By Roger Scruton
This re-creation takes inventory of the progressive alterations that experience taken position because the dictionary used to be first released in 1982. 1790 entries disguise each point of political idea delivering an fundamental consultant to the concept, the knowledge and the folly of contemporary politics by way of probably the most lucid philosophers of our time.
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Extra resources for A Dictionary of Political Thought
E. when the sum of taxes equals the government's expenditure on goods and services. Followers of *Keynes argue that budget surpluses and deficits can be used to manage the economy, so that a balanced budget is not necessarily desirable. balkanJzation. Term coined by German socialists to describe the effect of latenineteenth-century Czarist policy on the Balkan states bordering the Russian Empire, and later used to denote the divisive effects upon those states of the treaty of Brest-Litovsk (1918).
Economists distinguish 'autonomous' and 'accomodating' items. The former include the imports and exports of goods and services, property income, and investments in long-term assets. The surplus or deficit on those items which are considered not to be within the direct control of the government of a state must be financed. Thus 'when we talk of an actual surplus or deficit in the balance of payments we shall have in mind this balance in autonomous trade 11\ld transfers. It is this sum which must be matched by what we have called accommodating fin.
Bakunin, Mikhail (1814-76). Russian revolutionary, often known as 'the father of modem •anarchism', whose conflict with Marx in 1869-71 broke up the First *International. Bakunin advocated violent struggle and individual acts of *terrorism in order to bring about revolutionary change, the principal goal of which would be the immediate elimination of all political, social and religious institutions, and their replacement with a free federation of independent associations in which all would have equal rights and equal privileges, including that of secession.