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Capitalism is an economic system based on the private ownership of capital goods and the means of production , with the creation of goods and services for profit . [ 1 ] [ 2 ] Elements central to capitalism include capital accumulation , competitive markets , and a price system . [ 3 ] There are multiple variants of capitalism, including laissez-faire , welfare capitalism , and state capitalism . Capitalism is considered to have been applied in a variety of historical cases, varying in time, geography, politics, and culture. [ 4 ] There is general agreement that capitalism became dominant in the Western world following the demise of feudalism . [ 5 ] Economists (including political economists ) and historians have taken different perspectives on the analysis of capitalism.
A dictatorship is defined as an autocratic form of government in which the government is ruled by an individual: a dictator . It has three possible meanings: A Roman dictator was the incumbent of a political office of legislate of the Roman Republic . Roman dictators were allocated absolute power during times of emergency.
Socialism is an economic system characterised by social ownership of the means of production and co-operative management of the economy. [ 1 ] "Social ownership" may refer to cooperative enterprises, common ownership , state ownership , or citizen ownership of equity. [ 2 ] There are many varieties of socialism and there is no single definition encapsulating all of them. [ 3 ] They differ in the type of social ownership they advocate, the degree to which they rely on markets or planning , how management is to be organised within productive institutions, and the role of the state in constructing socialism. [ 4 ] A socialist economic system would consist of a system of production and distribution organized to directly satisfy economic demands and human needs, so that goods and services would be produced directly for use instead of for private profit [ 5 ] driven by the accumulation of capital .
Communism (from Latin communis - common, universal) is a revolutionary socialist movement to create a classless , moneyless [ 1 ] [ 2 ] and stateless social order structured upon common ownership of the means of production , as well as a social , political and economic ideology that aims at the establishment of this social order. [ 3 ] This movement, in its Marxist–Leninist interpretations, significantly influenced the history of the 20th century, which saw intense rivalry between the "socialist world" ( socialist states ruled by communist parties ) and the "western world" (countries with capitalist economies ). [ 4 ]
Fascism ( pron.: / ˈ f æ ʃ ɪ z əm / ) is a form of radical authoritarian nationalism [ 1 ] [ 2 ] that came to prominence in mid-20th century Europe. Fascists seek to unify their nation through a totalitarian state that seeks the mass mobilization of the national community, [ 3 ] [ 4 ] relying on a vanguard party to initiate a revolution to organize the nation on fascist principles. [ 5 ] Hostile to liberal democracy , socialism , and communism , fascist movements share certain common features, including the veneration of the state, a devotion to a strong leader, and an emphasis on ultranationalism , ethnocentrism , and militarism . Fascism views political violence, war, and imperialism as a means to achieve national rejuvenation [ 3 ] [ 6 ] [ 7 ] [ 8 ] and asserts that "superior" nations and races should attain living space by displacing weak and inferior ones. [ 9 ]
Anarchy has more than one definition. Some use the term "anarchy" to refer to a society without a publicly enforced government or violently enforced political authority. [ 1 ] [ 2 ] When used in this sense, anarchy may [ 3 ] or may not [ 4 ] be intended to imply political disorder or lawlessness within a society. Others, including most individuals who self-identify as anarchists, use the term to imply a system of governance, mostly theoretical at a nation state level. There are also other forms of anarchy that attempt to avoid the use of coercion, violence, force and authority, while still producing a productive and desirable society. [ 5 ] [ 6 ] Anarchy is also a technical issue of economic science. [ clarification needed ] [ citation needed ] [ edit ] Etymology The word "Anarchy" comes from the ancient Greek ἀναρχία, anarchia , from ἀν an , "not, without" + ἀρχός arkhos , "ruler", meaning "absence of a leader", "without rulers"). [ 7 ]
A monarchy is a form of government in which sovereignty is actually or nominally embodied in a single individual (the monarch ). [ 1 ] Forms of monarchy differ widely based on the level of legal autonomy the monarch holds in governance, the method of selection of the monarch, and any predetermined limits on the length of their tenure. When the monarch has no or few legal restraints in state and political matters, it is called an absolute monarchy and is a form of autocracy . Cases in which the monarch's discretion is formally limited (most common today) are called constitutional monarchies . In hereditary monarchies , the office is passed through inheritance within a family group, whereas elective monarchies are selected by some system of voting.
Oligarchy (from Greek ὀλιγαρχία (oligarkhía) ; from ὀλίγος (olígos) , meaning "few", and ἄρχω (arkho) , meaning "to rule or to command") [ 1 ] [ 2 ] [ 3 ] is a form of power structure in which power effectively rests with a small number of people. These people could be distinguished by royalty, wealth, family ties, education, corporate, or military control. Such states are often controlled by a few prominent families who pass their influence from one generation to the next. [ citation needed ] In his 2011 book Oligarchy, Jeffrey A. Winters defines oligarchy as "the politics of wealth defense by materially endowed actors". In Winters' definition, massive wealth is the key factor in identifying oligarchs.
For the use of the term "democracy" as referring to a system involving multiparty elections, representative government, and freedom of speech, see Liberal democracy . For other uses, see Democracy (disambiguation) . A woman casts her vote in the second round of the French presidential election of 2007 Democracy is a form of government in which all eligible citizens have an equal say in the decisions that affect their lives. Democracy allows eligible citizens to participate equally—either directly or through elected representatives—in the proposal, development, and creation of laws . It encompasses social, economic and cultural conditions that enable the free and equal practice of political self-determination .