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In political philosophy, the means of production refers to the generally necessary assets and resources that enable a society to engage in production. [1] While the exact resources encompassed in the term may vary, it is widely agreed to include the classical factors of production (land, labour, and capital) as well as the general infrastructure and capital goods necessary to reproduce stable ...
If there is a start with joint ownership (where each party has veto power over the use of the asset) and move to a situation in which there is a single owner, the investment incentives of the new owner are improved while the investment incentives of the other parties remain the same; however, in the basic incomplete contracting framework, the ...
Public ownership by an entity or network of entities representing society, which may be national or municipal in scope. [37] Cooperative ownership, with the members of each individual enterprise being co-owners of their organization. [38] Common ownership, with open access for everyone in society, and where assets are indivisibly held in common.
The ownership of the means of production varies in different socialist theories. It can either be based on public ownership by a state apparatus; direct ownership by the users of the productive property through worker cooperative; or commonly owned by all of society with management and control delegated to those who operate/use the means of ...
Collective ownership is the ownership of private property by all members of a group. [ 1 ] [ 2 ] [ nb 1 ] The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm ).
Many natural resources are essential for human survival, while others are used to satisfy human desire. Conservation is the management of natural resources with the goal of sustainability. Natural resources may be further classified in different ways. [1] Resources can be categorized based on origin:
Economic analysts have argued that the economy of the Soviet Union actually represented an administrative or command economy as opposed to a planned economy because planning did not play an operational role in the allocation of resources among productive units in the economy since in actuality the main allocation mechanism was a system of ...
Organizational form: there are two basic forms of organization: actors and regulators. Economic actors include households, work gangs and production teams, firms, joint-ventures and cartels. Economically regulative organizations are represented by the state and market authorities; the latter may be private or public entities.