1. Political Economy: The political, economic and legal system of a country
2. Political system: he system of government in a nation
3. Political systems can be assessed according to two dimensions. The first is the degree to which they emphasize collectivism as opposed to individualism. The second is the degree to which they are democratic or totalitarian. (collectivismtotalitarian; individualismdemocratic)
4. Collectivism: Collectivism refers to a political system that stresses the primacy of collective goals over individual goals. (socialism, communism, social democracy)
1. Socialist: Someone who believes in public ownership of the means of production for the ...view middle of the document...
C. 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.
D. Right-Wing Totalitarianism: A political system in which political power is monopolized by a party, group, or individual that generally permits individual economic freedom but restricts individual political freedom, including free speech, often on the grounds that it would lead to the rise of communism.
7. Economic systems have 3 types: market economy (free enterprise), command economy (central planning), mixed economy (state intervention).
A. Market Economy: An economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced.
B. Command Economy: An economic system where the allocation of resources, including determination of what goods and services should be produced, and in what quantity, is planned by the government.
C. Mixed Economy
8. Three cheers or no cheers for capitalism?
9. Where is the world to be an entrepreneur
11. Legal system: common law, civil law, theocratic law-Islamic...