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Encyclopedia > Economic system

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Economic systems

Ideologies and Theories

Primitive communism
Capitalist economy
Corporate economy
Fascist economy
Laissez-faire
Mercantilism
Natural economy
Social market economy
Socialist economy
Communist economy
Primitive communism, according to Karl Marx and Friedrich Engels, is the original society of humanity. ... Capitalism generally refers to an economic system in which the means of production are all or mostly privately[1][2] owned and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a free market. ... Historically, corporatism or corporativism (Italian: corporativismo) refers to a political or economic system in which power is given to civic assemblies that represent economic, industrial, agrarian, and professional groups. ... The economics of fascism refers to the economic policies implemented by fascist governments. ... Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ... Mercantile redirects here. ... Natural economy refers to a type of economy in which money is not used in the transfer of resources among people. ... The Social market economy was the German and Austrian economic model during the Cold War era. ... Socialist economics is a broad, and sometimes controversial, term. ... This article is about communism as a form of society, as an ideology advocating that form of society, and as a popular movement. ...

Sectors and Systems

Closed economy
Dual economy
Gift economy
Informal economy
Market economy
Mixed economy
Open economy
Participatory economy
Planned economy
Subsistence economy
Underground economy
Virtual economy
An autarky is an economy that limits trade with the outside world, or an ecosystem not affected by influences from the outside, and relies entirely on its own resources. ... A dual economy is the existence of two separate economic systems within one country. ... A gift economy is an economic system in which goods and services are given without any explicit agreement for immediate or future quid pro quo. ... A market economy (also called a free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services take place through the mechanism of free markets guided by a free price system. ... A mixed economy is an economy that has a mix of economic systems. ... An open economy is an economy in which people, including businesses, can trade in goods and services with other people and businesses in the international community at large. ... Participatory economics, often abbreviated parecon, is a proposed economic system that uses participatory decision making as an economic mechanism to guide the allocation of resources and consumption in a given society. ... This article refers to an economy controlled by the state. ... Media:Example. ... This box:      The underground economy or shadow economy consists of all commerce that is not taxed. ... A virtual economy (or sometimes synthetic economy) is an emergent economy existing in a virtual persistent world, usually in the context of an Internet game. ...

Related articles

Anglo-Saxon economy
American School
Global economy
Hunter-gatherer economy
Information economy
New industrial economy
Palace economy
Plantation economy
Token economy
Traditional economy
Transition economy
Anglo-Saxon economy or Anglo-Saxon capitalism (so called because it is largely practiced in English speaking countries such as Australia, the United Kingdom and the United States) is a capitalist macroeconomic model in which levels of regulation and taxes are low, and the quality of state services and social... The American School, also known as National System, represents three different yet related things in politics, policy and philosophy. ... The rise of technology has allowed our environment to be characterized as a global one. ... In anthropology, the hunter-gatherer way of life is that led by certain societies of the Neolithic Era based on the exploitation of wild plants and animals. ... Information economy is a loosely defined term to characterize an economy with increased role of informational activities and information industry. ... Countries currently considered NICs. ... A palace economy is a system of economic organisation in which wealth flows out from a central source (the palace), eventually reaching the common people, who have no other source of income. ... This box:      A plantation economy is an economy which is based on agricultural mass production, usually of a few staple products grown on large farms called plantations. ... A token economy is a system of behavior modification based on the principles of operant conditioning. ... A traditional economy is an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on primitive methods and tools. ... A transition economy is an economy which is changing from a planned economy to a free market. ...

Portal:Business and Economics Business and Economics Portal
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An economic system is a particular set of social institutions which deals with the production, distribution and consumption of goods and services in a particular society. The economic system is composed of people, institutions and their relationships to resources, such as the convention of property. It addresses the problems of economics, like the allocation and scarcity of resources in a given economy. Economic systems is the category of economics that includes the study of different systems. Image File history File links Portal. ... This article is about a sociological concept. ... Wikibooks has more about this subject: Marketing Distribution is one of the 4 aspects of marketing. ... In economics, consumption refers to the final use of goods and services to provide utility. ... A good in economics is any physical object (natural or man-made) or service that, upon consumption, increases utility, and therefore can be sold at a price in a market. ... Services are: plural of service Tertiary sector of industry IRC services Web services the name of a first-class cricket team in India This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... For other uses, see Society (disambiguation). ... An institution is a group, tenet, maxim, or organization created by a group of humans. ... This article or section does not adequately cite its references or sources. ... This article or section does not cite any references or sources. ... Face-to-face trading interactions on the New York Stock Exchange trading floor. ... Articles in economics journals are usually classified according to the system used by the Journal of Economic Literature (JEL). ...

