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Essay heading: Economy Systems
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Social Issues |
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| Date added: |
June 28, 2007 |
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7 / 1766 |
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Many American economists have come to accept the concept of a "mixed economy," combining private initiative with some government control.
A.
Free Enterprise
The major differences between Communist and American economic organization concern ownership of factories, farms, and other enterprises, as well as contrasting principles of pricing and income distribution...
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In the U.S. two-thirds of the nation's gross national product (GNP) is directly generated by profit-making business enterprises, farmers, and such voluntary nongovernmental entities as private universities, hospitals, cooperatives, and foundations. Of the remaining one-third of the GNP, which is generated by the government, more than half represents transfers from taxpayers to old-age pensioners, veterans, welfare recipients, and other groups of beneficiaries...
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