Politics and Economics

Politics is the activities regarding governance of institutions, people and the relationship between them. Most often used to describe a government of an country, state or community.

Economics is the use and distribution of resources among institution and people.

Politics and Economics are deeply inter-depended and interacting.

Types of Political Systems

There are various types of Political system, each one with its own benefits and downsides. Different system are fit to solve different issues. These systems are not mutually exclusive

Forms of government

Term	Definition	Benefits	Cons	Theoretically Ideal Situation
Democracy	Also known as "rule of the majority" or "the rule of the people": Is a form of government where citizens under the government has the power to directly for policies (known as direct democracy) or vote for representatives from among themselves (know as representatives democracy)	People have the choice collectively to decide whats best for them. Distribute power to the citizen preventing a tyrannical autocracy	It might result in mob mentality. Minorities don't have enough power to voice their needs and concerns It might be too slow to respond to situation requiring swift action Government rarely have the incentive or time to implement long term polices due to election cycles	In large populations with all of the people being educated Ethnically and racially diverse population
Oligarchy	Also known as "rule of few": Is a form of government where power lies within a few people. These people may be hold these power because of existing ties with nobility, military, wealth, education, religion and family ties.	Swift decision making Usually less bureaucracy Power is more distributed then a dictatorship or monarchy	Due to power being in the hands of the few ordinary citizens may get neglected There may be group infighting	Medium to large population
Autocracy	A system of governance where all of the political power is concentrated by one person or a group of people. Decision made under autocracy are not subject to external legal challenges. Absolute monarchy and dictatorships falls under the banner of autocracy.	Usually fast at responding to emergencies Government has more time to implement long term polices without worrying about pleasing the public of election too much Autocracies often cut a lot of red tape, increasing efficiency	It's very easy for an autocracy to become tyrannical Not listening to citizens may cause civil unrest or coup d'état Autocracies often ignore the needs of the common people	Small to medium population
Dictatorship	A dictatorship is an autocratic system where a single person or a group of person holds power without any checks on their power	Similar advantage as autocracies and monarchies	Similar cons as autocracy and monarchy	Same as autocracy
Monarchy	There are two major types of monarchy, Absolute monarchy which is a part of Autocracy: where the government faces no restriction on their power via any form of legal mechanism such as constitutions, legislatures, or any other checks and balances on their power. And the other form of monarchy is Constitutional monarchy where the monarchs power is limited via a formal constitution or a democratic parliament. There is various other types of monarchy. Typically in monarchy the crown is inherited by the children of the previous monarch	Have the same benefits are autocracy A lot of monarchies are partial technocracies, taking advantage of various points of views	Have many of the same issues as with autocracy Due to the crown being inherited by familial ties, it may pass down to someone incompetent Monarchies often have familial infighting and assassinations	Same as autocracy
Anarchy	Anarchy is the lack of any government. In its ideal form it relies people making good decisions without any central authority figure, but in its worse it's a lawless dystopia.	Fast decision making Needs of individuals can be met more effectively Fully distributed power	No authoritative way to resolve disputes Scales poorly	Small to medium population