National Difference in Political Economy
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each of the black spaces below before clicking
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| Political economy | show 🗑
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| show | the system of government in a nation
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| Collectivism | show 🗑
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| show | advocates state ownership of the basic means of production, distribution, and exchange
manages to benefit society as a whole, rather than individual capitalists
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| show | Communism
Social Democrats
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| Communism | show 🗑
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| Social Democrats | show 🗑
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| show | philosophy that an individual should have freedom in his own economic and political pursuits (Aristotle) (individual diversity and private ownership are desirable) (democratic political systems and free market economies)
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| Democracy | show 🗑
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| Representative democracy | show 🗑
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| Totalitarianisn | show 🗑
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| Types of totalitarianism | show 🗑
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| show | found in states where the communist party monopolizes power
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| show | found in states where political power is monopolized by a party, group, individual that governs according according to religious priciples
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| Tribal totalitarianism | show 🗑
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| Right-wing totalitarianism | show 🗑
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| Countries with individual goals | show 🗑
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| show | state-ownership is common
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| show | Market economies
Command economies
Mixed economies
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| Market economies | show 🗑
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| show | gov. plans the goods and services that a country produces, the quantity that is produced, and the prices as which they are sold:
businesses state-owned, gov. allocat resources "good of society"
tend to stagnate
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| Mixed economies | show 🗑
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| Legal systems | show 🗑
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| Legal system importance | show 🗑
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| show | Common law
Civic law
Theocratic law
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| show | based on tradition, precedent, and custom
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| Civic law | show 🗑
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| show | law is based on religious teachings
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| Contract | show 🗑
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| Contract law | show 🗑
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| show | tend to be very detailed with all contingencies spelled out
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| show | tend to be much shorter and less specific because many issues are already covered in the civil code
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| United Nations Convention on Contracts for the International Sale of Goods | show 🗑
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