Contents

Overview

An economic system can be considered a part of the social system and hierarchically equal to the law system, political system, cultural system, etc. There is often a strong correlation between certain ideologies, political systems and certain economic systems (for example, consider the meanings of the term "communism"). Many economic systems overlap each other in various areas (for example, the term "mixed economy" can be argued to include elements from various systems). There are also various mutually exclusive hierarchical categorizations. Social structure (also referred to as a social system) is a system in which people forming the society are organized by a patterns of prelationships. ... A legal system is the mechanism for creating, interpreting and enforcing the laws in a given jurisdiction. ... A political system is a system of politics and government. ... Cultural system refers to the functional interaction between the different elements of culture in a particular manner. ... Political Ideologies Part of the Politics series Politics Portal This box:      An ideology is an organized collection of ideas. ... A political system is a system of politics and government. ... Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ... A mixed economy is an economy that has a mix of economic systems. ...


The basic and general economic systems are:

There are several basic and unfinished questions that must be answered in order to resolve the problems of economics satisfactorily. The scarcity problem, for example, requires answers to basic questions, such as: what to produce, how to produce it, and who gets what is produced. An economic system is a way of answering these basic questions. Different economic systems answer them differently. A market economy (also called a free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services take place through the mechanism of free markets guided by a free price system. ... Capitalism generally refers to an economic system in which the means of production are all or mostly privately[1][2] owned and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a free market. ... A mixed economy is an economy that has a mix of economic systems. ... This article refers to an economy controlled by the state. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to control by the community[1] for the purposes of increasing social and economic equality and cooperation. ... A traditional economy is an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on primitive methods and tools. ... Participatory economics, often abbreviated parecon, is a proposed economic system that uses participatory decision making as an economic mechanism to guide the allocation of resources and consumption in a given society. ...


Division of economic systems

Typically, "hands-on" economic systems involve a greater role for society and/or the government to determine what gets produced, how it gets produced, and who gets the produced goods and services, with the stated aim of ensuring social justice and a more equitable distribution of wealth (see welfare state). Meanwhile, "hands-off" economic systems give more power to private individuals (and perhaps corporations) to make those decisions, rather than leaving them up to society as a whole, and often limit government involvement in the economy. For other uses, see Society (disambiguation). ... Good (accounting) - Wikipedia /**/ @import /skins-1. ... Services are: plural of service Tertiary sector of industry IRC services Web services the name of a first-class cricket team in India This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Social justice refers to the concept of a just society, where justice refers to more than just the administration of laws. ... For the business meaning, see Wealth (economics). ... There are three main interpretations of the idea of a welfare state: the provision of welfare services by the state. ... A corporation (usually known in the United Kingdom and Ireland as a company) is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name...


The primary concern of "hands-on" economic systems is usually egalitarianism, while the primary concern of "hands-off" economic systems is usually private property. Libertarians target individual economic freedom as a primary goal of their "hands-off" policies. Egalitarianism (derived from the French word égal, meaning equal or level) is a political doctrine that holds that all people should be treated as equals from birth. ... This page deals with property as ownership rights. ... See also Libertarianism and Libertarian Party Libertarian,is a term for person who has made a conscious and principled commitment, evidenced by a statement or Pledge, to forswear violating others rights and usually living in voluntary communities: thus in law no longer subject to government supervision. ...


The following list divides the main economic systems into "hands-on" and "hands-off," it attempts to structure the systems in a given section by alphabetical order and in a vertical hierarchy where possible.


"Hands-on" systems

A Non-property System is an economic system in which there is no concept of property. ... Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ... Anarchist communism is a form of anarchism that advocates the abolition of the State and capitalism in favor of a horizontal network of voluntary associations through which everyone will be free to satisfy his or her needs. ... A gift economy is an economic system in which goods and services are given without any explicit agreement for immediate or future quid pro quo. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to control by the community[1] for the purposes of increasing social and economic equality and cooperation. ... Libertarian socialism is a group of political philosophies that aim to create a society without political, economic or social hierarchies - a society in which all violent or coercive institutions would be dissolved, and in their place every person would have free, equal access to tools of information and production, or... Market socialism is a term used to define a number of economic system(s) in which the means of production are owned either by the state or by the workers collectively, however unlike traditional socialism there is market that is directed and guided by socialist planners. ... State socialism, broadly speaking, is any variety of socialism which relies on ownership of the means of production by the state. ...

