Chapter 14 Government and Economy Economic System Capitalism o o Owners determine production based on competition o The pursuit of profit is the reason for distributing goods and services Individuals own the means of production Socialism o The public owns the means of production o Central committees plan production no competition o No profit motive in the distribution of goods and services Industrial society society that depends on mechanization to produce their goods and services Soviet Style Socialism Socialism a preparatory step toward communism Convergence of Capitalism and Socialism Convergence theory capitalism and socialism growing similar o US unemployment compensation subsidized housing welfare o China private ownership of property making profit is encouraged The Chinese Economy Today Growing free market economy brought significant inequality to Chinese workers Chinese capitalists now have to compete with multinational corporations By 2009 the Chinese were buying more automobiles than people in the US Power and Authority society s goals Political system social institution responsible for implementing and achieving o Interacts closely with economic system social institution thorough which good and serviced are produced distributing and consumed o Politics who gets what when and how Power ability to exercise one s will over others Weber o Coercion illegitimate power o Authority legitimate power Types of legitimate power or authority o Traditional authority power is legitimated by ancient custom o Legal rational authority power is legitimated by explicit rules and procedures the define rights and obligations o Charismatic authority power is legitimated by the unique and remarkable qualities that people attribute to a specific leader Types of Government Monarchy form of government headed by single member of royal family Oligarchy form of government in which a few individuals rule Dictatorship government in which one person has nearly total power to make and Totalitarianism involves virtually complete government control and surveillance over all aspects of a society s social and political life Democracy Political system giving power to the people as a whole US Canada enforce laws etc o Direct democracy city states o Indirect representation democracy High levels of personal freedom Permits the population a significant choice in decision making though the people s right to choose among contenders for political office Allows for a broad relatively equal citizenship among the populace Affords the citizenry protection for arbitrary state action
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