PSCI 1050 Prof Major Notes from 4 6 15 4 29 15 capitalism Economy worst government spending increases Economy better government spending decreases Adam Smith If people are able to trade freely society will be guided by an invisible hand wrote wealth of nations invisible hand economy will fix itself free market Federal Reserve print money to put in circulation to help with recession and or debt 1 Securities 2 Reserve Rate 3 Adjust Interest Rates Reserve Rate the amount of money the bank needs on hand Ex interest rates bond securities and monetize the debt Monetize the debt manipulate money supply to fix debt Quantitative Easing they take care of the bank s debts Progressive Taxation wealthier more you pay Regressive Tax sales tax charges same amount regardless of how wealthy you are Social Welfare Children Poverty Lane 24 000 Non Controversial Controversial Medicare Medicaid TANF welfare WIC Social Security SNAP food stamps nutritional adequate diet 133 per month TANF Temporary Assistance for Needy Families gives money SNAP Supplemental Nutrition Assistance Program gives food stamps Means Tested If you make below a certain income you automatically qualify for temporary aid Insurance Program transfer program Social Security 1 7 Americans in SNAP program 100 below poverty line below 31 000 Head Start Education Social Security entitlement percentage of money you get back from working Welfare limit is 5 yrs head of household must find work in 2 yrs of welfare reduce by half National Interest Realism Thomas Hobbes all human beings are equal Thomas Hobbes state of nature natural rights every man for himself Supply Side Economics trickle down Reaganomics Ronald Reagan If you cut taxes people will spend more Pre Captive Warfare goes to other country and stop terrorists Patriot Act after 9 11 asymmetrical warfare pre emptive war government can spy without Asymmetrical war a group of small people that fights against a country big group warrant Ex 9 11 terrorists Pre Emptive War strike first MAD mutually assured destruction in the case of a nuclear war the same will be returned to make sure no one survives philosophy during cold war Deterrence won t attack if they know they will be destroyed Adelverein Society Texas Mexican government tried to get Germans to immigrate to Texas Economic Interests 1 Open Market 2 3 Natural Resources Widening Gap Public opinion against foreign financial aid is less than 1 Soft Power Diplomacy and certain parts of economic sanctions foreign aid bribery North Carpet Baggers 1869 Constitution very strong centralized government South Scalawags Texas has weakest government in terms of power Texas Legislative Power Madison said most dangerous branch is Legislative Article 1 Texas Article 1 Bill of Rights Multilateral when countries cooperate coalition military relate Ex U S and Brits NATO Unilateral When a country operates by itself Presidential Selection the Nomination Process nomination process has developed from one of peer review to pure democracy How a Candidate gets nominated 1 Complete in caucuses and primaries to earn delegates 2 Candidate who receives the most delegates wins 3 A little difference between two parties proportional representation vs winner takes all super delegates Relatively new system 1972 key date Difference between caucus and primary caucus takes more time and often requires public deliberation primary more like a regular vote How to understand Structure calendar and rules 1 Structure is there an incumbent running 2 Fact or frontloading compression of nomination process into few weeks months days 3 The calendar and the rules From 1790 to 1824 parties nominated their candidates by meeting as a caucus in Congress The result rule by Washington insiders Secretaries of State Others Charles Cotesworth Pinckney George Clinton VP Twice 1968 The End of the Middle Period 1 The incumbent LBJ withdraws 4 Convention nominates Humphrey Reform McGovern Fraser commission 1971 2 Anti war candidates McCarthy RFK and later McGovern in primaries 3 VP Hubert Humphrey as the stay the course candidate didn t compete in primaries All delegates awarded in primaries caucuses republicans