"Hands-off" systems

Capitalism generally refers to an economic system in which the means of production are all or mostly privately[1][2] owned and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a free market. ... Anarcho-capitalism refers to an anti-statist philosophy that embraces capitalism as one of its foundational principles. ... Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ... Historically, corporatism or corporativism (Italian corporativismo) is a political system in which legislative power is given to civic assemblies that represent economic, industrial, agrarian, and professional groups. ... Roland pledges his fealty to Charlemagne; from a manuscript of a chanson de geste. ... Mutualism is an economic theory or system, largely associated with Pierre-Joseph Proudhon, based on a labor theory of value which holds that in extreme laissez-faire, market competition will cause the market values (prices) of commodities and services to align with the amount of labor embodied in those things. ...

"Compromise" systems

A mixed economy is an economy that has a mix of economic systems. ... The American School, also known as National System, represents three different yet related things in politics, policy and philosophy. ... Dirigisme (from the French) (in English also dirigism although per the OED both spellings are used) is an economic term designating an economy where the government exerts strong directive influence. ... Japanese Post-War Economic Miracle is the name given to the historical phenomenon of Japans record period of economic growth following World War II, spurred both by US investment and Japanese government economic interventionism in particular through their Ministry of International Trade and Industry. ... Mercantile redirects here. ... The Social market economy was the German and Austrian economic model during the Cold War era. ... Prout may refer to: PROUT, Progressive utilization theory Prout College People with the surname Prout: Richard Prout William Prout (1785–1850), chemist Samuel Prout George Prout John Skinner Prout Gavin Prout Kirsten Prout William C. Prout Francis Sylvester Mahony, known as Father Prout Other: Prouts Neck, Maine Reliques of Father...

List of economic systems by Name

An etymologist's approach to economic systems, this list attempts to sort all possible economic systems in alphabetical order, without any division or hierarchization. If a given economic system has several names, a note beside the economic system provides the most common alternate names. Headline text --67. ...

