Capitalism uses freemarket philosophy and private investment to regulate the economy.
Socialism is a system in which the government uses central planning to regulate the distribution of resources.
Feudalism is a system which divides economic authority among high-born individuals called nobles. It really disappeared after the 18th century.
Fascism is a system in which a strong central government regulates an essentially capitalist economy..
An economy in which capitalism is supplemented with extensive social welfare spending is known as a welfare state. Sweden and Norway are good examples.
Most economies in the world today are "mixed", with capitalism supplemented with social spending on a small scale.
Examples of social spending are Social Security, Medicare, Medicaid and
the welfare system which aids the poor. There is some debate among economists as to whether public schools constitute social spending.
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Socialism is a system in which the government uses central planning to regulate the distribution of resources.
Feudalism is a system which divides economic authority among high-born individuals called nobles. It really disappeared after the 18th century.
Fascism is a system in which a strong central government regulates an essentially capitalist economy..
An economy in which capitalism is supplemented with extensive social welfare spending is known as a welfare state. Sweden and Norway are good examples.
Most economies in the world today are "mixed", with capitalism supplemented with social spending on a small scale.
Examples of social spending are Social Security, Medicare, Medicaid and
the welfare system which aids the poor. There is some debate among economists as to whether public schools constitute social spending.
Click here to Reply
