ACCTG 1 Lecture Notes - Lecture 12: Collectivism, Business Analysis, Social Democracy
Document Summary
International business analysis politics, law and culture. Iran, vatican: tribal totalitarianism - found in states where a political party that represents the interests of a particular tribe monopolizes power. Iraq: right-wing totalitarianism - permits some individual economic freedom, but restricts individual political freedom, china. Political ideology and economic systems are connected countries that stress individual goals are likely to have market based economies in countries where state-ownership is common, collective goals are dominant. For example, china has seen a move toward greater individual freedom in the economic sphere, but the government is still a totalitarian. There was a time not too long ago when uk, france, and sweden were mixed economies, but extensive privatization has reduced state ownership of businesses in all three. Legal systems are important for business because they: define how business transactions are executed identify the rights and obligations of parties involved in business transactions.
