National Differences in Political Economy
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National Differences in Political Economy
Global Political Economy
Global political economy (GPE) is an academic discipline within the social sciences that analyzes international relations in combination with political economy. Political economy is most commonly used to refer to interdisciplinary studies that draw on economics, law, and political science in order to explain how political institutions, the political environment, and the economics mix with each other.
1
Roles of History and Culture
Political Economy
•Three systems interact and influence each other •Change in one system often impacts the other systems
Political System
Economic System
Legal System
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Political Economy
Political System
Economic System
Legal System
Political Systems
The system of government in a nation Refers to formal institutions that constitute a government.
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Economic and legal systems of a country are shaped by its political system
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Political Systems
Political systems can be assessed according to two related dimensions - Degree of collectivism vs. individualism - Degree of democracy vs. totalitarianism Systems that place a high value on individualism tend to be democratic Systems that emphasize collectivism tend toward totalitarian
Collectivism
Stresses the primacy of collective goals over individual goals Needs of society are viewed as more important than individual freedoms In the modern times, collectivism has been accepted by socialists
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Individualism
Philosophy that the individual should have freedom in their economic and political pursuits Stresses the interests of the individual should take precedence over the interests of the state Emphasizes the importance of guaranteeing individual freedom and self-expression Society is best served by letting people pursue their own economic self-interest vs. government deciding Translates into an advocacy for democratic political systems and free market economies
National Differences in Political Economy
Global Political Economy
Global political economy (GPE) is an academic discipline within the social sciences that analyzes international relations in combination with political economy. Political economy is most commonly used to refer to interdisciplinary studies that draw on economics, law, and political science in order to explain how political institutions, the political environment, and the economics mix with each other.
1
Roles of History and Culture
Political Economy
•Three systems interact and influence each other •Change in one system often impacts the other systems
Political System
Economic System
Legal System
2
Political Economy
Political System
Economic System
Legal System
Political Systems
The system of government in a nation Refers to formal institutions that constitute a government.
•
Economic and legal systems of a country are shaped by its political system
3
Political Systems
Political systems can be assessed according to two related dimensions - Degree of collectivism vs. individualism - Degree of democracy vs. totalitarianism Systems that place a high value on individualism tend to be democratic Systems that emphasize collectivism tend toward totalitarian
Collectivism
Stresses the primacy of collective goals over individual goals Needs of society are viewed as more important than individual freedoms In the modern times, collectivism has been accepted by socialists
4
Individualism
Philosophy that the individual should have freedom in their economic and political pursuits Stresses the interests of the individual should take precedence over the interests of the state Emphasizes the importance of guaranteeing individual freedom and self-expression Society is best served by letting people pursue their own economic self-interest vs. government deciding Translates into an advocacy for democratic political systems and free market economies