The Economic Spectrum

The ‘Right’ Market Economy Free Enterprise Capitalism

Capitalism Business, consumers, and government act independently of one another. Companies & individuals own their own property. You compete with other companies, and If you make a profit, you get to keep it. You pay for the things (health care, housing, food, education, etc.) you want. Are there any true market economies? - Even the United States has some government intervention.

The ‘Left’ Centrally Planned Economy Socialism Communism

Everyone (the government & the people) work for each other. All property is owned by the government & the people. All profit is distributed amongst all the people. (100% tax) All services and goods are provided for free (health care, food, housing, education, etc.)

Cuba… today…

the ‘Ideal’ Capitalism and Communism are ‘ideals.’ They are the way things should work. ( In theory.) However, most countries are a pragmatic mix of these ideals. (Which is often called a ‘mixed’ economy.)

The Economic Spectrum RIGHT

Mixed Economy Conservative Ideals: Socialist (more ‘liberal’) Ideals: Fewer taxes, fewer government programs, more opportunity for the individual. Socialist (more ‘liberal’) Ideals: Higher taxes, more government programs, more focus on the ‘common’ good.

Where do you sit?