The American School, also known as National System, represents three different yet related things in politics, policy and philosophy. ... Anarchist redirects here. ... Anarcho-capitalism refers to an anti-statist philosophy that embraces capitalism as one of its foundational principles. ... Anarcho-Communism, or Libertarian Communism, is a political ideology related to Libertarian socialism. ... An autarky is an economy that limits trade with the outside world, or an ecosystem not affected by influences from the outside, and relies entirely on its own resources. ... Barter is a simple form of trade where goods or services are exchanged for a certain amount of other goods or services, i. ... Buddhist Economy Since Buddhism considers reality as a structure of interdependence a Buddhist economy could allow for differences of ability and wealth as long as the fundamental interests of all participants were maintained. ... Capitalism generally refers to an economic system in which the means of production are all or mostly privately[1][2] owned and operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a free market. ... It has been suggested that Benign colonialism be merged into this article or section. ... A planned economy is an economic system in which economic decisions are made by centralized planners, who determine what sorts of goods and services to produce, and how they are to be priced and allocated. ... Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ... Coordinatorism is an economic system in which control is held neither by people who own capital, nor by the workers, but instead is held by an intervening class of coordinators, typically in the roles of managers, administrators, engineers, university intellectuals, doctors, lawyers. ... Historically, corporatism or corporativism (Italian corporativismo) is a political system in which legislative power is given to civic assemblies that represent economic, industrial, agrarian, and professional groups. ... A digital economy is an economy that is based on electronic goods and services produced by an electronic business and traded through electronic commerce. ... Distributism, also known as distributionism and distributivism, is a third-way economic philosophy formulated by such Roman Catholic thinkers as G. K. Chesterton and Hilaire Belloc to apply the principles of social justice articulated by the Roman Catholic Church, especially in Pope Leo XIIIs encyclical Rerum Novarum[1] and... Dirigisme (from the French) (in English also dirigism although per the OED both spellings are used) is an economic term designating an economy where the government exerts strong directive influence. ... Roland pledges his fealty to Charlemagne; from a manuscript of a chanson de geste. ... A gift economy is an economic system in which goods and services are given without any explicit agreement for immediate or future quid pro quo. ... Green economics loosely defines a theory of economics by which an economy is considered to be component of the ecosystem in which it resides. ... Hydraulic despotism is a term for despotic rule supported by control of a single, necessary resource. ... A hydraulic empire (also known as a hydraulic despotism or a water monopoly empire) arises through the need for flood control and irrigation, which requires central coordination and gives rise to a specialized bureaucracy. ... The theoretical project of Inclusive Democracy (ID; as distinguished from the political project which is part of the democratic and autonomy traditions) emerged from the work of political philosopher, former academic and activist Takis Fotopoulos in Towards An Inclusive Democracy, Cassell/Continuum, London/New York, 1997, 401 pp. ... Information economy is a loosely defined term to characterize an economy with increased role of informational activities and information industry. ... The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. ... Islamic economics is economics in accordance with Islamic law. ... Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Shariah) principles and guided by Islamic economics. ... Japanese Post-War Economic Miracle is the name given to the historical phenomenon of Japans record period of economic growth following World War II, spurred both by US investment and Japanese government economic interventionism in particular through their Ministry of International Trade and Industry. ... A knowledge economy is either economy of knowledge focused on the economy of the producing and management of knowledge, or a knowledge-based economy. ... Anarcho-Communism, or Libertarian Communism, is a political ideology related to Libertarian socialism. ... Libertarian socialism is a group of political philosophies that aim to create a society without political, economic or social hierarchies - a society in which all violent or coercive institutions would be dissolved, and in their place every person would have free, equal access to tools of information and production, or... A market economy (also called a free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services take place through the mechanism of free markets guided by a free price system. ... Market socialism is a term used to define a number of economic system(s) in which the means of production are owned either by the state or by the workers collectively, however unlike traditional socialism there is market that is directed and guided by socialist planners. ... Mercantile redirects here. ... A mixed economy is an economy that has a mix of economic systems. ... Mutualism is an economic theory or system, largely associated with Pierre-Joseph Proudhon, based on a labor theory of value which holds that in extreme laissez-faire, market competition will cause the market values (prices) of commodities and services to align with the amount of labor embodied in those things. ... Natural economy refers to a type of economy in which money is not used in the transfer of resources among people. ... Neo Colonialism is the belife that former colonies of European powers have never recieved economic freedom from their former rulers. ... One term used to describe the emerging economic order within the Information Society is the Network economy. ... Participatory economics, or parecon, a participatory economics system proposed as an alternative to other systems such as capitalism and coordinatorism, emerged from the work of the radical theorist Michael Albert and of the radical economist Robin Hahnel, beginning in the 1980s and 1990s. ... Participatory economics, or parecon, a participatory economics system proposed as an alternative to other systems such as capitalism and coordinatorism, emerged from the work of the radical theorist Michael Albert and of the radical economist Robin Hahnel, beginning in the 1980s and 1990s. ... This article refers to an economy controlled by the state. ... Prout may refer to: PROUT, Progressive utilization theory Prout College People with the surname Prout: Richard Prout William Prout (1785–1850), chemist Samuel Prout George Prout John Skinner Prout Gavin Prout Kirsten Prout William C. Prout Francis Sylvester Mahony, known as Father Prout Other: Prouts Neck, Maine Reliques of Father... Jacque Fresco with Roxanne Meadows Jacque Fresco (born March 13, 1916) is an industrial engineer, architectural designer, social engineer and futurist based in Florida. ... Worker Self-Management is a form of workplace decision-making in which the employees themselves agree on choices (for issues like customer care, general production methods, scheduling, division of labour etc. ... Despite common origins, the economy of socialist Yugoslavia was much different from economies of the Soviet Union and other Eastern European socialist countries, especially after the Yugoslav-Soviet break-up of 1948. ... The Social market economy was the German and Austrian economic model during the Cold War era. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subject to control by the community[1] for the purposes of increasing social and economic equality and cooperation. ... Market socialism is an attempt by a Soviet-style economy to introduce market elements into its economic system to improve economic growth. ... Media:Example. ... A traditional economy is an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on primitive methods and tools. ... A virtual economy (or sometimes synthetic economy) is an emergent economy existing in a virtual persistent world, usually in the context of an Internet game. ...

See also


  Results from FactBites:
 
Economic system / Economics - Economy-point.org (1068 words)
The economic system is by the interdependence of the social subsystems, which affect each other mutually, particularly with the political system verwoben.
Economic system is after the system theory an analytic generic term for all those elements, processes and structures, which can be defined by the common sense of the need satisfaction in view of limited goods as part of the society system of other subsystems such as politics and culture.
Finally thirdly the economic order developing from cooperating the elements and participants is a component of the economic system; it is based on the institutional rules (economic system, economic constitution).
Economic system of the Czech Republic - Czech republic (559 words)
Economic system of the Czech Republic - Czech republic
In the years right after the revolution, the Czech economic system had to absorb all changes that had occurred on world markets; the changes were often very dramatic.
Within the restitution system, businesses and land were returned to their previous owners; during the coupon privatization, a large majority of state companies were privatized.
  More results at FactBites »

 
 

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