Economic Systems

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.

A mixed economy combines the advantages and disadvantages of market, command, and traditional economies. Learn how it works.

By “rights,” the American founders did not mean government-granted entitlements. Indeed they would have rejected such entitlements as incompatible with true rights. Government can only enforce someone’s phony “right” to welfare, health care, education, or internet access by depriving someone else of their genuine rights: either by seizing their earnings or commandeering their labor.

Fact: socialists do not propose to accomplish their objectives by mutual consent.

Critics of free markets point to growing income inequality as evidence that capitalism only benefits the wealthy. But focusing too much on income inequality ...

Global poverty is one of the most pressing problems that the world faces today. The poorest in the world are often undernourished, without access to basic services such as electricity and safe drinking water; they have less access to education, and suffer from much poorer health.

Satellite data hints at the scale of their deception

The 20th National Congress of the Chinese Communist Party was held from October 16 to October 22 2022. Brookings experts reflect on the elite political gathering, and what its outcomes mean for China and the rest of the world.

Where are the top 100 companies of the world located? We highlight the U.S. share of the top companies by market capitalization .

A learning environment giving you a glimpse into life during communism.

Prepare for a whole lot of graphs.

A majority of the world's wealth is concentrated in the U.S. and China. Here's a look at the distribution of household wealth worldwide.

In many of the world's largest economies, including the U.S., Germany, and China, optimism around economic prospects sits at an all-time low.

VIDEO DESCRIPTION Everywhere people trash capitalism. But according to John, that’s mostly because they don’t understand it. AVAILABLE RESOURCES Web-based Online Quizzesare also available here. AVAILABLE RESOURCES Click to Login or Register to Access These Additional Resources

Global happiness levels are determined by several different factors. Here's a look at the happiest and unhappiest countries in every region.

DEMOCRATIC SOCIALISM, EXPLAINED 5 SOCIALISM MYTHS: PART 2 AVAILABLE RESOURCES

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If we want to understand the economic effects of socialism, North Korea is a good place to start because we can compare it to South Korea. But how do we stud...

Author Binyamin Appelbaum's new book shows how the evolving role of economists had a powerful influence on American public policy.

Does Capitalism Actually Reduce Poverty? How capitalism lifts people out of poverty Enjoy this video? You can access many more resources like quizzes, teacher's guides, and free DVDs when you register! It will take you less than two minutes, and best of all: it's FREE!

As always, “100% of the profits support our children’s home in Peru, our rebuilding projects in Puerto Rico, and our empowerment of migrants in Mexico.” + This updated unisex essential fits like a wel

"When you learn, teach. When you get, give." — Maya Angelou We are all adjusting to this "new world" brought about by the COVID-19 pandemic. While things have no doubt been a struggle for many in Southeast Michigan, I believe businesses have a responsibility to do the right thing and be part…

Socialist-minded millennial heirs are trying to live their values by getting rid of their money.