Revised Econ types:
Free Market Capitalism:
This nation has put its faith in letting the market decide, which according to the economic conditions can be a good thing or a bad thing. The government has little control over the levers of the economy, when it booms it can lead to massive revenue increases but when it goes bust the government can't do much to stop it.
- 15% bonus to IP when Economy rating is Stable or higher.
- 20% penalty to IP when Economy enters Recession or lower.
- Easier to lose Economy rating
- Economy defaults to Stable
Oligopolistic Capitalism:
A system where industry and economy are ruled by extremely wealthy private executives. These executives are often willing to work with their government, providing a superior amount of Industry at the government's beck and call. In addition, oligarchs tend to manage the economy well for their own benefit. Unfortunately, the structure of oligarch rule causes significant misery among the abused working class, resulting in large amounts of unrest.
- Oil and Luxury Nodes Produce 10 extra IP
- Public Approval defaults to Unpopular
- Easier to lose Public Approval
- Economy defaults to Prosperous
Command Economy:
In a command economy the government dictates what is produced where. There may or may not be a private industry, but the government has the final say in all cases. This gives the government access to 100% of the empire's resources, but inflicts significant costs on the economy and restricts personal freedom.
- 20% bonus to IP
- Public Approval defaults to Unpopular
- Harder to gain Public Approval
- Economy defaults to Recession
State Socialism:
State Socialism is an economic system where property is held in common by the government and goods are distributed to the masses. Socialism has problems with motivating people to produce surplus goods, so it struggles to achieve economic extravagance, but provides safeguards against economic collapse.
- Public Approval defaults to Popular
- Empire cannot achieve Collapsed or Booming Economy ratings
- Economy defaults to Stable
Syndicalism:
Rejecting both the state bureaucrat and the private executive as ultimate owner of the means of production, this nation's economy is managed by a network of trade unions or worker cooperatives. This radically direct form of popular sovereignty protects the dignity of the common laborer, but struggles to consolidate the massive productive capacity that more centralized and hierarchical systems can achieve.
- Public Approval defaults to Popular
- harder to lose and easier to gain Public Approval
- 10% penalty to IP
- harder to gain Economy rating
- Economy defaults to Stable
Mercantilism:
Mercantilism sees economics as a game of sums played by governments with strong levers, though not necessarily total control, over their markets. Empires are stronger when they support themselves and export goods, and weaker when they become reliant on foreigners. This philosophy fosters powerful engines of commerce when the sums favor the empire, insecurity and fear when they do not.
- Trade-related constructs generate 10% more IP
- Trade agreements with nations of lesser industrial power (measured by total IP revenue) are more effective
- Trade agreements with nations of greater industrial power weaken Economy rating
- Economy defaults to Stable
Mixed Economy:
This empire's economic policy is a matter of careful pragmatism and extensive compromise. A sensible mix of state, private, and popular controls ensures that the interests of all stakeholders in the economy are accounted for. However, with no side fully satisfied and no strong economic ideology to unite disparate factions, this balance is difficult to maintain. It takes only a single unwarranted concession of power to upset such a precarious equilibrium.
- Public Approval defaults to Popular
- Cannot achieve Unanimous Approval rating
- Susceptible to sudden change in Economy Type
- Economy defaults to Stable