 On Economic SystemsAmlan Datta Chapter Chapter XIV in Perspectives of Economic Development, 1973, pp 219-232 from Palgrave Macmillan Abstract: Abstract Some people talk of two ways to economic development, the capitalist way and the socialist way. In fact, a great variety of economic systems coexist in the world today. Britain in the nineteenth century provided the leading example of the ‘capitalist’ way of economic development and the Soviet Union in the Stalinist period was a classic case of a centrally planned economy. But other countries have followed other paths. They do not all fall into two clear-cut types. It is a largely fruitless exercise to try and force into this twofold classification countries as diverse in their economic organisation as, for instance, Japan, Mexico, the Soviet Union, Yugoslavia and the United Arab Republic. The market economy and the centrally planned economy can be discussed as ideal types. It is also useful to enquire into the historical role of capitalism. But when we talk of the contemporary world, we are not dealing simply with two economic systems and two paths to economic growth. There are, in fact, many ways, and different ways are suitable in different circumstances. Keywords: Economic System; Private Enterprise; Individual Firm; National Plan; Individual Enterprise (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-01956-4_14 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-01956-4_14 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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