COMMERCE 4SA3 Chapter Notes - Chapter 2: Totalitarianism, Social Democracy, Individualism
27 Nov 2018
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Political system: the system of government in a nation. Can be assessed by the degree to which they emphasize collectivism as opposed to individualism and by the degree to which they are democratic or totalitarian. Collectivism: political systems that stress the primacy of collective goals over individual goals. Can restrict individual freedoms if that"s what"s "best for society" Socialism can be split further into two camps: communism: socialism can be achieved only through violent revolution and totalitarian dictatorship. Social democracy has been far more long lasting than communism. Social democrat governments often nationalize private companies in certain industries, making them state- owned enterprises for public rather than private profit. Individualism: refers to a philosophy that an individual should have freedom in his or her economic and political pursuits, stresses that interest of the individual should take precedence over the interests of the state.
