PopulismPopulism is a range of political stances that emphasize the idea of "the people" and often juxtapose this group against "the elite". It is frequently associated with anti-establishment and anti-political sentiment. The term developed in the late 19th century and has been applied to various politicians, parties and movements since that time, often as a pejorative. Within political science and other social sciences, several different definitions of populism have been employed, with some scholars proposing that the term be rejected altogether.
IdeologyAn ideology is a set of beliefs or philosophies attributed to a person or group of persons, especially those held for reasons that are not purely epistemic, in which "practical elements are as prominent as theoretical ones." Formerly applied primarily to economic, political, or religious theories and policies, in a tradition going back to Karl Marx and Friedrich Engels, more recent use treats the term as mainly condemnatory.
Comparative advantageIn an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the work gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress.
PovertyPoverty is a state or condition in which one lacks the financial resources and essentials for a certain standard of living. Poverty can have diverse social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: absolute poverty compares income against the amount needed to meet basic personal needs, such as food, clothing, and shelter; relative poverty measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place.
ObjectivismObjectivism is a philosophical system developed by Russian-American writer and philosopher Ayn Rand. She described it as "the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute". Rand first expressed Objectivism in her fiction, most notably The Fountainhead (1943) and Atlas Shrugged (1957), and later in non-fiction essays and books.
Political partyA political party is an organization that coordinates candidates to compete in a particular country's elections. It is common for the members of a party to hold similar ideas about politics, and parties may promote specific ideological or policy goals. Political parties have become a major part of the politics of almost every country, as modern party organizations developed and spread around the world over the last few centuries. It is extremely rare for a country to have no political parties.
The EconomistThe Economist is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by the Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. In 2019, its average global print circulation was over 909,476; this, combined with its digital presence, runs to over 1.6 million.
Friedrich HayekFriedrich August von Hayek (ˈhaɪək , ˈfʁiːdʁɪç ˈʔaʊɡʊst fɔn ˈhaɪɛk; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian-British economist and political philosopher who made contributions to economics, political philosophy, psychology, intellectual history, and other fields. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena.
Left-wing politicsLeft-wing politics describes the range of political ideologies that support and seek to achieve social equality and egalitarianism, often in opposition to social hierarchy as a whole or certain social hierarchies. Left-wing politics typically involve a concern for those in society whom its adherents perceive as disadvantaged relative to others as well as a belief that there are unjustified inequalities that need to be reduced or abolished through radical means that change the nature of the society they are implemented in.
Anarcho-capitalismAnarcho-capitalism (or, colloquially, ancap or '"an-cap"') is an anti-statist, libertarian, political philosophy and economic theory that seeks to abolish centralized states in favor of stateless societies with systems of private property enforced by private agencies, the non-aggression principle, free markets and self-ownership, which extends the concept to include control of private property as part of the self.
