In this election season, we can expect candidates to use some or many of the following terms. I decided to supply a list of definitions so that you may know what the candidates are talking about even if they do not.
Anarchy: no government.
Monarchy: government by a king/queen.
Plutocracy: government by the wealthy, usually by the wealthy for the wealthy.
Theocracy: government by a church.
Democracy: elected government responsive to its citizens.
Dictatorship: Government by one or a few.
Freedom: no coercion by government, business, unions or church.
Slavery: coercion by government, business, unions or church.
Capitalism: business system where owners of capital run businesses.
Socialism: government owns businesses.
Fascism: businesses own government. This is the system we have now on the national level and also at the state level in many states.
Mixed economy: socialism and capitalism operating side by side with one trying to dominate the other.
Some of these items are compatible and some cannot be combined. Socialism and democracy and freedom are compatible, while fascism and democracy and freedom are not.
- Are Online Dictionaries Phasing Out Their Printed Versions? (sixestate.com)