GMS400: Form Of Government

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Week 1 – GMS400 FORMS OF GOVERNMENT Governance of a Nation * States (nations) are governed by a continuously changing succession of people who have different roles for creating and enforcing laws (rules). Sometimes the “rulers” or legislators (people in political power) are hereditary, some come from a small cadre of elite or a dominant political party, and some are freely elected. * Republic – president; Head of State of Canada- Queen Elizabeth II and governor general: David Johnston? We elect the party and they personally elect the prime minister but we not actually elect them. Monarchy - oldest * Kingdoms, Sultanates, Emirates (examples?) * Absolute monarchy - a form of government where the monarch rules unhindered (absolute…show more content…
Executive: usually the head of state; approves the laws – Pres. Barack Obama in USA 3. Judicial: interprets and enforces the laws Capitalism versus Socialism * Both are economic systems, NOT forms of Government. * Definition: Capitalism is an economic system that emphasizes private ownership of the means of production or a privately controlled economy. In a capitalist society, you have a free market and companies live by the profit motive. They exist to make money and maximize the wealth of their shareholders, whether they have one shareholder or thousands. Prices, production, and the distribution of goods are determined by competition in a free market. * A capitalist system is also called a market economy. There is a limited regulatory framework. Legislation is supposed to define and enforce the basic rules of the free market. The government does provide some public goods and services as well as support. * Under this system, small businesses drive the economy. They provide most of the jobs - up to 70-80%. Large corporations provide most of the profit, but small businesses are the job creators. * Definition: Socialism is an economic system in which property is held in common and not individually, and economic relationships are governed by a political hierarchy. (Syria,…show more content…
(always demonstrations when they meet) * Bank of last resort: countries in trouble have no other option * Lends money rather than gives money (countries that it helps already have too much debt) * In order to get a loan, the country must often make sweeping changes, like not subsidizing food * Viewed as the rich countries dictating to the poor countries The Washington Consensus * A conspiracy theory * World Bank, IMF and US government are all headquartered in Washington * US “big businesses” run the US government, which in turn controls the IMF and World Bank (voting rights depend on how much financing each country puts into the WB and IMF; based on GDP – the USA puts in the most financing and therefore has the most power) * Consequently, some people think big American companies control the policy and the fate of poor countries; for example, all economies should be strictly capitalist **International rule maker for fair trading World Trade Organization (WTO) * The only international organization dealing with trade between nations on a global scale * Location: Geneva, Switzerland Established: 1 January 1995 Created by: Uruguay Round negotiations (1986-94) of the

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