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the Us is a member of G8, UN, and Nafta, yet unlike others int he groups has not ratified this |
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althought two "agreements" have been added to this, one on environmental and the other on labor cooperation, neither amendment seems to have created substantive standards or changes and are viewed as perhaps mere appeasements to environmentalists and labor |
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| anthough its motto is "united in diversity" it is currently experiencing a dialectic as some trafficing of immigrants, who substitute for domestic labor, has resulted allegedly in increasing unemployment for domestic workers |
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| this composite of separate economies represents about 65% of the world economy |
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| its permament members were Allies during WWII (with Russia now replacing the now defunct USSR) |
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| private ownership, reliance on market mechanism, with a substantial safety net |
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| the opposite of command socialism |
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private ownership of land and capital with government dictate of allocation and distribution |
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ranks poorly in temrs of freedom and allocative efficiency, but, theoretically, highly in terms of egalitarianism |
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| the new Russia, current PRC, and the former GDR portion of the new, re-unified Germany are moving away from nationalization and toward this, its polar opposite |
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Friedrich A. Hayek and Ludwig von Mises would not believe that this principle need be maintained
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uses much indicative planning, however less than in Japan, but more than in U.S. |
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this stage in the evolution of capitalism allows both imperfect competition and government intervention |
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mixed market or "patched up capitalism"? |
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