Political & Economic Change in Development

Privatization protects national interests, while nationalization encourages competition.

Privatization transfers state-owned enterprises to private owners, while nationalization transfers ownership from private organizations to the government.

Privatization regulates the economy, while nationalization cuts government spending.

Privatization promotes social welfare, while nationalization increases efficiency.

Plurality system

Majority run-off system

Single transferable vote

First-past-the-post

Imposing stringent censorship on all forms of media to prevent foreign influence.

Implementing regulations that protect domestic industries without significantly restricting individual freedoms.

Completely closing its borders to trade, travel, and communication with other nations.

Nationalizing key industries and eliminating private enterprise.

Many developing nations undergoing SAPs actually offer stronger legal protections and intellectual property rights to attract foreign direct investment (FDI) from TNCs.

Industrialized nations are generally less impacted by global economic fluctuations, thus rendering them immune to outside business influence.

TNCs find it easier to exploit weak regulatory environments and available cheap labor in developing countries implementing SAPs to maximize profit margins.

The threshold for entry into developed markets is higher, giving local firms a comparative advantage and preventing excessive TNC penetration.

Each would equally prioritize environmental standards over economic gains derived from participating in the global marketplace.

Both systems would readily adopt universal basic income as a means of addressing job displacement due to globalization.

Both are likely to nationalize key industries under threat from international competition for greater state control over the economy.

Authoritarian capitalism may impose restrictive trade policies favoring certain sectors, while liberal democracies stress free trade agreements.

Technological advancements

Different political systems and institutions

Public opinion and demands

International trade agreements

Proportional representation with closed lists

Cumulative voting

Plurality single-member district (FPTP) system

Single transferable vote

Proportional representation

Majoritarian

First-past-the-post

Single-member districts

Increase regulation and state intervention in the economy.

Fully embrace free-market capitalism.

Privatize all state-owned enterprises without regulations.

Eliminate all social welfare programs to reduce spending.

Negotiating trade deals that favor developed countries' economies.

Providing education and training programs to improve workforce adaptability.

Increasing tariffs on imported goods to protect domestic industries.

Privatizing state-owned enterprises to increase economic efficiency.