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Collective efficacy and social capital are central to two very successful examples of civic-based, non-monetary economies: time banks and local exchange trading systems . These work systems provide alternative forms of currency, earned through time spent in directly serving the community, e.g. working in the community garden, recycling ...
Free content, or free information, is any kind of functional work, artwork, or other creative content that meets the definition of a free cultural work. [84] A free cultural work is one which has no significant legal restriction on people's freedom: To use the content and benefit from using it, To study the content and apply what is learned,
Although laissez-faire has been commonly associated with capitalism, there is a similar laissez-faire economic theory and system associated with socialism called left-wing laissez-faire, [71] [72] or free-market anarchism, also known as free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism.
A free market does not directly require the existence of competition; however, it does require a framework that freely allows new market entrants. Hence, competition in a free market is a consequence of the conditions of a free market, including that market participants not be obstructed from following their profit motive.
This time, the privatization of public services was the main focus, although financial deregulation and free trade with foreign nations were also re-implemented. Along with an increased labour market flexibility , the unemployment rate dropped to 18.3%. [ 169 ]
According to the liberal free-market view, a secure system of private property rights is a necessary part of economic freedom. Such systems include two main rights, namely the right to control and benefit from property and the right to transfer property by voluntary means.
Stowaway passengers who avoid payment turnstiles are "free-riding" on the train. In economics, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods and common pool resources [a] do not pay for them [1] or under-pay. Free riders may overuse common pool resources by not paying for them ...
Trade networks are very old and in this picture the blue line shows the trade network of the Radhanites, c. 870 CE. Weber defines "formal rationality of economic action" to designate the extent of quantitative calculation or accounting and "substantive rationality" as the degree a group of persons is or could be adequately provided with good by ...