I believe that is communism. If someone earns more then usual the extra money is given to someone that is poor,
Oligarchy is government by the few. Plutocracy is government by the wealthy few.
an economic system in which the central government directs all major economic decisions
CommunismNovaNet
the american government
wealthy and greedy
NO. In a traditional economic system, the government does not involve itself with transactions, primarily since the barter system makes it difficult for the government to monitor transactions.
the government enforces economic laws and regulations
the government controls the economic system through banks taxes and other ways inwhich we may not think of.
It has an economic system
ManufacturingRegulationDistribution
Socialism has no wages or only or prices, hence no economic system. It also has no classes or rulers or government.
Minimum quality of life. As a welfare function (mathematically), it would be represented as a min value function.