From an email titled "Economic and Political Theory 101" distributed on the Internet.
FEUDALISM
You have two cows. Your lord takes some of the milk.
PURE SOCIALISM
You have two cows. The government takes them and puts them in a barn with everyone else's cows. You have to take care of all the cows. The government gives you as much milk as you need.
BUREAUCRATIC SOCIALISM
You have two cows. The government takes them and puts them in a barn with everyone else's cows. They are cared for by ex-chicken farmers. You have to take care of the chickens the government took from the chicken farmers. The government gives you as much milk and eggs the regulations say you should need.
FASCISM
You have two cows. The government takes both, hires you to take care of them, and sells you the milk.
PURE COMMUNISM
You have two cows. Your neighbors help you take care of them, and you all share the milk.
RUSSIAN COMMUNISM
You have two cows. You have to take care of them, but the government takes all the milk.
CAMBODIAN COMMUNISM
You have two cows. The government takes both and shoots you.
DICTATORSHIP
You have two cows. The government takes both and drafts you.
MONARCHY
You have two cows. They die of starvation because they can't eat cake.
PURE DEMOCRACY
You have two cows. Your neighbors decide who gets the milk.
REPRESENTATIVE DEMOCRACY
You have two cows. Your neighbors pick someone to tell you who gets the milk.
BUREAUCRACY
You have two cows. At first the government regulates what you can feed them and when you can milk them. Then it pays you not to milk them. Then it takes both, shoots one, milks the other and pours the milk down the drain. Then it requires you to fill out forms accounting for the missing cows.
THEOCRACY
You have two cows. They milk you and you thank God for it.
PURE ANARCHY
You have two cows. Either you sell the milk at a fair price or your neighbors try to take the cows and kill you.
LIBERTARIAN: ANARCHO-CAPITALISM
You have two cows. You sell one and buy a bull.
SURREALISM
You have two giraffes. The government requires you to take harmonica lessons.
