Difference Between Capitalism and Socialism
Posted inGovernment & Politics

Difference Between Capitalism and Socialism

Capitalism may be defined as an economic system in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at a minimum while Socialism is an economic system where the state takes the major economic decisions through detailed planning. Countries that adopt this system do not believe in the efficacy of market forces.
Globalization: Definition, Features, Merits & Demerits
Posted inEconomics Government & Politics

Globalization: Definition, Features, Merits & Demerits

Globalization is a phenomenon based on the continuous increase in the interconnection between the different nations of the world on the economic, political, social and technological levels. The use of this term has been used since the 80s. That is, since technological advances have facilitated and accelerated international commercial and financial transactions. And for this reason, the phenomenon has as many defenders - such as the International Monetary Fund (IMF) or the World Bank - as detractors.
Problem of Federalism in Nigeria
Posted inGovernment & Politics

Problem of Federalism in Nigeria

The Nigerian federalism faces certain difficult problems including those related to census, revenue allocation, religious and inter-ethnic conflicts, allocation of public offices and the unequal distribution of wealth between different regions and between classes.
Trade Disputes
Posted inGovernment & Politics

Kleptocracy: Definition, Features, Types, Pros & Cons

Kleptocracy is a form of government which is characterized by the systematic and institutionalized theft of public funds and goods by its elites. In a kleptocracy government, rulers and like-minded elites engage in robbery in a normalized way. To such an extent that there is an institutionalization of corruption. In democracies, theoretically, the income and money obtained after government tax collection is reinvested in the form of public services.