Chapter 40: The Resurgence of Conservatism, 1980-1992
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Globalization
| the process of opening national borders to the free flow of trade, capital, ideas and information, and people.
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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.
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Logistical
| relating to the organization and movement of substantial qualities of people and material in connection with some defined objective.
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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.
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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.
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red ink
| referring to a deficit in a financial account, with expenditures or debts larger than income or assets.
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supply side
| in economics, the theory that investment incentives such as lowered federal spending and tax cuts will stimulate economic growth and increased employment.
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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. |
