Public (government) ownership
of the means of production is the rule.
All businesses are owned by the government and are to be operated for the
benefit of the people.
and do their
fair share of work.
The type, quantity and price of goods and services produced are determined by
All people are
and provided with
what they need.
Eventually, there will be
government will not be necessary.
The three major economic systems in the world, then, are
The United States practices its form of capitalism. Most of the nations in
the world practice some form of socialism. Although no government truly
practices communism, some nations describe their economy as communist because
that is their ultimate goal. Pure capitalism, socialism, and communism exist
only in theory.