Individualism refers to a philosophy that an individuals should have freedom over their economic and political pursuits. In contrast to collectivism, individualism stresses that interests of the individual should take precedence over the interests of the state.
Can be traced to Aristotle who argued that individual diversity and private ownership are desirable.
Individualism is built on two beliefs:
The first belief is an emphasis on the importance of guaranteeing individual freedom and self-expression.
The second belief is that the welfare of society is best served by letting people pursue their own economic self-interest, as opposed to some collective body (such as government) dictating what is in society’s best interest.
zil. Many social democratic governments after World War II try to implement state-owned enterprises to be run for the “public good rather than private profit”, however in many countries state-owned companies performed poorly. Therefore Many state-owned enterprises failed to succeed, and today, many nations are implementing privatization programs.
Remarks: Privatization refers to the sale of state-owned enterprises to private investors.