Comparative Economic Systems - After 1989

After 1989

With the fall of Communism, attention shifted to problems of transition economies. With a handful of exceptions, all currently existing systems are capitalist in orientation, though the substantial economic role of the state supports the alternative view that the mixed economy has emerged as the dominant form of economic organisations.

Even in the absence of substantial differences between countries, the comparative study of economic systems of resource allocation is of considerable value in illustrating the implications of alternative methods of resource allocation, including markets, households, centralised allocation and custom.