Overview Of America and Types of Economic Systems 2

This video clip from the documentary video Overview of America explains differences between the major economic systems of free market Capitalism, Fascism, Naziism, Socialism, and Communism. It is explained that all types of economic systems include elements of capital and property, with differences between the systems being varying combinations of types of ownership and control of those two elements.

Fascist:

In a Fascist system, the government does not own businesses on paper, but it does control them. In Mussolini’s Italy, even though he didn’t hold title to businesses, he told the owners what to produce, how much to produce, when to produce, where to buy raw materials, who to hire, who to fire, and what prices to charge. The rest “was up to them.” The fascist system is more efficient than other state controlled systems due to those living under it thinking they still own their businesses. Such a government controls the owners through an array of taxations and regulations.

Nazism:

Under Nazism, which means “national socialism,” it’s proponents went one step further and acquired ownership of some corporations such as Volkswagen, but Hitler did not seize ownership of other industrial giants but rather just controlled them in the same way that Mussolini had controlled businesses in Italy.

Socialism:

Socialism is where government officials aquire possession of major industries, such as transportation, communications, and utilities, which allows for government to leverage control over the entire economy. Through ownership of these vital segments of the industry, and by creating government regulatory agencies, socialists gain control over virtually everything else.

Communism:

Communism is the “granddaddy of all” in the economic sense. Under this system all of the capital is owned and controlled by the State.

Free Market Economy:

The founding fathers knew that the system of a free market economy in a Republic which they designed would not last without a certain degree of shared morality in the citizenry.

James Madison cautioned, “limited government alone is inadequate for our nation.”

John Adams said “Our Constitution was made only for a moral and religious people, it is wholly inadequate to the government of any other.”

George Washington said “.. reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principle.”

Benjamin Franklin said “Only a virtuous people are capable of freedom.. As nations become corrupt and vicious, they have more need of masters.”

The alternative to Americanism is what has condemned most of the human race to live as slaves throughout the past millennium— with the ideas that rights are privileges dispensed by an Oligarchy, the nation’s capital and all economic activity being directed from a central power, morality being inconsequential, and security needing to be preferred over freedom and opportunity.

It is explained that the United States continues to be steered off-course through the principals that led to it’s greatness being cast aside, and what is needed is a sufficient number of Americans getting involved to return the nation to having less government and more personal responsibility of citizens.

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