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Economic Systems - Japan South Korea Singapore Future 1...

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Economic Systems Capitalism Socialism Private Ownership Personal Profit Competition and Choice Justice Freedom of the Market Place o Ex. – U.S. Collective Ownership Collective Goals Government Control and No Choice Justice Everyone’s Basic Needs o Ex. – China, Cuba Advantages of Capitalism Advantages of Socialism Productive economy High standard of living Personal freedom and choice Economic equality Freedom from worrying about basic needs o No homelessness o Job guaranteed for life
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Welfare Capitalism Economic and political system that combines a mostly market based economy with extensive social welfare programs. Sweden, Denmark, Italy State Capitalism Private companies aid the government in the aid for the lower classes, companies get tax exemptions, government keeps competition out; emphasis is capitalism.
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Unformatted text preview: Japan, South Korea, Singapore Future? 1. Dichotomized society 2. More opportunities for women 3. Decrease in the number of farmers 4. Change in family size and types 5. Middle Class 6. New types of organizations [flexible] Politics Power Government Authority • Traditional Chinese, Inka, Aztec, Emperors, nobility in middle age Europe • Rational-legal/bureaucratic • Charismatic o E.g., Jesus, Buddha, Mohammed, Ghandi, Martin Luther King Jr., • Destructive Charismatic leaders o Hitler, Manson, David/James (??) Koresh, Jim Jones Monarchy Queen of England Democracy U.S. government Authoritarianism • Saudi Arabia, Bahrain, Ethiopia Totalitarianism • Nazi Germany, Formes’ Soviet Union, Cuba, China, North Korea...
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