Political Factors

Political economy uses state power to decide

how public goods are distributed and addresses
the allocation scarce resources among Legal Factors
individuals
Economic Factors
Political Economy
Political Economy vs International Economy:

Political will be interacted by policy makers and

interest groups.

While international is interacted by sovereign

states and international

Socialism can only be achieved through

Communism violent revolution and totalitarian
Collective goals > Individual goals
dictatorship
Collectivism
By Plato Socialism (xã hội chủ nghĩa)
Social
Democrats
Socialism combines with market
(Chủ nghĩa
Philosophies economy
dân chủ xã
hội)

Collective goals < Individual goals

Individualism
By Aristotle

citizens directly participate in decision-making processes

rather than electing representatives to make decisions
Direct Democracy
Switzerland
Members of society take part in a political
Democracy
process to elect representatives Citizens elect a representative to make decisions on
national issues
Representative Democracy
United States

Types of Systems Tribal

Political System Communist China

religious leaders holds political power and the state's

A political system in which one party has legal system is based on religious law
Chapter 2: National Totalitarianism Theocratic
differences in Political total political power
Economy Iran

a single ruling leader, often with strong nationalist and

conservative ideologies, exercises complete control over
all aspects of public and private life.
Right-wing totalitarianism
Russia

Owned by private sectors

Market economy Freedom to start business USA

Supply & demand

Types of economy Mix economy China

Owed by government

Command economy Price control North Korea

Government regulation

Based on tradition, precedent, custom UK, US

Common Law
Contract law tends to be very detailed

Based on a very detailed set of laws Russia, Vietnam, France,

Encompasses rules governing behavior,
organised into codes Japan
enforcement processes, and mechanisms for
Legal System Civil Law
addressing grievances. It is shaped by the
prevailing political system. Contract law tends to be much shorter
because it was recorded in the codes

Theocratic Law Based on religious teaching Iran, Saudi Arabia

Product liability involves holding a firm and its

officers responsible when a product causes
injury, death, or damage

Property Protection
Copyrights
Intellectual property - property that is the
Can be protected using: Patents
product of intellectual activity
Trademarks