State
From Wikinvestor
A state is a political association with effective sovereignty over a geographic area and representing a population. These may be nation states, sub-national states or multinational states. A state usually includes the set of institutions that claim the authority to make the rules that govern the people of the society in that territory, though its status as a state often depends in part on being recognized by a number of other states as having internal and external sovereignty over it. In sociology, the state is normally identified with these institutions: in Max Weber's influential definition, it is that organization that "(successfully) claims a monopoly on the legitimate use of physical force within a given territory," which may include the armed forces, civil service or state bureaucracy, courts, and police. Recently much debate has surrounded the issue of State-building with competing schools of thought on how to support the emergence of capable states.
