Central Authority
From capitalistManifesto
Attribute | Socialism | Capitalism | Communism | Fascism | Libertarianism |
---|---|---|---|---|---|
Factors of production are owned by | Everyone | Individuals/Corporations | Everyone | Government | Individuals |
Factors of production are valued for | Usefulness | Profit | Usefulness | State power | Market Forces |
Allocation decided by | Community plan | Supply and Demand | Central planning | Central command | Supply and Demand |
From each according to their | Ability | Market Value | Capability | State value | Free Choice |
To each according to their | Fair Need | Wealth | Need | Loyalty | Relationships |
Military derived from | Tax + Volunteers | Tax + Volunteers | Conscription | Conscription | Shared Interest |
Corporations are | Private | PLC + Private | State-Owned | Extensions of State | Local Conventions |
SCHOOLS OF ECONOMIC THOUGHT
- German Historical School
- American School
- French Liberal School
- Mainstream Neo-Keynsian Economics
- Monetarism
- Institutional Economics
- Heterodox Economics
- Austrian School
- Marxian Economics
- Neoclassical Economics
- Chicago School
- Bioeconomics
- Ecological Economics