Economic Systems

There’s a common perception that economics is about material prosperity. That’s certainly part of it, but it’s also about creating a better world where people can thrive.

Preface When a socialist says he wants to give you “the ABC’s of socialism,” you can be sure that’s as far into the alphabet as he’ll want to go. Happy talk, vague promises, political programs, perhaps an angry, envy-soaked tirade or two against the rich—but not much at all about where all that leads. That […]

East/West Germany's phantom bordersMore below pic.twitter.com/mSe9fh668Y— Tomas Pueyo (@tomaspueyo) February 14, 2024

Argentina's libertarian President Javier Milei praised free markets and slammed socialism at Davos on Wednesday (January 17) during the first overseas tour f...

The world today isn’t perfect, but we’ve come a long way in the last 200 years. It didn’t happen by chance. The Building Blocks of Prosperity examines the role governments and individuals have played in delivering this prosperity and asks what must be done to ensure even more progress in the future.

If we want to stop young people from being disillusioned with capitalism, we need to honestly acknowledge the problems they're facing instead of dismissing them.

FSU coach Mike Norvell on today’s decision ⬇️ pic.twitter.com/C7CLT4imQP— Adam Rittenberg (@ESPNRittenberg) December 3, 2023

One of my favourite examples of how people react to economic incentives:Architectural tax avoidance👇🇬🇧 UK : tax on windows🇻🇳 Vietnam: tax on frontage 🇫🇷 France: tax on floors (roof exempted)🇧🇷 Brazil: tax on church construction (when finished) pic.twitter.com/35oAcgIFV0— Lionel Page (@page_eco) February 20, 2020

New research shows economic freedom can help overcome inequality and promote social mobility for the poor.

The government is pressing ahead with plans to take back the land despite loud opposition from wealthy golf club members, underscoring the gravity of Hong Kong’s housing problem.

The youth unemployment rate has risen every month this year, a sign of China's increasing economic troubles. Authorities have decided to stop reporting it.

A comparison is made between the economic development of North and South Korea in the context of their history.

Nearly 70% of Israeli startups have taken action to relocate parts of their business outside Israel, a survey released on Sunday by an Israeli non-profit organisation on the government's planned judicial overhaul found.

Americans see capitalism as giving people more opportunity and more freedom than socialism, while they see socialism as more likely to meet people’s basic needs, though these perceptions differ significantly by party. Many Democrats say socialism meets people’s basic needs; Republicans say it restricts individual freedoms.

The island nation’s transformation has caught the attention of economists and policymakers worldwide for its recent shift to a more market-based economic system.

Shares of gross domestic income: Compensation of employees, paid: Wage and salary accruals: Disbursements: to persons

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One polarizing coffee shop in Toronto is set to officially close its doors at the end of the month.  The Anarchist, located at 190 Jarvis Street, d...

Licensing the Soviet game for international distribution was quite a thriller plot.

There's cause for optimism in the latest report on world happiness. Benevolence is about 25% higher than it was pre-pandemic and life evaluations from 2020 to 2022 have been "remarkably resilient," the report says.

China has set an official economic growth target of "around 5%" for 2023, as it seeks to revive the world's second-largest economy after a year of tepid growth because of pandemic measures.

Millionaires are leaving the US by the thousands, plunging the net inflow of wealthy individuals by nearly 86%, per data from Henley & Partners.

On a scale of 0 to 10, where 10 represents more freedom, the average human freedom rating for the 165 jurisdictions fell from 7.03 in 2019 to 6.81 in 2020. Most areas of freedom fell, including significant declines in the rule of law and freedom of movement, expression, association and assembly, and freedom to trade.

Certification for educators that want to effectively teach their students about communism’s brutal past and its deadly legacy.

A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution.

A command economy is a system in which a government plans its economics to attain societal goals. Learn characteristics, pros, cons, and examples.

The United States is considered to be the world's premier free-market economy, but it's really a mixed economy. Here's why.

A market economy is an economy where private and public ownership of businesses are commonplace. Most countries in the world have some form of market economy.