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lecture notes for stacks

National Political Economies Where international business happens
What is political economy political, economic, and legal systems of a country *** emphasis on the connection between the three, related to the state
What is a state? country nation state nation state
Country geographical entity, defined by physical borders
Nation community of people who share common attributes culture heritage
State political/gov systems of a geographical entity - independent sovereign
Nation state a nation that exists with a state
Other geopolitical units empire, confedercay, federation , city state, multinational state
POlitical spectrum collectivist, individualist, right vs left, nolan chart
Collectivist putting the community above the individual, communism
Individualists the individual as first, anarchy liberal democracy liberal - less gov control
right versus left right = conservative, republican, maintain the status quo left - liberal, demoncrat, interested in changing
Nolan Chart ******** spectrum for right versus left, collectivist and individualist
Systems of Government Autocracy, Polyarchy
Autocracy where all power is put into a single person, sovereignty, very hard to achieve in its purest form
Polyarchy ruler-ship invested into more than two individuals.
Oligarchy rests in more than two people but now a denimocracy, simplist form of polyarchy, example is an aristocracy, group of small elites who run government, can be a birth rite, most governments are this even if there is a dictator
ameritocracy rule of someone who has achieved a certain thing aka military service, conditional,
Plutocracy ruled by the wealth, can be a hybrid of other types of systems of government
Technochy Based on technology knowledge, more knowledge the higher the rank of the person
Democracy ruled by all the people, the rest of the world moved towards this after WW2, right for people to rule themselves, hard to achieve in the purest form
Direct democracy each person gets one vote (better for small countries)
Representative democracy Representative for your vote like the US system
Political systems: authoritarian political system that emphasizes control, absolute control on what you do
Totalitarian Authoritarian type, total control over society, more control in government either in auto, poly or democratic
Despotic authoritarian - concentration of control, no despotic democracy - control in one entity either oligarchy, poly, or auto
Anti- Authoritarian Liberal, libertarian, anarchic
Liberal - less social control and economic control
Libertarian less than liberal in saying less social and economic control by the government
Anarchic no government what so ever, lack of government
Capitalism owned by individuals
Socialism Collective ownership on the means of production. If the state owns something that means it is partially socialist
Economic systems market economy command economy mixed economies privatization nationalization deregulation
Market Economy What is produced is determined by supply and demand price determined by the market
Command Economy What is produced is determined by the state or a higher entity also how much you charge for
Mixed Economy Market and Command
Privatization taking something that is state owned and making it private, the selling of airlines to private companies
Nationalization the act of making something private into nationally funded or part of the state
Deregulation the more deregulation the more it is a market economy, the more regulation the more command economy
Legal Systems (book definition) What law is and how to apply it
Common Law A system based on case law based on legan precedant determined by judges, goes back to british law - Judges do not make the law
Civil Law laws are based on code not judges, judges only interpret the law
Common Law Traits more room for interpretations, contracts are longer and more precise - based on the legal precedent or the opinion of the judge
Civil Law Traits more restricted on what you can and can't do based on the fact that laws are in code - Roman, Germanic, Napoleonic
Theocratic law religious law, (islam, hindi etc) still sometimes has aspects of civil or common law even though it is theocractic
Political Risk Stablilty, revolution, corruption, policy changes
Economic risks ______ *** look in book
Legal risks contracts
Common law fiction Basic legal fiction in common law judges dont make the law, any common system requires the judge to make the law
Civil law fiction judges only implement the law, at the heart of civil law all laws are codified - impossible if new inventions or situations arise
Contract a document that specifies the conditions in which a deal is to occur with the restrictions or obligations to each party
CIGS Contracts for the Internation Sale of Goods
Property Rights
Private Action theft, infringements on property rights by an individual or group
Public Action The extortion of income or resource of property holders by public officials
Intellectual Property Products of the mind such as computer software a screenplay a music score or chemical formula - protected by copyright, trademarks, or patents
Patent grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use or sale of that invention
Copyright The exclusive legal rights of authors composers writers etc - gives them the right to publish and distribute
Trademark designs and names often officially registered b which merchants or merchandisers distinguish different brands
Paris Convention for the protection on industrial property international agreement to protect intellectual property
Product safety laws safety standards that products must adhere to
Product liability holding a firm or company responsible for the harm of their product
Purchasing power parity how much your dollar will get you - adjustment in the cost of living GDP
Human Development Index UN's assessment on living standards in a country
Created by: AMiC4353



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