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There are four central characteristics that are integral to expanding the definition of PEC. They provide the means to analyze an issue, technology or way of life through a political economic perspective. [12] The characteristics are as follows:
A centralized government (also united government) is one in which both executive and legislative power is concentrated centrally at the higher level as opposed to it being more distributed at various lower level governments.
This category is for articles relating to capitalism, an economic system based on the private ownership of the means of production and their operation for profit.Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.
Today, welfare capitalism is most often associated with the models of capitalism found in Central and Northern Europe such as the Nordic model, social market economy and Rhine capitalism. In some cases, welfare capitalism exists within a mixed economy, but welfare states can and do exist independently of policies common to mixed economies such ...
A central government is the government that is a controlling power over a unitary state. Another distinct but sovereign political entity is a federal government , which may have distinct powers at various levels of government, authorized or delegated to it by the federation and mutually agreed upon by each of the federated states .
Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially owned ...
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. [1] In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base.
Central place theory is an urban geographical theory that seeks to explain the number, size and range of market services in a commercial system or human settlements in a residential system. [1] It was introduced in 1933 to explain the spatial distribution of cities across the landscape. [ 2 ]