Government owns most or all resources.
Bias toward large-scale, capital-intensive production.
Applies the visible hand of the state, central planning, and collectivism
Philosophical Anchor : Communism
Mostly private (individual or business) ownership of resources.
Bias toward entrepreneurial innovation.
Applies the invisible hand, laissez-faire, property rights, and individualism.
Philosophical Anchor Capitalism
Government and private ownership of economic resources mixed in varying proportion.
Goal of balancing economic efficiency but protecting against the excesses of greed and self- interest.
Philosophical Anchor: Socialism
Government owns most or all resources. Bias toward large-scale, capital-intensive production. Applies the visible hand of the state, central planning, and collectivism Philosophical Anchor : CommunismMostly private (individual or business) ownership of resources. Bias toward entrepreneurial innovation. Applies the invisible hand, laissez-faire, property rights, and individualism. Philosophical Anchor CapitalismGovernment and private ownership of economic resources mixed in varying proportion. Goal of balancing economic efficiency but protecting against the excesses of greed and self- interest. Philosophical Anchor: Socialism
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Government owns Most or all Resources.
Bias toward Large-scale, Capital-intensive Production.
Applies the visible Hand of the State, Central planning, and Collectivism
Philosophical Anchor: Communism
Mostly private (individual or business) Ownership of Resources.
Bias toward entrepreneurial Innovation. .
Applies the Invisible Hand, laissez-faire, Property rights, and individualism.
Philosophical Anchor Capitalism
private Ownership of Government and Economic Resources mixed in varying proportion.
Goal of balancing Economic efficiency but protecting against the excesses of Greed and Self-interest.
Philosophical Anchor. : Socialism
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