Political Systems
6.2 Understand political systems.
The world is characterized by three major types of political systems: authoritarianism, socialism, and democracy. Exhibit 6.4 highlights countries that exemplify these systems. These categories are not mutually exclusive. Many democracies also include some elements of socialism. Many former authoritarian regimes now embrace a mix of socialism and democracy. To address sluggish economic conditions, governments in Europe have implemented relatively socialistic policies such as nationalizing firms in the banking industry. China has applied some democratic approaches, such as land reforms and open markets, to stimulate commercial activity.
Exhibit 6.4
Examples of Countries Under Various Political ...
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