Traditional Economy Countries 2022

It’s easy to conceive of a country’s economy regarding how much money its citizens have. Modern economies are quantified by GDP (Gross Domestic Product), GNP (Gross National Product), and GDP Per Capita. On the other hand, an economy is more than just a measure of how much money individuals make. For example, a market economy … Read more

Market Economy Countries 2022

An economy based on free-market principles is one in which the forces of supply and demand set the pricing of products and services for individuals, small enterprises, and the consumers who use them. They then influence choices in sectors like investment, manufacturing, and distribution in the economy. In a free market, businesses have the freedom … Read more

Command Economy Countries 2022

Capitalist class profiting at the cost of the working class is no longer acceptable under communism, a political, social, philosophical, and economic philosophy aimed at equilibrating these two sections of society. This goal can only be achieved by eschewing capitalism’s private ownership of manufacturing assets (manufacturers, factories, and suppliers) and profit motives. Communism instead uses … Read more