Chapter 2 notes - Chapter 2 National differences in...

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Chapter 2 National differences in Political Economy Political economy - the political, economic, and legal systems of a country Political system - a system of government in a nation. It can be assessed by collectivism vs. individualism, and democratic vs. totalitarian. Collectivism - a political system that emphasizes collective goals over individual goals Socialism - a political philosophy advocating substantial public involvement, through government ownership, in the means of production and distribution Communists - those who believe socialism can be achieved through revolution and totalitarian dictatorship Social democrats - those committed to achieving socialism by democratic means Privatization - the sale of state-owned enterprises to private investors Individualism - an emphasis on the importance of guaranteeing individual freedom and self- expression. It translates into an advocacy for democratic political systems and free market economies. Democracy - government is by the people, exercised either directly or through elected representatives Totalitarianism - one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties Communist totalitarianism - a version of collectivism advocating that socialism can be achieved only through a totalitarian dictatorship Theocratic totalitarianism - a political system in which political power is monopolized by a party, group, or individual that governs according to religious principles Tribal totalitarianism - a political system in which a party, group, or individual that represents the interests of a particular tribe (ethnic group) monopolizes political power
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Chapter 2 notes - Chapter 2 National differences in...

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