Political and Economic Systems and Concepts

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absolutism

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Any political system where the ruler or government wields absolute power

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anarchism

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A political system that seeks to abolish the state and create a communal society

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autocracy

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A system where political power is concentrated in the hands of a single person

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capitalism

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An economic system where most companies, land and other resources are privately owned

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colonialism

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A system of claiming, settling, ruling and maintaining one or more colonies (see imperialism)

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communism

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A political-economic system with no state, minimal class differences and economic equality

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constitutional monarchy

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A political system with a monarch whose power is limited and shared with the people

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democracy

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A political system where the government or parts of it are selected by the people

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divine right

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A form of political authority where power is said to be ordained by God

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fascism

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A political system marked by authoritarian rule, nationalism, state and military power