June 2011
Intermediate to advanced
150 pages
4h 22m
English
Content preview from Managerial EconomicsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Free Market Economies Versus Collectivist Economies
The well-being and stability of any society depends on whether the members of that society are able to acquire the goods and services they need or want. In primitive societies, these issues were settled by either a recognized authority figure (e.g., a king or military leader) or use of force. In modern times, even though we still have kings and dictators, the source of authority is likely to be government laws and agencies. Societies that primarily use centralized authorities to manage the creation and distribution of goods and services are called collectivist economies. The philosophy of communism is based on the prescription that centralized authority is the best means of meeting the needs ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.