MAN 4602 Lecture Notes - Lecture 3: Totalitarianism
Document Summary
Chapter 3- national differences in economic development january 25, 2016. This chapter reviewed how the political, economic, and legal systems of countries vary. The potential benefits, costs, and risks of doing business in a country are a function of its political, economic, and legal systems. The rate of economic progress in a country seems to depend on the extent to which that country has a well-functioning market economy in which property rights are protected. Many countries are now in a state of transition. There is a marked shift away from totalitarian governments and command or mixed economic systems and toward democratic political institutions and free market economic systems. The attractiveness of a country as a market and/or investment site depends on balancing the likely long-run benefits of doing business in that country against the likely costs and risks.
