Comparative Economic Systems

The sub-discipline of economics known as Comparative Economic Systems is concerned with the comparative study of various systemic approaches to economic organization. These approaches include capitalism, socialism, feudalism, and the mixed economy, among others. It is generally accepted that the economist Calvin Bryce Hoover was the one who initiated the establishment. Prior to 1989, comparative economics was primarily concerned with the analysis of comparative economic systems. However, after that year, the field shifted its focus to a significant degree toward the comparison of the economic repercussions of the transition experience from socialism to capitalism. The field of economics, which is the study of acquiring knowledge concerning the production, consumption, and transfer of wealth, includes this discipline as one of its subfields. The economic system is originally established on the basis of the collective desires of the population as well as the resources that are accessible. The gross domestic product (GDP) is a metric that can be used to evaluate the performance of the economic system; more specifically, it would provide an indication of the growth rate of the country. It is also possible to arrive at normative judgments by asking questions such as whether or not there is a disparity in the distribution of wealth and income and whether or not there is social fairness. On a regular basis, theorists attempt to analyze both the positive and normative features of the economic system in general. In order to accomplish this, they make assumptions about the rules of the game that regulate utility-seeking. When the economic system of a country is either a perfect planning economic system or a perfect competition economic system, it is relatively straightforward to forecast the outcomes of the government's economic system. Being able to provide policy direction is not difficult when dealing with economic systems of that kind.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Comparative economic systems

Chapter 2: Capitalism

Chapter 3: Free market

Chapter 4: Anti-capitalism

Chapter 5: Market economy

Chapter 6: Mixed economy

Chapter 7: Democratic capitalism

Chapter 8: Economic system

Chapter 9: Criticism of socialism

Chapter 10: Criticism of capitalism

Chapter 11: Lange model

Chapter 12: Economic planning

Chapter 13: Economic ideology

Chapter 14: Calvin B. Hoover

Chapter 15: Redistribution of income and wealth

Chapter 16: Social dividend

Chapter 17: Production for use

Chapter 18: Social ownership

Chapter 19: Socialist economics

Chapter 20: Contract theory

Chapter 21: Authoritarian capitalism

(II) Answering the public top questions about comparative economic systems.

(III) Real world examples for the usage of comparative economic systems in many fields.

(IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of comparative economic systems. (eBook only).

Who will benefit

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of comparative economic systems.