International Issues

In: Business and Management

Submitted By borusas
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Political influence on a country’s economic development: According to the book “Global Business Today” there is many debates about which political systems are better for the economy development. There are two types of political systems: autocratic and democratic systems. Autocratic system is described as totalitarian regime, where one person is in power and citizens don’t have free voice, equal rights. The best examples of dictatorship countries are Asia, Latin America and also Soviet Union. The positive side of this king of political system is that totalitarian regime with use of strong protection of property rights leads to economic growth. However, there are no guarantees that this system would allow growing for long time. It is very risky and unpredictable. This political system forgets human rights, which is not good for the country, because to develop successfully citizens have to feel safe and free. The other political system is democratic, where human rights are at the top and citizens have free voice. Most of the Western countries adopted the democratic system. This system is more committed to free market capitalism, where is less government control and more role of free market. The most world’s strongest countries like Poland and many other countries where democratic system was implemented helped the country successfully developed economically. Economic influence on a country’s economic development: Two main steps in the economic system are deregulation and privatization. Deregulation is the elimination of regulations and trade barriers. As the result, first it increases competition between businesses internationally and second it increases the level of trade in the whole world. Looking specifically to the country’s abilities, it provides more opportunities for country’s firms abroad. The removal of price control, allows freely set up prices based on…...

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