INTB 1203 Lecture Notes - Lecture 2: Product Liability, World Intellectual Property Organization, Sidor
16 Dec 2016
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Political economy: political, legal, and economic systems of a country. Impact on: benefits, costs, risks (political, economic, legal) of doing business: management practice and business strategy (africa/nigeria, right-wing (military is in power, collectivism (plato, marx): socialism, communism, social democracy. Economic systems: democracy vs totalitarianism (communist, socialist, theocratic (religious sects), tribal, individualism (aristotle, hume, smith, mill) freedom of expression, economic self-interest. Instability ukraine, iraq, egypt, syria, to name a few: market economy free enterprise, command economy central planning, mixed economy state intervention, gov. intervention, subsidize. Implications for business and economic growth lower taxes. Legal systems: common law, us from uk, civil law, theocratic law islamic banking. Property rights: private action to violate property rights. Theft, piracy, extortion by private individuals, groups, mafia. Exacerbated by a weak legal system: public action to violate property rights (done by gov. officials) Intellectual property: counterfeit drugs: toxic, sold on the internet. World intellectual property organization: product safety and product liability.
