Property rights refer to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.

One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest. The benefits, costs, and risks associated with doing business in a country are independent of that country’s political, economic, and legal systems.

What is one of the tenets of individualism? The welfare of society is best served by allowing individuals to follow their own economic self-interest.

totalitarianism

True individualism is a social theory that says that individuals cannot be properly understood without understanding the social processes that surround him. As people make individual decisions they contribute to a social order that is not the result of human design.

Individualists believe that each person should be able to take decisions and actions independently. Individualism is essential for the personal development of each individual, which in turn leads to economic benefits for society.

The relation between individual and society is very close. Essentially, “society” is the regularities, customs and ground rules of antihuman behavior. These practices are tremendously important to know how humans act and interact with each other. Society does not exist independently without individual.

The rule of law thus promotes individualistic social orders that free people from dependence on such networks of strong ties to survive. Furthermore, the degree of a nation’s political stability is positively linked to general trust in countries with a firm rule of law, but not in countries with a weak one.

Individualistic values, on the other hand, favour the interests of the individuals over the interests of in-group as well as out-group members; they therefore value the independence, self-reliance and self-realization of the individual over communal, societal, or national interests2.

More often than not, discussions about ethics in organizations reflect only the “individualistic approach” to moral responsibility. According to this approach, every person in an organization is morally responsible for his or her own behavior, and any efforts to change that behavior should focus on the individual.

Collectivist Societies Having strong families and friendship groups is important in these societies and people may sacrifice their happiness or time for the benefit of someone else or for the greater good of a group. Countries such as Portugal, Mexico and Turkey are examples of collectivist societies.

The Philippines, with a score of 32, is considered a collectivistic society. This is manifest in a close long-term commitment to the member ‘group’, be that a family, extended family, or extended relationships. Loyalty in a collectivist culture is paramount, and over-rides most other societal rules and regulations.

Mina Ramirez, President of Asian Social Institute, shared with us five core values that Filipinos have which we can utilize to make us change for the better. These are Mapagpasalamat, Matatag, Masigasig, Mapagmalasakit and Magalang.

The members of the Filipino society value masculinity. The dominant gender of their society is the masculine gender. Males are authorized to make decisions and lead their lives. The power is bestowed on the male member of the family who decides and makes important moves.

These five dimensions include power distance, uncertainty avoidance, individualism or collectivism, masculinity or femininity and long-term orientation [2].

The culture of the Philippines comprises a blend of traditional Filipino and Spanish Catholic traditions, with influences from America and other parts of Asia. The Filipinos are family oriented and often religious with an appreciation for art, fashion, music and food.

Economy of the Philippines

China, Malaysia, India, Vietnam, Ethiopia and Uzbekistan are among the countries that made the list. But not the Philippines….India And The Philippines Will Beat China Over The Next Decade.

The Philippines also suffers major human-caused environmental degradation aggravated by a high annual population growth rate, including loss of agricultural lands, deforestation, soil erosion, air and water pollution, improper disposal of solid and toxic wastes, loss of coral reefs, mismanagement and abuse of coastal …