Entity Types

Government

Government

A Government can either be a monarchy, oligarchy, aristocracy, republic, dictatorship, or democratic group of people that governs a community or a unit. It sets and administers public policy and exercises executive, political and sovereign power through customs, institutions, and laws within a state. The roles of the government includes preserving order, defending against external enemies, managing economic conditions, redistributing income and resources, providing collective goods, and preventing externalities. They are also responsible in establishing justice, ensuring domestic tranquility, providing common defense, promoting general welfare, and securing liberty.

Doug Casey Definition on Governments:

  • "Governments are organizations with a monopoly of force within a certain geographical area"
  • Should focus on protecting its citizens:  Army, Police & Court System
  • Society is different from government
  • Government rarely relinquish programs/power - they keep expanding until a major crisis forces reform