Context in Society
An economic system can be considered a part of the social system and hierarchically equal to the law system, political system, cultural, etc. There is often a strong correlation between certain ideologies, political systems and certain economic systems (for example, consider the meanings of the term "communism"). Many economic systems overlap each other in various areas (for example, the term "mixed economy" can be argued to include elements from various systems). There are also various mutually exclusive hierarchical categorizations.
Read more about this topic: Economic System
Famous quotes containing the words context and/or society:
“Parents are led to believe that they must be consistent, that is, always respond to the same issue the same way. Consistency is good up to a point but your child also needs to understand context and subtlety . . . much of adult life is governed by context: what is appropriate in one setting is not appropriate in another; the way something is said may be more important than what is said. . . .”
—Stanley I. Greenspan (20th century)
“The most sensible people to be met with in society are men of business and of the world, who argue from what they see and know, instead of spinning cobweb distinctions of what things ought to be.”
—William Hazlitt (1778–1830)