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Describe the basic features of a chartered bank's balance sheet.
State of Nature
A philosophical concept describing the hypothetical condition of humanity before the establishment of society and laws.
Legitimate Political Power
Authority or power in political systems that is recognized as right and proper, often established through laws, social norms, or consensus.
Might Makes Right
The idea that, when determining who has legitimate power to govern a society, those who are the strongest or otherwise superior should (or inevitably will) rule. In effect, this is to claim that the person who is strong enough to hold on to ruling authority has legitimate power merely by virtue of being strong enough to retain power.
Distributive Justice
The ethical principle concerning the fair allocation of resources and goods among members of a society.
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