AGB 302 Chapter Chapter 2: Globalization & National differences
Document Summary
The political economy of a nation is how the political, economic, and legal systems of a country are interdependent. They effect the level of economy in a nation. Degree that the country emphasizes collectivism as opposed to individualism. Stresses primacy of collective goals over individual goals. Advocate state ownership or basic means of production, distribution, and exchange. Communism- socialism only achieved through violent revolution and totalitarian dictatorship. In retreat worldwide by mid 1990s (cid:12254) social dems- socialism is achieved through democratic means. The philosophy that an individual should have freedom in his own economic and political pursuits. Individual diversity and private ownership are desirable (cid:12254) (cid:12254) Society should be based on individual economic and political freedom. A political system in which the government is the people (either directly or through elected representatives) Citizens should be directly involved in decision making. Most modern democratic states practice representative democracy where citizens periodically elect individuals (cid:12254) (cid:12254) (cid:12254)
