Changes

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.

George Reisman, Professor of Economics at [[Pepperdine University]], wrote

George Reisman, Professor of Economics at [[Pepperdine University]], wrote: "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]]."<ref name="capitalism.net">http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm</ref>}}

{{cquote|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]].<ref name="capitalism.net">http://www.capitalism.net/Capitalism/Economics%20and%20Capitalism.htm</ref>}}

C. Lowell Harriss, a professor of economics at Columbia, describes economics as the study of the allocation of scarce goods and services.  In market economies, this is determined by [[supply and demand]].<ref>[https://www.nytimes.com/2008/07/13/business/13every.html?em&ex=1216440000&en=a9a6d3e97f11545f&ei=5087%0A Lessons in Love, by Way of Economics]</ref>

C. Lowell Harriss, a professor of economics at Columbia, describes economics as the study of the allocation of scarce goods and services.  In market economies, this is determined by [[supply and demand]].<ref>[https://www.nytimes.com/2008/07/13/business/13every.html?em&ex=1216440000&en=a9a6d3e97f11545f&ei=5087%0A Lessons in Love, by Way of Economics]</ref>