In: Economics
what was regime change
regime change is change of government in a state or country. Regime means a corporate body or organization having specific authority. In economics, therefore, regime change means change in organizational structure either through legislation, election and consensus mechanism. Broadly it is replacement of government that controls the entire economy of a nation. The key purposes of changing the government are to implement the new decision making process in economy, business, taxation and other activities and frame new legislations.
Regime change does not necessarily mean change in government. It can also happen at micro level i.e., in social organizations such as community centers, healthcare units and others. There are three ways of regime change i.e., democratic, military coup and foreign intervention. The democratic way of regime change is change of government or administration through democratic process i.e., election. Military coup is the overthrow of a democratically elected government by military of a country. It usually happens in countries where military enjoys unlimited powers. The foreign intervention to change a regime is military and economic intervention of powerful nations against a country that violates the international treaties on nuclear non-proliferation and trade.