Professional Documents
Culture Documents
3 Eco
3 Eco
Mixed market
High
Medium
Bias toward
entrepreneurial innovation
Individual
The Doctrine of Laissez-Faire
Determined by government
Profit Motive
Low
governmental interference
High
governmental interference
Capitalism
Socialism
Primarly Decentralized
Primarly Decentralized
Primarly Market
Primarly Market
Primarly
Private Ownership
Primarly Market
Democracy
Democracy
Command Market
Low
By government
High
governmental interference
Applies the visible hand of
the state, central
planning, and collectivism
Communism
Primarly Centralized
Primarly Plan
Primarly
State Ownership
Material and Moral
Dictatorship