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Economic system   /ˌɛkənˈɑmɪk sˈɪstəm/   Listen
Economic system

noun
1.
The system of production and distribution and consumption.  Synonym: economy.






WordNet 3.0 © 2010 Princeton University








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"Economic system" Quotes from Famous Books



... of jealousy are: the primitive instinct, also present in many animals, our ethical and religious ideas and our economic system. The primitive instinct we can repress and modify; we can hardly hope to eradicate it entirely. But our ideas and economic system we can change. It is easier to change ideas than it is a system, and it is with our ideas ...
— Woman - Her Sex and Love Life • William J. Robinson

... Mr. Ditmar," Siddons gracefully conceded. "But what does it prove? Merely the cruelty of an economic system based on ruthless competition. The great majority who are unable to survive the test pay the price. And the community also pays the price, the state and nation pay it. And we have this misery on our consciences. I've no ...
— The Crossing • Winston Churchill

... believe that an economic system or industrial scheme based on the general principle of arranging a world for cogs and wheels would work. I believe in arranging the world on the principle that there are now and are going to be always enough men in it who are born, and enough who are born twice to keep cogs and wheels ...
— Crowds - A Moving-Picture of Democracy • Gerald Stanley Lee

... emphasis by the current administration. Armenia is a food importer, and its mineral deposits (copper, gold, bauxite) are small. The ongoing conflict with Azerbaijan over the ethnic Armenian-dominated region of Nagorno-Karabakh and the breakup of the centrally directed economic system of the former Soviet Union contributed to a severe economic decline in the early 1990s. By 1994, however, the Armenian Government had launched an ambitious IMF-sponsored economic program that has resulted in positive growth rates in 1995-2003. Armenia also has managed ...
— The 2003 CIA World Factbook • United States. Central Intelligence Agency

... the work of the whole world; promoting the welfare of the race, in a single century, more than had all the forces of matter and mind together in the whole previous history of the world. Newcomen laid down a foundation beneath our whole economic system, out of sight, almost, but the essential base, nevertheless, on which Watt and his successors have carried up the great superstructure which seems to us to-day so imposing; which is so tremendous in magnitude, importance, and result. If to any one man could be ...
— Scientific American Supplement, No. 803, May 23, 1891 • Various

... everywhere—in schools, in places of public accommodation, in the facilities of city life—the idea of inferior service for Negroes; and an unenlightened prison system flourished in all its hideousness. Furthermore, as a result of the vicious economic system, arose the sinister form of the Negro criminal. Here again the South begged the question, representative writers lamenting the passing of the dear dead days of slavery, and pointing cynically to the effects of freedom on the Negro. They failed to remember in ...
— A Social History of the American Negro • Benjamin Brawley

... utterly unpractical men whose services would never be worth anything at all in the work of attacking difficult mechanical problems. It is in the task of discriminating between this class and the true inventors that many industrial organizers fail. Any economic system which offers inducements to the directors of industrial enterprises to shirk the onerous, and at times very irksome, duty of sifting out the good from the bad must stand condemned not only on account of its wastefulness, ...
— Twentieth Century Inventions - A Forecast • George Sutherland

... question of taste, and that I prefer them. Anyhow, I do know a great many. People, you understand, with nothing at all that seems to make life tolerable. Destitutes, incapables, outcasts, slaves to their own lusts or to a grinding economic system or to some other cruelty of fate or men. Whatever the immediate cause of their ill-fortune may be, its underlying, fundamental cause is their own inherent faculty for failure and loss, their incompetence to take and hold the good things ...
— The Lee Shore • Rose Macaulay

... not alone to the political reconstruction of Germany or of Europe that those who take an optimistic view of the issue of the present European war look hopefully. The whole economic system of modern capitalism will have received a shock from which the beginnings of vast changes may date. Apart from this, however, the avowed aim of the war, the destruction of Prussian militarism and, indirectly, the weakening ...
— German Culture Past and Present • Ernest Belfort Bax

... economic system based both in its agrarian and mercantile aspects on masses of capital and on speculation, there arose a most fearful disproportion in the distribution of wealth. The often-used and often-abused phrase of a commonwealth ...
— The History of Rome (Volumes 1-5) • Theodor Mommsen

... we have planets with every religion known to man throughout the ages. Everything ranging from primitive animism to the most advanced philosophic ethic. We have every political system ever dreamed of, and every socio-economic system. It can all be blamed on the crack-pot manner in which we're colonizing. Any minority, no matter how small—religious, political, racial, or whatever—if it can collect the funds to buy or rent a spacecraft, can dash ...
— Ultima Thule • Dallas McCord Reynolds

... fully realized the need for culture. He was himself a cultured gentleman; but he also saw that before the people of the South could have culture, they must have an economic system directed with sufficient intelligence to supply the necessaries of life, which must always be taken for granted before the possibilities of culture are realized. Cultural education comes after, and not before, education for intelligent ...
— The New Education - A Review of Progressive Educational Movements of the Day (1915) • Scott Nearing

... expansion might have become a centrifugal force through foreign conquest and colonial holding which would have destroyed the free system it was intended to build up. The Jeffersonians were moved in later expansions by a desire to extend an economic system and to make party capital. They never sought national aggrandisement, as their opponents might have done had they been in power. Proud of the territorial growth of the Union as we now are, and seeing so clearly the wisdom of the final consummation, we forget that the domain ...
— The United States of America Part I • Ediwn Erle Sparks

... is a great question; the establishment of a political control over credit will mean a political and financial revolution. For it will establish the power of the government over our whole economic system and will lead rapidly to a common political and economic organization of all classes of capitalists for the control of the government, to a compromise between the group of capitalists that now rules the business world and that far larger group ...
— Socialism As It Is - A Survey of The World-Wide Revolutionary Movement • William English Walling



Words linked to "Economic system" :   scheme, state socialism, economy, system, non-market economy, industrialism, free enterprise, sector, private enterprise, state capitalism, market economy, black economy, mixed economy, laissez-faire economy



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