... other hand, is a mix of characteristics from both capital and communist systems. The decision making process is both centralized and decentralized depending on the decisions. The planned system guides the market and prices while ownership is a combination of private and public and incentives can either be material or moral and are based on contribution. The socialist system however ... two world wars greatly influenced the Marxist-Leninist and rightist viewpoints, while the liberal rational philosophy was established before these great periods of destruction thus making the effect of h...

• Word Count: 4711
• Approx Pages: 19
• Has Bibliography
• Grade Level: Undergraduate