ENGLISH

Modern Economic Systems and Their Transformation

By J. L. Porket

Book information

Publisher
Palgrave Macmillan
Year
1998
ISBN
0312213247, 9780312213244, 0312213247
LCC
HB90 .P65 1998
Open Library ID
OL699592M
Language
english
Format
ZIP
Filesize
810 kB (829444 bytes)
Series
St. Antony's
Pages
338\0
Topic
Economy
Time added
2010-05-31 00:48:14

Description

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.

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