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Unformatted text preview: 1-28-08Capitalism – private ownership/market exchange. Capitalistic economy is when most assets are privately owned. The allocation of goods and services is determined largely though private market activities>all advanced economies in the world todaySot economies – most assets are publicly owned by the state. Productive assets are owned by the state. Allocation is determined by planning agencies*differences in regulation of stock markets, regulation of unions, Varieties of capitalism – all capitalist societies, however there are different ways of organizing economy1st big difference – capitalist economies differ in ways of financing, beliefs on unions, etc2nd big difference – how international economy has affected these differences through globalization, which has accelerated substantially since the 1970’sGlobalization – capitalist economies are becoming intertwined through interaction...
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This note was uploaded on 04/07/2008 for the course POLI 312 taught by Professor Kaufman during the Spring '08 term at Rutgers.
- Spring '08