A mixed economy is considered to be in the middle of the economic spectrum and is based on the principles of both collectivism (left) and individualism (right). This article details the main principles, examples, positives and negatives of a mixed economy.
Democracy is a system of government in which power belongs to the people, either directly or through elected representatives. This article details the history, types, principles and issues facing democracy.
The main principles of macroeconomics focus on how an entire economy works. This article details the main principles of macroeconomics.
Economics helps us understand how we decide what to produce, what to consume and how to exchange goods throughout society. This article details the significance of economics as a field of study, including the different economic systems.
Individualism is an important concept in both economics and politics. Similar to collectivism it is a foundational principle to understand most ideological systems. At its
Socialism is a left-wing economic system that favors government intervention in the economy in order to try to decrease the imbalances created by laissez-faire capitalism. This article details the history, types, main principles, negatives and positives of socialism as an ideology.
Friedrich Hayek was one of the most significant economic thinkers of the 20th century and championed free market capitalism. This article details the life and significance of Friedrich Hayek.
Today, consumerism continues to intensify with influential marketing campaigns, outsourcing, and a cheap and steady supply of both resources and goods. This article details the history, significance, negatives and positives of consumerism.
Liberalism has played an important role in shaping modern liberal democracies. This article details the main principles, history and types of liberalism throughout history. For instance, this article details classical liberalism and modern liberalism.
Laissez-faire capitalism first emerged during the Enlightenment and promoted free markets, private ownership, and limited government. This article details the history and significance of laissez-faire capitalism.