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Showing posts from September, 2024

Economic Systems: Communism, Socialism, Free - Market - Part 1

 + JMJ  I live in a country that some call 'socialist' ... and I recall looking up the definition once and found that the label didn't fit. So I've decided to do a shallow dive into the different economic systems with a focus on Communism, Socialism and Market Driven. In Socialism - the means of production are not owned by individuals, but by a collective of some sort, such as the Government.   In Canada we have Crown Corporations that are own and managed by the Government.  So these do appear to be 'Socialist', however they are the exception not the rule and are generally focused on areas of national importance (See list at end of article).  I've attached some excerpts below and have concluded that the Canadian Health system is not inherently socialist because the 'method of production' - meaning the hospitals - are not generally owned by the government, but privately via corporations.  What most people don't seem to know is that the Canadian He