Final answer:
The concept that 'we the people' authorize the government to make decisions on our behalf in return for right protection is the social contract. This principle is echoed in the Declaration of Independence and is embedded in the concept of constitutionalism, which limits governmental power to protect individual rights.
Step-by-step explanation:
The fundamental principle that states "we the people" give the government permission to make decisions for us in exchange for the protection of our rights is known as the concept of the social contract. Philosophers like John Locke and Jean Jacques Rousseau were pivotal in developing this theory, which posits that individuals consent to surrender some of their freedoms and submit to the authority of the ruler (or to the decision of a majority), in exchange for the protection of their remaining rights.
The Declaration of Independence expresses this principle with the words: "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness." Furthermore, this document asserts that to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. Essentially, this means that the legitimacy of a government comes from the consent of the people who allow their rule for the purpose stated.
Constitutionalism also plays a role by imposing limits on the extent of government powers, thus safeguarding individual rights and freedoms through the Bill of Rights and the Constitution. As such, it supports the notion that while the government has the authority to govern, its power is not absolute and must be exercised within the constraints set by the people through their constitutional agreement.