POLITICAL ECONOMIC INSTITUTIONAL PATTERNS Sociology Help

POLITICAL ECONOMIC INSTITUTIONAL PATTERNS

Three different types of modern governmental economic systems have emerged, each of which organizes economic activity differently.

Mixed Economies

No completely "capitalist" societies exist to day. The so-called, capitalist societies are "mixed" societies in which private property, private enterprise, and the, profit system are. combined with considerable government intervention and direction. In. the allegedly capitalist society of the United States and the allegedly socialist society 'of Sweden, the relation between government and the economy is similar in kind and differs somewhat-in degree. In either case, the larger part. of the society's economic activity is carried on by business which seeks to make profits. In each country, however, government operates some enterprises. Government control of the supply of. money and credit greatly influences economic activity in each country, while variations in government expenditures also affect the level of business. Finally, both countries operate as welfare slates, .providing a large number of services such as education medical care, and a minimum income.

Posted on September 4, 2014 in Political Economic Institutions

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