Constitution Vs Economic System Essay

In this two week I learned about economic system and constitution. In the economic system there are different systems. These systems are capitalism, regulated (state) capitalism, social democracy, and socialism. Capitalism is system in the country controlling by private owners for earnings. They owned it by private individuals and not by the government. For example if you own land and you plant fruit and veggies than you sell it at the market and you keep your profits. The second system is regulated (state) capitalism “it’s the suggests that the maintenance and development of the global political economy processes are increasingly depends on the administrative rules outside the legislature and the courts”. The third system is social democracy it’s political/ economic system what the working people have enough authority on the government over the economic and they can make some program and policies without revolution. The fourth one is socialism system its mean the collective ownership of the means of production and distribution held by the society, for example public schools and healthcare.

The constitution was written in 1787, it created a new system in U.S government and still the same system we have today. The main goal of the constitution is to define the principle of the government and the right of the citizen in the U.S. In 1787 and 1788 Alexander Hamilton, John Jay, and James Madison wrote the federalist papers about the constitution in New York State and the state will decided whether or not to support the constitution. These essays explained why the state should approve the constitution. On March 4, 1789 the constitution took effect and the congress met for the