Y09W08VC Theme Words — Economic systems

An economic system in which trade, industry and the means of production are privately owned and operated for profit.

Word Breakdown: -ism (suffix meaning 'a system, practice or belief')

Word family: capitalist (n./adj.), capitalistic (adj.)

Example: Proponents of capitalism argue that competition drives innovation, while critics contend that it entrenches inequality.

Synonyms: free-market system, market economy, private enterprise

Collocations: global capitalism, late capitalism, critique capitalism

The way in which something, especially wealth, resources or goods, is divided and spread among people or places.

Word family: distribute (v.), distributive (adj.)

Example: A key criticism of the current economic model is the unequal distribution of wealth between the highest and lowest earners.

Synonyms: allocation, spread, sharing

Collocations: wealth distribution, income distribution, unequal distribution

A situation in which people are not treated equally or do not have equal opportunities, often because of differences in wealth, status or power.

Word family: unequal (adj.), inequitable (adj.)

Example: Rising inequality in access to quality healthcare has become one of the most pressing issues in contemporary Australian society.

Synonyms: disparity, unfairness, imbalance

Collocations: economic inequality, social inequality, address inequality

Written or spoken communication about a subject; also refers to the broader system of language and ideas that shapes how a topic is understood in a society.

Word family: discursive (adj.)

Example: The dominant discourse surrounding poverty has shifted from structural causes to individual responsibility over the past decade.

Synonyms: discussion, debate, language

Collocations: academic discourse, political discourse, dominant discourse

A system of beliefs, values and ideas that forms the basis of a political, economic or social approach or theory.

Word family: ideological (adj.), ideologically (adv.)

Example: The free-market ideology that shaped economic policy in the 1980s continues to influence government thinking today.

Synonyms: belief system, doctrine, worldview

Collocations: economic ideology, dominant ideology, neoliberal ideology

The dominant authority, influence or control that one country, group or system exercises over others, often in ways that come to seem natural or inevitable.

Word family: hegemonic (adj.)

Example: The hegemony of the United States in global financial institutions has been increasingly challenged by emerging economies.

Synonyms: dominance, supremacy, authority

Collocations: global hegemony, economic hegemony, challenge hegemony

A typical example, model or pattern that represents the standard or accepted way of thinking about a subject.

Word family: paradigmatic (adj.), paradigm shift (n.)

Example: The global financial crisis of 2008 prompted some economists to question the dominant paradigm of deregulated markets.

Synonyms: model, framework, standard

Collocations: dominant paradigm, paradigm shift, economic paradigm

Language designed to persuade or impress; sometimes used to describe language that sounds impressive but lacks substance or sincerity.

Word family: rhetorical (adj.), rhetorically (adv.)

Example: Critics accused the government of relying on economic rhetoric without providing concrete evidence for its growth claims.

Synonyms: persuasive language, oratory, spin

Collocations: political rhetoric, empty rhetoric, rhetorical device

In addition to what has already been said; used to introduce another point that adds to or supports the current argument.

Example: The data shows a widening income gap; furthermore, access to quality education continues to reflect socioeconomic status.

Synonyms: in addition, moreover, also

Collocations: furthermore, the data shows; furthermore, it is clear; furthermore, this suggests