ipl-logo

Advantages Of Ibn Saudi Arabia

1192 Words5 Pages

The Kingdom of Saudi Arabia was founded in 1932 by Ibn Saud. The country has since been an absolute monarchy governed along Islamic lines. The Qur’an is declared to be the constitution of the country, which is governed on the basis of Islamic law (Shari'a). Saudi Arabia’s economy is a command economy. A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. Also known as a planned economy, command economies are unable to efficiently allocate goods because of the knowledge problem - the central planner's inability to discern how much of a good …show more content…

A free market economy is a market economy based on supply and demand with little or no government control. A completely free market is an idealized form of a market economy where buyers and sellers are allowed to transact freely (i.e. buy/sell/trade) based on a mutual agreement on price without state intervention in the form of taxes, subsidies or regulation. So, what if Saudi Arabia’s was a democratic free-market economy? First of all, the KSA needs a firm legal framework in order to function adequately. Private property should be guaranteed as well as freedom of trade, freedom of price formation, free movement of capital and labor. Private contracts must be enforced by law, rules of bankruptcy established. From the start of the transition on there must be laws against monopolization and collusion and these laws - as all others - must be enforced. This is of great importance especially at the beginning when public property is privatized. Thus all constitutional and legal regulations should be directed to promote growth and investment. When there exists an austere legal framework, curbing corruption will become much

Show More
Related
333 Words | 2 Pages

He interviewed some women in Saudi Arabia about how they are dress differently with others. They cover themselves with back cloaks and not an inch of their body were shown except their eyes. A lot of women in Saudi Arabia says they are fine with that because that’s their tradition and culture. Then, the author talked about a lack of gender equality, and he agrees if women are deserve to be given a choice for themselves. 3.

Read More
2028 Words | 9 Pages

“Faith and the Presidency: From George Washington to George W. Bush” was written by Gary Scott Smith, the book goes in depth about how presidencies brought religion to America and its government. This book was written to be read by students and scholars looking to further their knowledge about the presidents’ religious views and how they used their views in office. Gary Scott Smith is currently the chair and professor of history at Grove City College, were he graduated from in 1972 with a bachelor’s in art in Psychology. He also has his master’s in art in American History from John Hopkins which he received in 1979. In 1981 he received his Ph. D in American History from John Hopkins as well (Faculty, par.1).

Read More
3037 Words | 13 Pages

One of the major differences between capitalism and communism is who controls the resources. In a communist environment, the government has full control of resources; in a capitalist country, the resources’ are the owner’s responsibility. In the US “We, the people” have full ownership of our property; in North Korea, however, they have no real ownership of their property, the government owns it. America is a classed society, as most know as being the lower, middle, and upper classes for the poor, middle wealth, and rich, respectively. Since wealth is distributed somewhat equally in a communist economy, this system is nonexistent.

Read More
1570 Words | 7 Pages

In order to protect people’s individual rights from the corruption of

Read More
841 Words | 4 Pages

As for communism, the incentive to work an arduous job that took many years in college to obtain, like being a doctor, and having the same living conditions as a fry

Read More
928 Words | 4 Pages

This expansion of the capitalistic system lead to the rejection of communist principals (Document F), where production of goods is controlled by the state. Communist ideals were vehemently rejected by the consumers and businesses in the

Read More
524 Words | 3 Pages

Corruption, political favors and greed are still ongoing. This has been exemplified with the crash of Wall Street and the housing crash. It is important that the government make sure that people’s properties and

Read More
367 Words | 2 Pages

One of the new discoveries in this time was a type of faith called Wahhabism, which was in the newly found state of Saudi Arabia at this time. Wahhabism was a faith that lasted in Saudi Arabia for about two centuries, and was founded by Muhammad ibn Abd al-Wahhab.

Read More
936 Words | 4 Pages

The people of Arabia also had a bustling economy with the Quarysh Tribe and a banking system. Nadeem Aslam stated, Pull at thread and it 's attached to the world. The world has many threads waiting to be pulled and traced; this paper is only one thread, while others eagerly anticipate being formed

Read More
733 Words | 3 Pages

Communism builds on the idea that everyone is the same and should earn the same amount of money regardless of their profession. The most important with communism is that there should not be any class distinctions. China, Laos, Cuba and Vietnam

Read More
1502 Words | 7 Pages

Meanwhile, the theory of Communism was theoretically developed by Karl Marx and Friedrich Engels in 1848, with the writing of “The Communist Manifesto” (Heywood, Politics 41). Communism is a system in which all economics and politics are synthesized into one classless state which is most commonly associated with common ownership and people 's leadership by a political party. Although both ideologies coincide in a few aspects when in practice, Communism and Fascism feature different approaches to property and society. Similarities between Fascism and Communism First, under both despotic systems, the state controls the production system, industry, and trade.

Read More
1608 Words | 7 Pages

Saudi Arabia holds approximately 70% of youth population, these young people will be a great asset in the success of the objectives and the vision as a whole because of the amount of enthusiasm and energy they have towards change and development. Weaknesses: Since Saudi Arabia is a big country that consists of more than 30 million people, there are different cultural groups of the society, it would be difficult for diversified mentalities to be accepting of the rapid changes that are happening. Another major weakness is that Saudi Arabia suffers from the very hot weather, which could be a barrier from practicing outdoor

Read More
724 Words | 3 Pages

POLITICAL Political factors can often give a big impact on the business of a company. Often this factor is not in the hand of the organization. Several aspects of government policies can make a huge difference. However, all firls are required to follow the law. It is the responsibility of the organization to find how upcoming legislations can affect their activities.

Read More
1062 Words | 5 Pages

there exists a preferential bias for Saudi nationals in matters of employment and business. There has been a tremendous growth in GDP due to rise in revenues from oil as a quarter of the world 's oil reserves are in Saudi Arabia. There is a demand for taking measures and effective implementation towards environment regulations. The identification of major weaknesses and the government’s measures for them is helping towards the transformation of Saudi Arabia into a developed nation with a diversification of

Read More
1245 Words | 5 Pages

Every industry to include the hospitality industry is impacted by external factors which directly influence organizational behavior and decision making. There are numerous factors to be considered, but political, economic, and social are three of the most influential. These outside factors sway managerial operational decisions daily regarding personnel, spending, policy, and short-term and long-term strategic planning concerning both core and exterior operations. As within every industry, the hospitality industry has unmanageable elements that affect management or ownership of hospitality establishments (Lewis 2017). Understanding these factors is important because it provides an opportunity for contingency planning (Lewis, 2017).

Read More

More about Advantages Of Ibn Saudi Arabia

Related Topics

Open Document