Political systems

Notes on 3/2/17

COUNTRY DIFFERENCES

Political economy of countries:

To have a long term business between two business companies, they should initially discuss about the difference among them

.

Politics: There are two sciences, one is pure science which could be quantify and provable and other is social science which is not constant such as values, belief etc.

Based on Ideology, politics are classified into 3 types

1. Individualism
2. Collectivism
3. Socialism

Individualism:

• ·     Which is defined as a social theory favouring freedom of action for individuals over collective or state control
• ·         Recognizing each person unique from other and it is preferred because it leads to innovation, growth and development
•      It is base for Capitalism
• ·         Countries like USA, Germany are following Capitalism.
• ·         Negative impact of capitalism is the gap between people is maintained such as rich will  rich and poor remains poor.

Collectivism:

• ·         Collectivism raise to the Communism is the idea that the individual’s life belongs not to him but to the group or society of which he is merely a part, that he has no rights, and that he must sacrifice his values and goals for the group’s “greater good.”
• ·         Countries like China and Russia follows the communism
• ·         Russia stood for the failure of communism and China is successful because it separate the politics and economics.

Socialism:

• ·         Socialism  is characterised by social ownership and democratic control of the means of production, which may mean autonomous cooperatives or direct public ownership; wherein production is carried out directly for use. It is mix of both capitalism and communism.
• ·         Eg: India

After Independence India joined the non align movement with lineage to USSR. In 1976 , the preamble to constitution of  was amended to read sovereign  'socialist' secular democratic country  .However due to economic crisis and on the verge of being bankrupt, India had to make massive changes .The then Prime Minister , P.V Narisima Rao along with his aides embarked on to the polices of liberalization .Since then India has been able to maintain a good growth and is prospering. 

BY

G.SWETHA

161121