IntMgt Ch2 posting - Chapter 2 National Differences in...

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Chapter 2 National Differences in Political Economy 11
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Political Economy The political economy of a nation refers to how: The Political The Economic The Legal Systems of a country are interdependen t; they interact and influence each other, and in doing so they 22
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Political Systems Political systems can be assessed according to two dimensions: The degree to which they emphasize collectivism as opposed to individualism The degree to which they are democrati c or totalitarian 33
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Collectivism And Individualism Collectivism refers to a political system that stresses collective goals over individual goals Collectivism can be traced back to the Greek philosopher, Plato (427-347 BC), but in modern times, collectivism is equated with “socialists” 44
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Collectivism Socialists advocate state ownership of the basic means of production, distribution, and exchange State-owned enterprises are managed to benefit society as a whole, rather than individual capitalists In the early 20th century, socialism split into: Communism – socialism achieved through totalitarian dictatorship Social democrats – socialism is achieved through democratic means 55
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Collectivism By the mid-1990s, communism was in retreat worldwide Social democracy is also retreating as many countries move toward free market economies Many State-owned enterprises have been privatized 66
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Individualism Individualism refers to philosophy that an individual should have freedom in his own economic and political pursuits Individualism can be traced to Greek philosopher, Aristotle (384- 322 BC), who argued that individual diversity and private ownership are desirable Under individualism, individual economic and political freedoms are the ground rules on which a society should be based Today, individualism typically means democratic political systems 77
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IntMgt Ch2 posting - Chapter 2 National Differences in...

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