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Globalization (Benefits (Foreign investment funds; support economic…

- - - - Demands government to cut spendings
      - Devalue their currency
      - Increase exports
      - Liberalize financial markets; reduce wages
      - e.g. Greece
- - - - Assets that a person
        accumulates/owns at a point in time
    - - How much a person earns in a day/year
- - - - Presence of political freedom
      - Features
        
        Independent Media
        
        Separation of Power among
        the Arms of Government
        
        Fair Elections
        
        Open society
    - - Repressive regimes ruled by dictators,
        exercise total power through armed forces
      - Rights of citizens to organize for
        cultural/religious freedom is restricted
  - - - Economic power is concentrated in the
        hands of government officials & political authorities
      - Central government owns property that
        produces goods & services
      - Private ownership: Forbidden/Greatly restricted
        Private market:Illegal
    - - Score to indicate how much
        economic freedom the country has
    - - Based on voluntary association & exchange