4 Different Types of Economic Systems

An economic system is the a kind of structure of production, allocation of funds, distribution and consumption of goods and services in an specific economy.

Different Types of Economic Systems

There are three famous types of economic systems: the capitalism, the socialism and the comunism.

Nowadays, there is a movement that propose a new and different economic system with a revolutionary point of view, the resource based economy.

1. The Capitalism

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Is an economic and social system based on private property and the distribution of the means of production among the population.

There is a group of people that owns the means of production, this group offers to the rest of the population the oportunity to use those means to produce goods and services, getting in return a salary.

The means of productions are owned by a small part of the population, who gets the best profit, and the big mass of people, struggles to get a good salary and climb up. Is a economic system based on inequality.

2. The Socialism

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Is a political and ideological movement that propose a system and a policy in where the means of producction are owned by the whole society and they have a democratic control among them.

3. The Communism

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Is a political, economical and social movement that establish a comunist society in where the ownership of the means of production is common to the whole society.

There are no social classes. One of the more popular schools of communism is the Marxism.

4. The Resources Based Economy

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Is a new type of economy in where the money disappears and the planet resources are used by the society in an equal and ecological way.

The production of goods is determinated by the needs of a society an not by the global market and its business. There is no property or nation and everything is free.

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