Rethinking comparative economics

Giovanni Ramello ()

European Journal of Comparative Economics, 2025, vol. 22, issue 2, 177 - 190

Abstract: This paper reflects on the evolution and current role of what we define as comparative economics, using the experience of the European Journal of Comparative Economics as a vantage point for observing broader disciplinary changes. Originally centered on the comparison between capitalism and socialism, comparative economics has progressively shifted toward the analysis of institutional diversity, methodological pluralism, and systemic uncertainty. Following the collapse of socialism and the subsequent dominance of market-oriented paradigms, comparative analysis was often reduced to the study of transition and convergence. Recent global developments, however, have challenged this perspective, revealing persistent heterogeneity, instability, and non-linear trajectories across economic systems. The paper argues that comparative economics is today more relevant than ever, not as a field defined by specific objects of comparison, but as a methodological approach aimed at interpreting institutional complexity and contextual variation. The analysis underscores the limits of purely classificatory or efficiency-based comparisons and highlights the need for an institution-sensitive, interpretive comparative methodology to understand contemporary economic phenomena.

Keywords: Comparative economics; Transition; Institutions; Methodological approach (search for similar items in EconPapers)
JEL-codes: K41 P00 P48 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:liu:liucej:v:22:y:2025:i:2:p:177-190

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European Journal of Comparative Economics is currently edited by Matteo Migheli, Giovanni Ramello, Koji Domon, Peter Grajzl, David M. Kemme, Alessandro Melcarne, Marcello Signorelli and Richard Watt

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