Individualism o Individualism A philosophy that an individual should have

Individualism o individualism a philosophy that an

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Individualism oIndividualism: A philosophy that an individual should have freedom in his or her own economic and political pursuitsStresses that individual needs to be ahead of the interest of the state oIndividualism is built on 2 central tenants 1: Emphasis on the importance of guaranteeing individual freedom and self-expression2: The welfare of society is best served by letting peoplepursue their own economic self-interest, as opposed to acollective body ( A Government) dictating what is in society’s best interest °Democracy vs Totalitarianism °°DemocracyDemocracy: A political system in which a government is by the people, exercised either directly or through elective representatives Representative Democracy: citizens periodically elect individuals to represent them oSafeguards to help ideal representative democracy Individuals right to freedom of expressionFree mediaRegular elections in which all eligible citizens are aloud to voteUniversal adult suffrage Limited terms for elected representatives Non-political state bureaucracy Relatively free access to state information°Totalitarianism Totalitarianism Form of government in which one person or political party exercises control absolute control over all spheres of human life and prohibits opposing political parties
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4 types of totalitarianism oCommunist Totalitarianism: oTheocratic Totalitarianism:States where political power is monopolized by a party, group, or individual that governs according to religious principlesLimit freedom of political and religious expressions oTribal Totalitarianism Political party that represents the interests of a particular tribeMost commonly found in AfricaoRight-Wing Totalitarianism Permits so form of economic freedom but restricts individual political freedom, afraid it will lead to communism Will have a overt hostility to socialist and communism ideasCommon regimes include Germany and Italy in World War 2°Economic Systems°°Market EconomyMarket Economy: all productive activities are privately owned as opposed to being owned by the state oMain feature is that supply must not be restricted oThe goal is to encourage vigorous free and fair competition between private consumers°Command EconomyThe government plans the goods and services that a country produces, the quantity in which they produce, and the prices at which they are sold oThe goal is for the government to allocate resources for “The good of society”oThe idea is to mobilize economic resources for the public good
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Leads to lower incentive to control cost or innovate °Mixed EconomyWhere certain sectors are left to private ownership and some sectors are left to state-owned ownership In mixed economies, Government tend to acquire companies that are in trouble but have to continue to operate because its vital to nations interest oExample GM & Renault °Legal Systems
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