Comparative Economic Systems

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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.