In Western politics, the term conservatism often refers to the school of thought based on British politician Edmund Burke’s criticism of the French Revolution. Though his legacy as a conservative is disputed, he wrote against the excesses of mob rule. (CC Wikipedia – 02/28/2010)

The phrase classical liberalism is also sometimes used to refer to all forms of liberalism before the 20th century. And, after 1970, the phrase began to be used by libertarians to describe their belief in the primacy of economic freedom and minimal government. It is sometimes difficult to tell which meaning is intended in a given source. (CC Wikipedia – 02/28/2010)

The document addressed abuses of royal power by his predecessor, his brother William Rufus, as perceived by the nobility, specifically the over-taxation of the barons, the abuse of vacant sees, and the practices of simony and pluralism.

The charter of liberties was generally ignored by monarchs until in 1213 Archbishop Langton reminded the nobles that their liberties had been guaranteed over a century prior in Henry I’s Charter of Liberties. (CC Wikipedia – 02/28/2010)

There is no consensus on the definition of capitalism, nor how it should be used as an analytical category. There are a variety of historical cases over which it is applied, varying in time, geography, politics and culture. Economists, political economists and historians have taken different perspectives on the analysis of capitalism. Scholars in the social sciences, including historians, economic sociologists, economists, anthropologists and philosophers have debated over how to define capitalism, however there is little controversy that private ownership of the means of production, creation of goods or services for profit in a market, and prices and wages are elements of capitalism.

Economists usually put emphasis on the market medievalism, degree of government does not have control over markets (laissez faire), and property rights, while most political economists emphasize private property, power relations, wage labor, and class. There is a general agreement that capitalism encourages economic growth. The extent to which different markets are “free”, as well as the rules determining what may and may not be private property, is a matter of politics and policy and many states have what are termed “mixed economies.”

Capitalism as a system developed incrementally from the 16th century in Europe, although capitalist-like organizations existed in the ancient world, and early aspects of merchant capitalism flourished during the Late Middle Ages. Capitalism became dominant in the Western world following the demise of feudalism. Capitalism gradually spread throughout Europe, and in the 19th and 20th centuries, it provided the main means of industrialization throughout much of the world. (CC Wikipedia – 02/28/2010)

An entrenched bill of rights exists as a separate instrument that falls outside of the normal jurisdiction of a country’s legislative body. In many governments, an official legal bill of rights recognized in principle holds more authority than the legislative bodies alone. A bill of rights, on the other hand, may be weakened by subsequent acts passed by government, and they do not need an approval by vote to alter it.

An unentrenched bill of rights exists as a separate act that is presented by a legislative body. As such it can be changed or repealed by the body that created it. It is not as permanent as a constitutionalbill of rights.

In other jurisdictions, the definition of rights may be statutory. In other words, it may be repealed just like any other law, and does not necessarily have greater weight than other laws. Not every jurisdiction enforces the protection of the rights articulated in its bill of rights.

Australia is the only Western country with neither a constitutional nor legislative bill of rights, although there is ongoing debate in many of Australia’s states. Former Australian Prime Minister John Howardhas argued against a bills of rights for Australia as transferring power from elected politicians to unelected judges and bureaucrats. Victoria and the Australian Capital Territory (ACT) are the only regions of the nation’s states to have a human rights bill. (CC Wikipedia – 02/28/2010)

The French Revolution began in 1789 with the convocation of the Estates-General in May. The first year of the Revolution witnessed members of the Third Estate proclaiming the Tennis Court Oath in June, the assault on the Bastille in July, the passage of the Declaration of the Rights of Man and of the Citizen in August, and an epic march on Versailles that forced the royal court back to Paris in October. The next few years were dominated by tensions between a liberal legislature and a conservative monarchy intent on thwarting major reforms. The liberals proclaimed a republic in September 1792 and the king was executed the next year. External threats also played a dominant role in the development of the Revolution. The French Revolutionary Wars started in 1792 and ultimately featured spectacular French victories that facilitated the conquest of the Italian peninsula, the Low Countries, and most territories west of the Rhine—achievements that had defied previous French governments for centuries. Internally, popular sentiments radicalized the Revolution significantly, culminating in the brutal Reign of Terror from 1793 until 1794. After the fall of Robespierre and the Jacobins, the Directory assumed control of the French state in 1795 and held power until 1799, when it was replaced by the Consulate under Napoleon Bonaparte.

The modern era has unfolded in the shadow of the French Revolution. The growth of republics and liberal democracies, the spread of secularism, the development of modern ideologies, and the invention of total war all mark their birth during the Revolution. Subsequent events that can be traced to the Revolution include the Napoleonic Wars, two separate restorations of the monarchy, and two additional revolutions as modern France took shape. In the following century, France would be governed at one point or another as a republic, constitutional monarchy, and two different empires. (CC Wikipedia – 02/19/2010)

Under a free trade policy, prices are a reflection of true supply and demand, and are the sole determinant of resource allocation. Free trade differs from other forms of trade policy where the allocation of goods and services amongst trading countries are determined by artificial prices that may or may not reflect the true nature of supply and demand. These artificial prices are the result of protectionist trade policies, whereby governments intervene in the market through price adjustments and supply restrictions. Such government interventions can increase as well as decrease the cost of goods and services to both consumers and producers.

Interventions include subsidies, taxes and tariffs, non-tariff barriers, such as regulatory legislation and quotas, and even inter-government managed trade agreements such as the North American Free Trade Agreement (NAFTA) and Central America Free Trade Agreement (CAFTA) (contrary to their formal titles) and any governmental market intervention resulting in artificial prices.

Most states conduct trade polices that are to a lesser or greater degree protectionist. One ubiquitous protectionist policy employed by states comes in the form of agricultural subsidies whereby countries attempt to protect their agricultural industries from outside competition by creating artificial low prices for their agricultural goods.

Free trade agreements are a key element of customs unions and free trade areas. The details and differences of these agreements are covered in their respective articles. (CC Wikipedia – 02/21/2010)