Other Economic Systems
collective ownership and management of some economic resources with
equitable distributed of resulting production.
Democratic Socialism as practiced in Western
Europe had public ownership of key industries such as transportation
and communication. Western Europe economies began moving away from
socialism toward capitalism in the late 1970's. The change began
with England's Prime Minister
Thatcher soon followed by US President
Ronald Reagan. Capitalism vs.
Socialism is a
Crash Course Video explores government basics as does the
Capitalism vs. Socialism Video. See
Communism is the ideal of those practicing a "Marxian
System." It was designed by 19th century philosopher
Karl Marx. Wealth
is collectively owned and managed with a
command economy. The
government that led to the anarchy the late 18th century French
Revolution has caused many governments and wealthy individuals to
fear changes promised by liberal economic systems. Some equate
communism with a totalitarian political system as a democratic
communism has never existed.
did not want revolution. In Russia
Bolshevik revolutionists eventually won political support
structures society around holding land relationships in exchange
for service or labor.
refers to a theorized contemporary rebirth of
and public life reminiscent of a
Traditional economy is directed by custom.
rests with a small number of people who may be distinguished by
royalty, wealth, family ties, education, corporate, religious or
wealth rules. Used by developing countries,
Plutocrats vs. Populist is controversial.
American Dynasty summarizes the Bush family plutocracy.
exists to increase the personal wealth and political power of
government officials. Russia?
Theocracy has deity
For more visit
Modern Capitalism has increasing world-wide competition necessitating
up-to-date technology, complex capital goods
and a decreasing number of specialized well-trained employees from around
Economic Rent Seekers
increase their wealth using politics. Their influence has replaced
that of monarchs and clergy during capitalism's development.
Corporate Capitalism dominated by hierarchical, bureaucratic
driven by government as practiced in China,
Money Manager Capitalism creates and
distributed economic rent
using financial markets and
Crony Capitalism which began in "the garden" many years ago.
As a group these participants seek
described by Adam Smith has never been completely put into practice.
Instead there have been
Mixed Economies combining capitalism and socialism. See
Our Democratic Federalist Capitalist Republic
Turning Points in America's Democratic Federalist Republic
Political Economy Readings
Criticism of Modern
Standard Oil Trust
atrocities. Writing for
McClure Magazine and
other monthlies, Muckrakers educated the public from 1890 to 1929 Progressive
Era. This era demonstrates how the US democratic federalist
republic has slowly catered to personal liberty over property
a modern day
critical of capitalism and capitalists. Some question his estimated
$50 million net worth.
Philosophical Criticism Readings
Why Intellectuals Hate Capitalism,
Is Capitalism Moral? A Commonwealth Club Podcast,
Coercive Power of Capitalism, Capitalism and Inequality
Why China Does Capitalism Better than the US,
An Economic Hit Man Reveals Why the World
Financial Markets Imploded--and What We Need to Do to Remake Them,
by John Perkins,
How Will Capitalism End,
Has Capitalism Reform Reached a Turning Point,
Revisiting Old Argument About Impact Capitalism,
Economic Report of the President 2014
is positive, The Great Recession
looks at a recent capitalistic failures.