How to Compare Economic & Political Systems
Comparing economic and political systems enables you to gain a broader perspective on world politics and economics. By describing, comparing and contrasting the characteristics of different systems, you have a framework for understanding a broad range of political and economic issues. In addition, such comparisons build your knowledge of the government and economy of your own country.
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Instructions
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Read about the basic characteristics of different political and economic systems. Understanding the basic features of capitalism, socialism, democracy, totalitarianism and other political and economic systems provides a framework for understanding the similarities and differences among real-world systems seen in nations around the world. "The Oxford Companion to World Politics" is an excellent reference source. The online Historical Atlas of the 20th Century is another good source.
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Select the dimensions or characteristics of the political and economic systems that you wish to compare. You may, for example, wish to compare structures of governments, gross domestic product (GDP) growth, government spending as a percentage of GDP, or types of government spending. Choosing a few characteristics gives your comparison focus and depth.
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Select two or more countries with differing economic systems or governments as the basis for an empirical comparison. Empirical analysis, an approach based on facts, allows comparison of economies and governments by using examples drawn from the real world. For example, examining the United States and North Korea will enable you to compare a democratic republic with a communist dictatorship. In economic terms, this example compares market-based capitalism with socialist central planning.
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Research the information that will enable to you to compare the political and economic systems of the countries you select. The CIA World Factbook is an excellent online source of information about the societies, governments and economies of nations around the world. A drop-down menu on the main site enables you to select a country, which will open a series of headings on that country's geography, government, economy, and more. These headings can be expanded to provide an overview of a country's political system, as well as economic information such as overall GDP, per capita GDP, labor force composition and much more. The CIA World Factbook also has presorted lists that compare the nations of the world on such variables as GDP, inflation and unemployment. Click on the "Guide to Country Comparisons" link, which will take you to these lists.
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Construct a chart or outline comparing and contrasting the political and economic characteristics that form the basis of your study. Doing this will help you structure any report or presentation.
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Tips & Warnings
Note similarities, as well as differences, among the political and economic systems you compare. Real-world political and economic systems will rarely match exactly the characteristics from your reference materials. Make note of this during your research.
