In: Economics
Think about the two dimensions used to describe political systems: Collectivist-Individualist and Democratic-Totalitarian. Please provide some examples of what might describe a collectivist system - where does Canada’s national healthcare system put it? Which countries might be considered democratic?Where should China be placed? Offer some other examples of your own.
Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth.Please discuss.
What is the relationship between corruption in a country (i.e., bribe- taking by government officials) and economic growth? Is corruption always bad?
Why do countries trade with each other? What would happen if countries did not trade with each other?
What is the relationship between property rights and economic progress? How important are ant corruption efforts in the effort to improve a country’s level of economic development?
Please introduce a relevant current events story from the news, provide a link to the story, a proper citation and your comments, summary or interpretation of the story and its relevance to our studies this week.