1 capitalism

Political Economy
Economy Options

1. Economic systems determine what and how goods and services are produced.
Four factors of production: land, labor, capital, and enterprise are mixed
with resulting excess paid to owners as rent, wages, interest and profit.

2. Capitalism Begins With Private Property, Freedom of Enterprise and Limited Government.
Creative Destruction happens when new technology and improved economic structures
replaces both inefficient technology and economic structures.
It is what US capitalism does best.

CD has led to unmatched economic efficiency.
Historically, distribution of ever increasing excess among factor owners and government
has intensified confrontation.

Capitalism, managed by democracy,
will determine how artificial intelligence and other change affected
rent, wages, interest, profit plus continuing to allow Creative Destruction

2. Socialism has collective ownership and management of some means of production
with an equitable distributed of all production.

3. Mixed Economy, like the US, combine capitalism and socialism

4. Communism has collective ownership and management of all property.
with a centrally planned command economy.
The Paris Commune 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 capitalistic economic systems.
Communistic economies, to date, has been totalitarian government systems.
All have failed.

4. Plutocracy is wealth rules Used by developing countries, Plutocrats vs. Populist
is controversial. American Dynasty summarizes the Bush family plutocracy.

5. 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 Margaret Thatcher soon followed by US President Ronald Reagan.

6. Mercantilism economic nationalism to increase the prosperity with restrictive trade practices.

7. Colonialism profits from political control over another nation.
The practice has occurred throughout history and has existed with all economic and political systems.

9. Fabian Economy of British socialist organizations were gradualist.
These reformists did not want revolution. In Russia, Bolshevik revolutionists eventually
won political support over Menshevik gradualists.

10. Feudalism structures society around holding land relationships in exchange for service or labor.