Political Economy
US Government Control Methods Defined 

1. Republic: individual is sovereign, has the power.
   Republic government: constitutionally determined elected leaders operating according to a constitution.

2. Federalism: power is shared among units,
    each of which has some final authority,
which means some have areas of self-government. 

3. Democracy: distributes power to the sovereign, the majority
Democratic government: a constitutionally determined electorate,
 each with an equal say in determining majority will, which is absolute and unlimited.

4. Courts: established by a constitution
 to manages the legal implementation of a political system,
 while protecting constitutional rights. ¹

5. Capitalism centers on profit,
characteristics are Private Property, Enterprise based on Freedom and Competition,
Freedom of Consumer Choice, Limited Government, and Creative Destruction-
 enhances growth with technology and improved economic structures,
which replace inefficient structures.

Relates Sites US Federalism   Thanks Walter