| Term | Definition |
| Liberalism | The assumption that individuals are rational actors capable of overcoming obstacles |
| Classic Liberalism | belief that governments that are "governed least" are governed best |
| Contemporary Liberalism | the New Deal: the use of government to save social problems |
| Neo Liberalism | Emphasis on belief in the creation of wealth rather than the redistribution of wealth |
| Classic conservatism | Emphasis on property rights, Laissez-faire economics |
| Contemporary conservatism | favor smaller governments and little interference with the private sector |
| Neo Conservatism | Liberal intellectuals believe traditional liberal principles are to intrusive to state government but embrace modest welfare state |
| What do conservatives favor? | Weaker national government, strong military, indivduals responding for own well being, less govt. interference |
| Populist conservatism | The "New Right" |
| Democratic socialism | promotes quasi socialism, parts of econ system would be owned by government |
| Libertarianism | revival of classic liberalism, govt, role should be to protect citizens, no interference in private lives |