It has an economic system
Socialism
The global economic crisis is not an organic thing - it is a function of economic tampering and profiteering by some very powerful economic forces. The U.S. can't fix or avoid this because it currently has an illegal banking system that is not subject to congressional oversight, headed by the Federal Reserve. This system allows something called the "military industiral complex" (President Eisenhower called it this) to create useless war and make profits from it. If the U.S. doesn't go back to Constitutional government it is in the same boat as the rest of the world and it will be unable to take a leadership position and fix this mess.
The role of the government is very limited. The literal translation from French is "let be". The government in this system strictly provides a legal system where property rights and contracts can be enforced. Past that, the government is not involved in economic activity. Transactions are free from taxes, tariffs, regulations, etc. This system has never truly existed anywhere because, obvioiusly, the existence of government to provide a legal system requires taxes of some sort to be collected. So, in practical terms, it refers to a system where the government interferes with commerce as little as possible.
popopopopop
an economic system in which the central government directs all major economic decisions
CommunismNovaNet
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.
Capitalism
Father
Runs the economic system
runs the economic system