It is a social [[science]], concerned with how people produce, distribute, and consume.
It is a social [[science]], concerned with how people produce, distribute, and consume.
Governments can be classified by their economic policy. The [[U.S. Constitution]] provides basic protections for private property that are the foundation of American economic policy.
Governments can be classified by their economic policy. The [[U.S. Constitution]] provides basic protections for private property that are the foundation of American economic policy.
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George Reisman, Professor of Economics at Pepperdine University, wrote
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* Economics, as the science which studies the production of wealth under a system of division of labor, is actually the science which studies the production of wealth under capitalism. [http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm]
Presenting the socialist viewpoint that everything belongs to the government (rather than to individual members of the public),
Presenting the socialist viewpoint that everything belongs to the government (rather than to individual members of the public),