Economics, Finance and Banking

Comparative economics

Comparative Economic Systems is a small economic program that deals with comparative research of different economic organization systems, such as capitalism, socialism, feudalism and mixed economy. It is believed that it was founded by economist Calvin Bryce Hoover. The comparative economy therefore consisted mainly of analysing comparative economic systems before 1989 but radically changed its efforts to compare the economic effects of the transition experience from socialism to capitalism. It is an economic component of research to acquire knowledge related to the production, use and transfer of wealth. It is based on the needs of the group and the resources available that create the economic system in the first place. Theorists often try to explore both the positive and the negative aspects of the economic system in general and do so by making assumptions about the rules of the game that governs the search for help. It is relatively easy to predict economic outcomes when a country's economic system is fully competitive or has a complete economic planning system. With those types of economic plans, it is easy to provide policy guidance.

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