Chapter 2 Notes

Chapter 2 Notes - Mos 1020A – Fall 2009 – Raymond Leduc...

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Unformatted text preview: Mos 1020A – Fall 2009 – Raymond Leduc Reading Notes GLOBAL BUSINESS TODAY 2 nd Edition, CHAPTER 2: POLITICAL SYSTEMS • The economic and legal systems of a country are shaped by its political system • Political system – system of government in a nation • Measured in degrees : o 1. Collectivism vs individualism o 2. Democratic vs totalitarianiam collectivism totalitarian individualism democratic Collectivism – a political system that emphasizes collective goals as opposed to individual goals • Needs of society considered to be more important than needs of the individual • An individual’s right may be denied if it runs counter to “the good of society” Som • Can be traced back to Plato and Karl Marx o Marx argued that som and state-owned enterprises would ensure that workers were fully compensated for their labour, thus benefiting society rather than individual capitalists • Split into 2 groups: o Communists – those who believe that som can be achieved only through revolution and totalitarian dictatorship Reached its high in the 1970s when the majority of the world’s population lived in communist states Was in retreat by the 1990s (collapse of Soviet Union, etc.) Still exists in North Korea and Cuba o Social democrats – those committed to achieving som by democratic means Had greatest influence in democratic Western nations (Australia, UK, France, Germany, Norway, etc.) and India and Brazil Ideas traced back to Karl Marx Many social democratic governments nationalized private companies in certain industries transforming them into state-owned enterprises to be run for the “public good rather than the private good” Many of these enterprises have become increasingly inefficient Many social democratic governments were voted out of office in the 1970s and 1980s Individualism – an emphasis on the importance of guaranteeing individual freedom and self-expression • The opposite of collectivism • Philosophy that an individual should have freedom in his or her economic and political pursuits • Traced back to Aristotle o Argued that individual diversity and private ownership are desirable o Private property is more highly productive than communal property and will thus stimulate progress o Communal property receives little care; private property receives the greatest care • Influential political philosophy in the Protestant trading nations of England and the Netherlands during the 16 th century •...
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Chapter 2 Notes - Mos 1020A – Fall 2009 – Raymond Leduc...

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