Political Economy

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3 domain-specific abstractions whose origin domain is Political Economy.

• Economic liberalism — A family of political-economic doctrines favoring private property, voluntary exchange, competitive markets and limits on discretionary state direction of production.
• State capitalism — An economic organization in which state institutions own, control or strategically direct commercially operated enterprises and capital accumulation while retaining markets, wage labor and enterprise-style management.
• State socialism — Organize a socialist political economy around state ownership or state administration of major productive assets, treating public authority as the principal institutional vehicle for socialization or transition.