The Thomas Library of Congress was the very first electronic record of legislative documentation from the United States House of representatives. It was established in January 1995, and its stated purpose is to research questions posed by senators and Congressmen (Colby, 2017). The library also houses and manages United States Copyright Office (Colby, 2017). The library is available online, and below are the definitions and meanings of some of the terms found on its website.
Authority is a power that people have agreed to follow and have specific methods of control. People respect individuals that are dominant in leadership, and they believe that due to the position they are in, respect is deserved. For individuals in a superior position or that ranks them at a higher position that respect is necessitated. Capitalism is a system in which private investors control the economy and industrialization, and in return, they get a profit. They also set market prices to serve society to the best of their interest.
Communism is a philosophy that aims to establish a social system so that the socioeconomic order will be based on the ideals of democratic control. It will also deal with the production of resources and the eradication of social groups, finance, and bureaucracy. Democracy is a form of administration in which people are involved in making major enterprises. They are directly or indirectly considered when making laws, the state’s goals, and deciding on their preferred type of governance.
Downsizing has been the process of permanently reducing entire operations by eradicating unproductive workforces or departments. It is a predominant legislative method that is regularly related to economic recessions and botched establishments. In a civilization or a specific geographic region, an economic system is a way of manufacturing, priority setting, trade, and administration of merchandise. A small group with a similar political and economic interest in society is viewed as an elite model.
Informal economy refers to an extensive choice of commercial development, businesses, service, and employees who are not controlled or legally protected. This term was first used to describe people that are independent and unlicensed companies (Himchenko & Degtyarev, 2021). This has been extended to insurance-paid exertion in non-protected places. A monopoly is a market dynamic in which a vendor can sell a particular product in the market. In this context, the seller has no competitors since they are the lone suppliers of items that are not similar. They have knowledge that is not available to the other sellers. A monopolistic market, dependent on management licensing, resource control, trademark, and intellectual tenure, as well as an entrants cost, turns an organization into a sole provider of commodities.
The Pluralist model explains how many opposing organizations in society have admittance to political representatives and battle with one another to sway policy choices. Pluralists say that the struggle between many major parties, tribal groupings, and other special interests in politics proves the existence of several power centers. A political system is a form by which official state decisions are made, according to political theory. It is frequently contrasted with the constitutional, financial, ideological, as well as other welfare structures. Power is the capacity of a person to perform or have an impact on someone else. For example, the government has the authority to collect revenue and would well illustrate power.
Representative democracy is a type of consensus that entails leaders that have been elected to represent an assemblage of people. Socialism is a radical, societal, and financial theory that encompasses a variety of economic relations marked by communal possession of produce and representative government, like the overall work performance of businesses. Totalitarianism is a kind of governance that seeks total power above its subjects’ lifestyles. It is marked by a high system of planning that uses force and intimidation to manipulate and guide all elements of personal experience. Personal freedom to the governed in this case is not allowed.
References
Himchenko, A., & Degtyarev, S. (2021). Informal economy: Employment in the informal sector of the economy. Society, Economy, Management, 6(2), 62-72. Web.
Colby, M. (2017). Library of Congress subject headings: Online Training. Cataloging & Classification Quarterly, 55(7-8), 667-668. Web.