Assertion (A) >: The emergence of economic globalism does not imply the decline of socialist ideology. Reason (R) >: The ideology of Socialism believes in universalism and globalism. In the context of the above two statements, which one of the following i

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Q: 92 (IAS/1997)

Assertion (A): The emergence of economic globalism does not imply the decline of socialist ideology.
Reason (R): The ideology of Socialism believes in universalism and globalism. In the context of the above two statements, which one of the following is correct ?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,104,101,104,37,53,11

keywords: 

{'socialist ideology': [0, 1, 0, 0], 'economic globalism': [0, 1, 0, 0], 'ideology': [1, 1, 2, 4], 'socialism': [1, 0, 1, 1], 'globalism': [0, 1, 0, 0], 'universalism': [0, 1, 0, 1]}

Explanation:

Option 1 states that both A and R are true and R is the correct explanation of A. This is the correct answer. Economic globalism, the process of integrating nations economically through free trade, multinational corporations, and global markets, doesn`t necessarily lead to the decline of socialist ideology, which promotes a system where wealth and power are shared and the means of production are owned and controlled by the state or the workers. This is because socialism believes in universalism and globalism. Hence, despite the emergence of economic globalism, the socialist ideology could still uphold its principles on a global scale.

Option 2 is incorrect because R is indeed a correct explanation of A.

Option 3 is wrong as both A and R are true.

Option 4 is also incorrect as both A and R are true.