IBUS-300 Lecture Notes - Lecture 2: Totalitarianism, Collectivism, Individualism
11 Dec 2018
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Document Summary
Political economy:the political, economic, and legal systems of a country. Political system: system of government in a nation. Collectivism:a political system that emphasizes collective goals as opposed to individual goals. Socialist:those who believe in public ownership of the means of production for the common good of society. Communists:those who believe socialism can be achieved only through revolution and totalitarian dictatorship. Social democrats:those committed achieving socialism by democratic means. Privatization: the sale of state-owned enterprises to private investors. Individualism:an emphasis on the importance of guaranteeing individual freedom and self- expression. Democracy:political system in which government is by the people, exercised either directly or through elected representatives. Totalitarianism:form of government in which one person or political party exercises absolute control over all spheres of human life and opposing political parties are prohibited. Representative democracy: a political system in which citizens periodically elect individuals to represent them in government.
