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Glossary

Chapter 40: The Resurgence of Conservatism, 1980-1992

Globalization

the process of opening national borders to the free flow of trade, capital, ideas and information, and people.

leveraged buy-out

the purchase of one company by another using money borrowed on the expectation of selling a portion of assets after the acquisition.

Logistical

relating to the organization and movement of substantial qualities of people and material in connection with some defined objective.

Neoconservatives

political activists and thinkers, mostly former liberals, who turned to a defense of traditional social and moral values and a strongly anticommunist foreign policy in the 1970's and 1980's.

New Right

conservative movement opposing the political and social reforms that developed in the 1960's (and before) and demanding less government intervention in the economy and a return to traditional values; a major political force by the 1980's.

red ink

referring to a deficit in a financial account, with expenditures or debts larger than income or assets.

supply side

in economics, the theory that investment incentives such as lowered federal spending and tax cuts will stimulate economic growth and increased employment.

welfare state

the political system, typical of modern industrial societies, in which government assumes responsibility for the economic well-being of its citizens by providing social benefits.


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