Economic Systems, their bonuses and how they effect migration.
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Economic Systems, their bonuses and how they effect migration.
Ever thought about the types of government and economic systems out there? Ever wondered why we have democracys, monarchys and etc? Well, then this magazine is for you! Designed to provide easy informational descriptions on the 4 different econmical systems.
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Economic Systems

Economic Systems | Economic Systems, their bonuses and how they effect migration. | Scoop.it

At it's base, the economy of a country or group of people can be classified into 4 groups. These 4 economies are: Market, Mixed, Command and Traditional. Each economy has it's own traits and bonuses, and each economy has it's own shortcomings as well. Also becuase of these traits, each country has different settlement and migrational patterns, wither it's people trying to escape or move into said country. In this magazine we'll take a closer look at the 4 economies and disgus some key differences between the 4.

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Traditional Economy | Office of The Executive

Traditional Economy | Office of The Executive | Economic Systems, their bonuses and how they effect migration. | Scoop.it

Simply put, a traditional economy is present when there is a lack of central government. In traditional economies decisions are made based on cultures and etc. Only now present in underdeveloped regions such as Africa. Naturally with out government HDI tends to be lower and most people in these economies work in subsistence farming, that is farming to live. Naturally there are a few push factors in economies like these. However lack of development and transportational as well as personal wealth, creates physical and financial barriers to emmigration.

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Canadian economy - Canada Business Network

Canadian economy - Canada Business Network | Economic Systems, their bonuses and how they effect migration. | Scoop.it

Canada is an example of a mixed economy country. There is a free market and privately owned corporations, however the central government collects taxes from buisnesses and citizens to supply certain government controlled services. Such as postal, libraries and most notably, publich health care. Naturally with public services and functions poses a powerful pull factor to all immigrants, thus contributing to the high immigration rates seen by mixed economic countries.

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Concept: Market Economy

Market economy refers to a system where the prices of goods and services are set by supply and demand. The value of information, goods and etc are controlled by companies and a deman/surplus system. Directly opposite of a command economy, a market economy gives much more freedom to it's citizens in terms of their income, class and etc. Here basically the harder you work, the smarter you are, and the luckier you are the better your life. Market economies are characterized by high GDP and HDI as well as many private owned corporations and companies. Also market economies tend to have high poverty rates. However in general with higher GDPs and HDIs, market economy countries tend to attract high numbers of immigrants escaping from usually command economy countries.

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CIA - The World Factbook - America

CIA - The World Factbook - America | Economic Systems, their bonuses and how they effect migration. | Scoop.it

One of the prime examples of a successful market economy country is America (USA). In countries like America, the central government has less power over the workings of the country, then say a mixed or command economy. Alot of services here are owned by private corporations and companies. In developed market countries, GDP and HDI tends to be relatively high, as well as the Gini-Coefficient (difference of wealth, try to keep balanced) and poverty rates. Develeoped countries such as the U.S. tend to have the highest immigration rates and the most immigrants. Due to the strong pull factors exerted by high HDI, better equality, higher wage jobs and etc.

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Types of Economies

Types of Economies | Economic Systems, their bonuses and how they effect migration. | Scoop.it

In all, these 4 economies have their own respective properties and characteristics, bonuses and set-backs. From the command economy which generally ends in low GDP and HDI to the market economies with high GDP, HDI and poverty. Each influences migration and movement in their own ways, and each poses different barriers to migration. For example certain market countries pose legal barriers, needing birth certificates. While this is negated in traditional economies, lack of developement poses physical and financial barriers.

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Communism, a command economy

Communism, a command economy | Economic Systems, their bonuses and how they effect migration. | Scoop.it

Communism is a type of government that relies on collectivization of labor and good to equal out the classes. One of the prime examples of a command economy. In communism, one person makes all the decisions, prices, manufactoring, housing and etc. In comunism every one earns the same income and reaps the same amount of rewards for their labour. And this is where the theory is flawed, a simple post carrier earns the same amount as say a doctor, and becuase of this is causes lazyness and low quality of work. In situations such as this, ruled by fear and/or unequality, creates high amounts of push factors. However, wishing to retain citizens, emmigration bans may be put into place preventing the emmigration of citizens. These bans however are often ineffective. Seen in cases of Cuban emmigrants escaping on rafts or boats.

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Nazi Germany - Dictatorship

Nazi Germany - Dictatorship | Economic Systems, their bonuses and how they effect migration. | Scoop.it

Another example of a command economy is a dictatorship, like in the case of Hitler during WWII. In command economies, GDP and HDI tends to be much lower than in market or mixed economies. This is caused becuase of lack of support from the people, or in communism's case the lack of need to work, since you'll be brining home the same income anyways. In countries like these, the state purely decides the production of goods and how much each sells for and in essence, owns everything. Countries which are still command include: North Korea and Cuba.

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A Mixed Economy: The Role of the Market

A Mixed Economy: The Role of the Market | Economic Systems, their bonuses and how they effect migration. | Scoop.it

In mixed economies the idea is to take both the benefits of a free market and a strong central government and combine them into one concept. The idea is to still have a free market but with certain government involvements to solve social and financial issues, such as setting minimal wage and maximum work hours. Along with Market economies, mixed economies boast the highest immigration rates, usually from developing and command countries such as Cuba, China and Africa.

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