NATIONAL DIFFERENCES IN POLITICAL, ECONOMIC, AND LEGAL SYSTEMS (Vocabulary)

Key vocabulary terms from the notes on political, economic, and legal systems.

Collectivism

A political system that stresses the primacy of collective goals over individual goals, often restricting individual rights for the good of society.

Individualism

A philosophy that priority should be given to individual freedom and self-expression, with society’s welfare served by pursuing individuals’ own economic self-interest.

Democracy

A political system in which citizens participate in decision making, with constraints on the executive and protection of civil liberties.

Totalitarianism

A system in which constitutional guarantees are denied, political repression is widespread, and free elections and civil liberties are limited.

Pseudo-Democracies

Countries that are between pure democracies and pure totalitarian states, with elections but also significant authoritarian elements.

Socialism (broad camps)

An ideology that split in the early 20th century into two camps: communists who favored violent revolution and dictatorship, and social democrats who sought socialism through democratic means.

Communism

A camp of socialism advocating socialist goals achieved through violent revolution and totalitarian rule.

Social Democracy

A camp of socialism advocating achieving socialism by democratic means, without dictatorship.

Market Economy

An economy with private ownership where production is guided by supply and demand, and prices signal production decisions; consumers are sovereign.

Command Economy

An economy where the government plans production and ownership of most enterprises, allocating resources for the public good.

Mixed Economy

An economy that combines private ownership with significant state ownership and planning, varying by country.

Common Law

A legal system based on tradition, precedent, and custom; judges interpret and establish precedents, allowing flexibility.

Civil Law

A legal system based on detailed codes; judges apply codified law with less emphasis on interpretation of precedent.

Theocratic Law

A legal system where law is based on religious teachings, often prominent in Islamic law derived from the Koran and Sunnah.

Private Action

Violations of property rights by private individuals, such as theft or piracy, often more prevalent where the legal system is weak.

Public Action and Corruption

Corruption by public officials, including extortion or illegal actions, which can be legal mechanisms or illegal acts.

Intellectual Property

Property derived from intellectual activity, protected by patents, copyrights, and trademarks to incentivize innovation and creativity.

Patents

Exclusive rights granted for a defined period (commonly 20 years) to manufacture, use, or sell an invention.

Copyrights

Exclusive rights of authors and creators to publish and distribute their work.

Trademarks

Officially registered marks and names by which products are designated and differentiated.

Product Safety and Product Liability

Laws setting safety standards and liability for injuries or damages, including civil and criminal liability; enforcement varies by country.