System Ownership Control Description Freedom
Free market capitalism private private The individual is paramount. You keep what you earn. The market is defined by voluntary exchanges among citizens. Provides the highest degree of economic mobility. The state’s role is restricted to preventing citizens from using force or fraud against each other. Greatest
Socialism private private control under a parasitic state The state takes from producers to give to the unproductive, which allows the state to grow, gain power, and skim off the top. Some economic mobility, with the concomitant risk of successful individuals being labeled as greedy. The system is highly susceptible to fraud, and cannot be sustained without force.
Crony corporatism (sometimes: crony capitalism) private private control under a parasitic, manipulative state The state takes from producers to give to special interests. Anyone interested in succeeding must therefore curry favor with the state to be allowed to get on the money train. Force and favoritism are built into the system, which is highly susceptible to fraud and corruption.
Fascism private state Private property and private enterprise exist for the furtherance of the state. The remnants of private ownership enable the state to blame problems arising from state control on businesses and businesspeople. Force extends into non-economic sectors of society.
Communism state state The state is paramount; the individual is valued only to the extent that he contributes to the state. Virtually no economic mobility without government approval and connections within the state apparatus. The state ensures that all problems — real or invented — are blamed on individuals and individualism. Force is central to controlling every aspect of society. Least

“If you are smart and a socialist you are not honest. If you are honest and a socialist you are not smart. If you are smart and honest you are not a socialist.”