponents of this view advocated revolutionary parties that would prepare to overthrow the government, seize power, and abolish capitalism by forcec. The person who pushed this idea most profoundly was perhaps Lenin, the leader of the Bolshevik Revolution in Russia during World War