IB 150 Lecture Notes - Lecture 4: Invisible Hand, Totalitarianism, Quran
31 May 2017
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Document Summary
National differences in political economy and legal systems. Us and others have democracies, china is communist, england is a monarchy. The interaction between the political, economic, and legal systems of a country, which affects the level of economic well-being of the country. Political systems can be assessed according to two dimensions. Degree to which they emphasize collectivism as opposed to individualism. Degree to which they are democratic or totalitarian, ex: north korea is a dictatorship. These dimensions are interrelated; systems that emphasize collectivism tend toward totalitarian, while systems that place a high value on individualism tend to be democratic. However, a large gray area exists in the middle. It is possible to have democratic societies that emphasize a mix of collectivism and individualism. Similarly, it is possible to have totalitarian societies that are not collectivist. A political system that stresses the primacy of collective goals over individual goals. Advocate by plato (427-347 bc) in the republic .
