Now, the government and economy are
also an important institutions.
So government are institutions
that have responsibility to make,
enforce and regulate
the rules of society.
So in a governing body is extremely
important and they do have a lot of power
but they also have a lot responsibility.
But how they’re set up
and how they are executed
is where they differ.
Power of the people
versus the government.
So, democracy is one way in which
all citizens participate in the government
and society can choose
Democracy be most in North America,
most of Europe
where people get to vote. Who do we want in an
office. Are we voting for this president?
or are we voting for that president?
Are we going to vote for Hillary or
are we going to go with Donald Trump?
Now, what happens is people have a say in who
they are going to choose to run their country.
Another option is Authoritarianism.
And this is where citizens have no right
or power to participate in government.
They’re pretty much told what to do.
An example of that would be
dictatorship or all the power and
authority rests with one individual.
So the citizens of that community basically
show up and do what they’re told
and the dictator decides these are the
laws, these is what we have to do.
Communism is another option.
And here it’s class-less. so there's
upper class, middle class or lower class
there's just a class-less system.
It’s a money less system
where all their properties own
by the community as a whole
and the government has considerable
power and authority.
So you don’t have a lot of say your
kind again do what you’re told.
but then there's also removal of some
responsibility. You don’t have to
work exceptionally hard to do and
to gain all of this status.
instead everybody is considered an
equal kind of it doesn’t matter whether
you’re a doctor or whether you’re a
janitor or whether you’re a lawyer,
whether you’re a shoe salesman.
You are going to be on the same level
and it’s positives are that everybody
doesn’t have to worry about things like
wealth and estate and property.
The last option that we’re going
to mention here is Monarchy.
And this is with the one family having
control and power over the government
with an appointed figurehead.
So the example that we have is in the UK.
We have the British monarchy.
And we have the queen as the figurehead,
and the family
sort of at least in the past had
more power than it does today.
But nevertheless, it’s a family that
runs everything as supposed to see
just one individual or instead
of the community voting in
a governing body to
run their country.
Okay, so let’s take a look
at two economic platforms.
One is a Capitalistic Platform
or Capitalism we called it.
and this is an economic system in which
resources and productions are primarily
privately owned versus socialist to
stance where there is an economic system
in which resources and productions
are collectively owned.
So when a Capitalistic society, you can
own property, you can own a business,
you can own a house, you can own a car,
you can attain and gain wealth.
As opposed to a Socialistic Society, the
resources and productions are collectively owned
by the community or the whole country.
So in a Capitalistic society, goods
and services are sold for profit.
And in socialistic society
private property is limited.
it’s owned by usually the
So two different systems,
two different complete stances
and you can see the differences there.
Now, let’s get into when we are
in the community where everybody has
a task or job or a role.
We say that division of labor refers
to the notion that everyone in the society
has a specific role to play.
I mean that can range from anything and
it can range from being a blue color worker
to being a professional, to
being a sports star or celebrity.
But there's an issue with that
because I think you and I both know,
there is this huge disparity
or this huge almost injustice
where teachers are making moderate
wages and we have athletes making
millions and millions of dollars a year.
So they have a role to play,
everybody has a role to play.
I think what happens in a capitalistic
society is that some of the wages earn by
each becomes slightly a skew.