INTB 1209 Lecture Notes - Lecture 3: Totalitarianism, Collectivism, Social Democracy
27 Jan 2016
School
Department
Course
Professor
Document Summary
Intb 1209-lecture#3-national differences in political, economic and legal systems. National differences in political, economic and legal systems. To learn about the various practices and differences observed in different countries. Answer: a country"s political economy refers to its political, legal & economic differences. Political system: political system can be assessed in terms of degrees by collectivism & Collectivism: the principle by which a group as a whole is given priority over individual priority. Socialism: it is the principle where the government becomes the controller or owner of industries rather than individuals. Karl marx"s theories no economy were used to base the models of socialist economies. Examples: vietnam-state owns a significant number of industries, controlled economy. It strives for full employment, and every individual is given equal opportunity. Social democrats: worked to achieve same goals by means of democratic means. Many state- owned enterprises failed to succeed and many nations implemented privatization programs.
