Unit II Political Development 1
Unit II Political Development 1
Here’s a breakdown of Unit II: Political Development and Unit III: Economic
Development, with simplified explanations to make the concepts more accessible. These
notes cover the main ideas related to political systems, governance models, the birth of
economic systems like capitalism and socialism, and the evolution of development
concepts.
Political systems refer to the structures through which power and authority are organized,
exercised, and controlled within a society. These systems have evolved over time,
influenced by historical events, conflicts, ideologies, and cultural values.
There are different models of governing systems around the world, each with unique
characteristics and mechanisms of power.
1. Democracy vs. Authoritarianism:
Capitalism:
• Origin: Capitalism emerged in the early modern period (16th-18th centuries) with
the rise of trade, markets, and the Industrial Revolution.
• Core Ideas: The key feature of capitalism is private property and the free market.
Individuals and companies are motivated by profit, and wealth is distributed based
on market outcomes.
• Key Figures: Adam Smith is often regarded as the father of modern capitalism, with
his idea of the "invisible hand" of the market.
Socialism:
Marxism:
Pre-British Period:
British Period:
• Colonial Economic Policies: Under British rule, India’s economy was restructured
to serve the interests of the British Empire. Resources were extracted, and local
industries were deindustrialized in favor of British goods.
• Impact on Development: British policies hindered the growth of indigenous
industries, disrupted local economies, and created a dependence on British
imports. India’s traditional economic systems were broken down to integrate it into
the global capitalist economy.
Post-British Period:
Modern Development:
Buddhist Economics: