The term 'social contract' in political theory refers to the theoretical agreement among individuals to form a society and establish a government. It posits that citizens consent to surrender some freedoms in exchange for protection and social order. Philosophers like Hobbes, Locke, and Rousseau articulated different interpretations of this concept, influencing modern democratic thought. The social contract serves as a foundation for understanding the legitimacy of authority, emphasizing that governments derive their power from the consent of the governed, and should be accountable to the people.