A nation's commonly held ideas about economics determine success or failure of that society to meet its basic needs and promote a steadily increasing standard of living and quality of life in a safe and secure environment for its members. We examine and explain basic differences and similarities between the USSR-led Soviet/Communist/Socialist and the USA-led Democratic/Free Market/Capitalistic economic ideologies. Initiated by the ill-fated 1956 Hungarian Revolution against the USSR, certain new ideological concepts resulted. From the ruins of one dominating system (USSR) and another surviving successful one (USA), it was possible to create a new Universal Ideology of Economics (UIE). This UIE could be understood by anyone on this earth and educated to believe in any previously-defined political or economic ideologies and should replace all political ideologies. The Third Resource for new wealth creation, i.e., human-generated resources, which consist of technology and strategic capital, renders unnecessary all local and regional conflicts. Human-generated resources continually expand, transfer easily, and are unlimited. Resource although, at the time, we did not use that name. The continued, peaceful, unlimited development of the world depends on recognizing and using The Third Resource.

A nation's commonly held ideas about economics determine success or failure of that society to meet its basic needs and promote a steadily increasing standard of living and quality of life in a safe and secure environment for its members. We examine and explain basic differences and similarities between the USSR-led Soviet/Communist/Socialist and the USA-led Democratic/Free Market/Capitalistic economic ideologies. Initiated by the ill-fated 1956 Hungarian Revolution against the USSR, certain new ideological concepts resulted. From the ruins of one dominating system (USSR) and another surviving successful one (USA), it was possible to create a new Universal Ideology of Economics (UIE). This UIE could be understood by anyone on this earth and educated to believe in any previously-defined political or economic ideologies and should replace all political ideologies. The Third Resource for new wealth creation, i.e., human-generated resources, which consist of technology and strategic capital, renders unnecessary all local and regional conflicts. Human-generated resources continually expand, transfer easily, and are unlimited. Resource although, at the time, we did not use that name. The continued, peaceful, unlimited development of the world depends on recognizing and using The Third Resource.