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I B LEC CH 2
lecture notes for stacks
| Question | Answer |
|---|---|
| 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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