Concepts of Democracy

Basic Notions Recognition of the fundamental worth and dignity of every person Respect for the equality of all persons Faith in majority rule and an insistence in minority rights Acceptance in the necessity of compromise Insistence upon the widest possible degree of individual freedom

Worth of the Individual Everyone no matter what their station is a separate and distinct being

Respect for the equality of all persons Equality of opportunity Equality before the law

Faith in majority rule and an insistence in minority rights Will of the people Majority is right more often than any one person or group Majority must listen to the minority

Acceptance in the necessity of compromise Find the position most acceptable to the majority of people Compromise is a process a way of achieving majority agreement

Insistence upon the widest possible degree of individual freedom As much freedom as to not take from others freedom or rights Oliver Wendal Holmes “ my right to swing my fist ends where the other man’s nose begins” A proper balance between individual freedom and the rights of society as a whole

Duties and Responsibilities of Citizenship Duties Serving on a jury Serving as a witness when called Attending school Paying taxes Registering for the draft Obeying local state and national laws Respecting the rights of others

Responsibilities Voting Volunteering Participating in civic life Understanding the workings of our government

Economic System Free enterprise- private ownership of capital goods, investments made by private decision, success or failure determined by competition in the marketplace

Four basic premises 1. private ownership 2.individual initiative 3.profit 4. competition

Capitalism Private enterprise Market based system Does not rely on government to determine what is produced Supply and demand

Government participation in economics Regulations- Protections Anti trust laws, food and drug laws, pollution standards, zoning

What influence should government have on the economic system? Bail outs-The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, It was a component of the government's measures in 2008 to address the subprime mortgage crisisUnited States governmentGeorge W. Bush subprime mortgage crisis Obama Economic Stimulus packageEconomic Stimulus package