Comparative Economic Systems

Despite the dichotomy between capitalism and socialism, it has been suggested that in practice " all economics are mixed" and that "it is the proportions to which they are mixed that give each type of systems its distinguishing profile (Locks, 1965: viii). This work examines and compares the various forms of economic systems in an attempt to highlight the economic and political institutions in different countries - USA, German, French, USSR, Great Britain, China, Japan and India. The strengths and successes as well as the defects of the systems are also brought to the fore.