ECONOMIC  Systems

Contemporary economies in real terms

Contemporary economies in real expressions

The organization of contemporary economies does not appear as a unitary system, but rather presents a diversity of situations, experiences, and national (local) practices. Depending on the degree, manner, and level of state intervention, the real role of the market, the doctrine that significantly contributes to the adoption of economic policies, etc., several concrete types of economic systems can be identified.

For this presentation, I have retained the most important ones, as follows:

a. American type (Anglo-Saxon) – the economic system, not inclined toward dirigisme and very reticent regarding the interventionist claims of the state, is orchestrated by proponents of the idea of the superiority of private enterprise and free initiative; (sheet no. 5)

b. German type (social market economy) – the economic system associates market freedom with social harmony, facilitating cooperation between the private and public sectors based on mutual commitments to meet social requirements; (sheet no. 6)

c. Japanese type (paternalistic) – the economic system privileges traditional (national) elements that contribute to the development of the spirit of initiative; (sheet no. 7)

d. Chinese type (socialist market economy) – the economic system combines autocratic political leadership and massive state presence in current activities with a functional market and increasing economic liberties; (sheet no. 8)

e. Islamic type (market theocracy) – the economic system is condescending towards the theocratic political power, complemented by initiatives that can be exploited within the framework of the free market. (sheet no. 9)