Private enterprise in the context of "La Reforma"

A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. Transition economies undergo a set of structural transformations intended to develop market-based institutions. These include economic liberalization, where prices are set by market forces rather than by a central planning organization. In addition to this, trade barriers are removed, there is a push to privatize state-owned enterprises and resources, state and collectively run enterprises are restructured as businesses, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital. The process has been applied in China, the former Soviet Union and Eastern bloc countries of Europe and some Third world countries, and detailed work has been undertaken on its economic and social effects.

The transition process is usually characterized by the changing and creating of institutions, particularly private enterprises; changes in the role of the state, thereby, the creation of fundamentally different governmental institutions and the promotion of private-owned enterprises, markets and independent financial institutions. In essence, one transition mode is the functional restructuring of state institutions from being a provider of growth to an enabler, with the private sector its engine. Another transition mode is change the way that economy grows and practice mode. The relationships between these two transition modes are micro and macro, partial and whole. The truly transition economics should include both the micro transition and macro transition. Due to the different initial conditions during the emerging process of the transition from planned economics to market economics, countries uses different transition model. Countries like the People's Republic of China and Vietnam adopted a gradual transition mode, however Russia and some other East-European countries, such as the former Socialist Republic of Yugoslavia, used a more aggressive and quicker paced model of transition.

Economic systems as a type of social system must confront and solve the three fundamental economic problems:

• What kinds and quantities of goods shall be produced, "how much and which of alternative goods and services shall be produced?"
• How shall goods be produced? ..by whom and with what resources (using what technology)...?"
• For whom are the goods or services produced? Who benefits? Samuelson rephrased this question as "how is the total of the national product to be distributed among different individuals and families?"

Economic systems solve these problems in several ways:"... by custom and instinct; by command and centralized control (in planned economies) and in mixed economies that "...uses both market signals and government directives to allocate goods and resources." The latter is variously defined as an economic system blending elements of a market economy with elements of a planned economy, free markets with state interventionism, or private enterprise with public enterprise..."

The 21st century is the current century in the Anno Domini or Common Era, in accordance with the Gregorian calendar. It began on 1 January 2001 (MMI), and will end on 31 December 2100 (MMC). It is the first century of the 3rd millennium.

The rise of a global economy and Third World consumerism marked the beginning of the century, along with increased private enterprise and deepening concern over terrorism after the September 11 attacks in 2001. The NATO intervention in Afghanistan and the United States-led coalition intervention in Iraq in the early 2000s, as well as the overthrow of several regimes during the Arab Spring in the early 2010s, led to mixed outcomes in the Arab world, resulting in several civil wars and political instability. The early 2020s saw an increase in wars across the world, including a major escalation of the Russo-Ukrainian war and the Gaza war. Meanwhile, the war on drugs continues, with the focus primarily on Mexico and the rest of Latin America. The United States has remained the sole global superpower, while China is now considered to be an emerging superpower.

Private spaceflight is any spaceflight development that is not conducted by a government agency, such as NASA or ESA.

During the early decades of the Space Age, the government space agencies of the Soviet Union and United States pioneered space technology in collaboration with affiliated design bureaus in the USSR and private companies in the US. They entirely funded both the development of new spaceflight technologies and the operational costs of spaceflight. Following a similar model of space technology development, the European Space Agency was formed in 1975. Arianespace, born out of ESA's independent spaceflight efforts, became the world's first commercial launch service provider in the early 1980s. Subsequently, large defense contractors began to develop and operate space launch systems, which were derived from government rockets.