Question

A system in which the government manages parts of the economy.

Answer 1

This would be Socialism. Any of the various economic and political theories advocating collective or government ownership and the administration of all means of production and distribution of goods--would be socialism. *(Parts of the economy are government owned and operated; it's tax paid welfare.--Socialism)*

Hope that helps! n_n

Answer 2

Governmental interference in economics is a discussion not limited to a certain system culture or thought.

traditionally left wing thought argues that the economy shouldn't be handle by the "blind" forces of the market.

the socialistic philosophy argues it is best to have a supervised planned sometimes centralized economy.

But in capitalistic countries (like the US) as well governments intervene in the economy.