Business & Money | Economics

Modern Economic Systems and their Transformation

by J. Porket

2020-04-19 12:03:12

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Societies, whether traditional or modern, experience tension between spontaneity (individual freedom) and control (regulation). Consequently, economies as a subsystem of society experience it too. More specifically, they experience a tension between ... Read more
Societies, whether traditional or modern, experience tension between spontaneity (individual freedom) and control (regulation). Consequently, economies as a subsystem of society experience it too. More specifically, they experience a tension between economic individualism and economic collectivism, which in modern economies revolves around the role of the state in the economy. Since the collapse of communism, this tension has manifested itself not as a tension between market capitalism and command socialism but as a tension between the free market and the interventionist variants of market capitalism. Although currently economic and political liberalization is in evidence worldwide, not only in post-communist societies, its outcome remains uncertain. Liberal democracy in the sense of democratic politics and free-market economics has not triumphed hitherto, and also its future is far from assured. The end of history is not in sight. Less

Book Details

Publication date August 15, 1998
Languageeng
ISBN9781349266968
autor-image
J. Porket
Author
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