A look into the political/philosophical side of economics

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Presentation transcript:

A look into the political/philosophical side of economics Economic Systems: A look into the political/philosophical side of economics

Command Economy

From each according to his abilities, to each according to his needs. Capital is reckless of the health or length of life of the laborer, unless under compulsion from society. -Karl Marx

Laissez-Faire

It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self interest. -Adam Smith

Mixed Economy

After a century of striving, after a year of debate, after a historic vote, health care reform is no longer an unmet promise. It is the law of the land. Contrary to the claims of some of my critics and some of the editorial pages, I am an ardent believer in the free market - Barack Obama