Democracy Essay Example | Topics and Well Written Essays - 1500 words

Democracy - Essay Example Mostly the leader is on a self-satisfaction role. Second, an oligarchy which is a form of rule whereby authority is vested to individuals of the same family on the grounds of economic or financial might. Under modern classification there exist a number of different types of regimes as suggested by Tilly (2007). These are: First dictatorship which is a regime under the principle, one country, one state, one ruler. A single individual has all the powers with no other individual or body to challenge his powers. There exists a single political party under such leadership. The merit of such leadership is that decision making process is fast because the stage of consulting is not there or is minimal. The disadvantage is the oppression of people’s opinions and misuse of power by the dictator. Dictatorship is mostly encouraged when there is obsequiousness by the public on a certain leader or ignorance on the part of the electorate on another form of leadership. The electorate should b e sensitized on different leadership styles and many parties should be given a platform for their formation so as to give the public diverse ideologies to choose from. Second, democracy is basically ruled by the people, by the people and for the people. The advantages of such rule are that priority is given to the needs of the people. Leaders are chosen by the people and work on their demands. Many political parties with divergent ideologies strengthen democracy whilst one party system weakens it. The existence of many political parties increases the cost of selling the party's ideology to the people and the election process. Federalism This is basically the principle of giving powers to diverse bodies and such like institutions. These bodies have the capacity to govern independently. The central government strictly deals with authority in security as well as alien policy though these bodies can have worldwide responsibilities. Federalism emerged due to the desire to avoid centraliz ed rule. The scholars associated with federalism pushed for autonomy and diversity in administration, policy making and resource use. They disagreed on the arrangement of having a single unit possessing all this authority. Federalism thus takes away excess powers from a single unit to avoid misuse and inefficiency and distributes it to other units. In most cases this encourages growth. Federalism should be more encouraged especially in states where power seems to be given to a single institution or ruler. Such a situation has made it very easy for there to be a misuse of authority or oppression of the minorities. One of the institutions that could be easily used to allocate powers to different institutions and check these powers is the judiciary. It translates according to the constitution what powers each and every body should posses thus promoting federalism. In most instances parliaments, if given too much power, discourages federalism. This is when it makes bills and without muc h consideration to what the public desires passes this bill into law. Equal Opportunity Equal opportunity means the scraping off of those legislations that would probably bring about discriminations. These might be in the political field, economic or social. In the past political undertakings were strictly reserved for men. They occupied policy-making offices as well as implementation and administration. Women never got the chance to have a say. In a society that has equal chance ideologies; several factors must be visible in the guidelines guiding such equal chance policy. First there must be the range into which policies made pertain to. Second the deeds to be explored must be laid out. Third ways of putting into operation the guidelines as well as those in charge Last

Description of economic crisis and discussion of outcomes Essay

Description of economic crisis and discussion of outcomes - Essay Example The mortgages taken by banks were financially engineered to create securities and trading was allowed on the same. Eventually, corporations from all over the world took exposure in such credit assets. On the maturity of their tenure, most of the customers failed to repay their loans. This was bound to happen, because these sub-prime customers never had the financial capability to finance their obligations. The banks sold off the mortgages to make up the losses suffered due to the non repayment of the loans taken by the customers. However, contrary to the earlier business forecasts prices of real estates decreased considerably. This translated into banks obligations, it meant that the companies who had an exposure in those toxic assets suffered huge losses, being unable to recover their investments as most of the mortgages were being traded in the form of securitized investment vehicles and collaterised debt (Credit crisis: More sub-prime bad news, November 6, 2007) Subsequently, the baneful effect of these transactions spread all over the world. The domino effects hit most of the developed countries financially. Consequently, investors got panic stricken and started withdrawing their investments from equities and other risk bearing investments. It led to a crash in the major stock indices globally. The pronounced effects of the crisis became evident due to the tightening of credit flow in the economy. A lack of capital halted the production activities and dampened the buying attitude among consumers all over the world. The credit crisis had spiraled into an insolvable puzzle due to the imbalance caused in the basic demand supply equations. All this have gripped the minds of global citizens with fear and apprehension of a pandemonium in their lives. The government of almost all the countries is acting in unison to combat the fear of the citizens. The credit crisis has built fear