Thursday, April 9, 2009

What impact have government and economic ideas had on the world?

Throughout history, mankind has had to address several issues in order to improve the quality of life. Therefore, a rich bank of ideas has developed from the struggles in addressing life's issues which have occured in each historical period.

What I want to know is what are the different types of government that country's have had throughout the history of mankind? What impact did they have on the world?

What economic ideas have people had that have had on impact on the world? What was that impact?

Any help would be appreciated. Thanks in advance : )


Well just off the top of my head, there have been governments that have adopted... central planned economies (includes socialism, communism, fascism even), laissez-faire, a mix between free market and socialism (which is probably the most common today)

Capitalism is advantageous to a nation because it tends to get rid of inefficiencies that governments tend to impose on markets. example: a buyer and a firm decides on prices that are reasonable and make an exchange, as opposed to a buyer going through the government to buy something from some firm, which has to deal with gov't policies.

This has shown to be the most successful.

Socialism, central planned economies, are advantageous because capitalism tends to hurt those individuals who can't offer skills to the market. socialism usually means high taxes and that the gov't will oversee things like health care.

after the fall of the soviet union, people realized the inefficiencies of central planned economies, so most coutnries today have adopted some sort of mix between completely free market economies + some gov't regulation to prevent extremely high prices and stabilize the economy

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