Comparing Economic Systems: A Political-Economic Approach presents a political-economic approach to the analysis and comparison of different types of economic systems. Full, integrated political-economic case studies of several representative countries, including Japan, Sweden, and France, are given. This book consists of six parts and begins with an overview of some definitions of the main kinds of political and economic systems; theoretical arguments from various points of view about how political and economic systems relate to each other; and the criteria for evaluating different political-economic systems. The next section considers three essentially market capitalist systems: Japan, Sweden, and France. The Soviet Union, a centrally planned, allegedly socialist economy, is examined next. More specifically, Soviet development from 1917 to 1928 and from 1928 to the present is discussed. Central planning in developing countries such as China and Cuba is also explored. Finally, the theory of market socialism is analyzed, citing the cases of Hungary and Yugoslavia. This monograph will be of value to politicians, economists, and economic policymakers.

The second edition of an innovative undergraduate textbook in Comparative Economic Systems that goes beyond the traditional dichotomies.

Gregory and Stuart have revamped this definitive text to mirror major changes within the global economy of the 21st century. In addition to a new title, the book now features more emphasis on transition, the acceleration of globalization, present trading agreements, and recent exchange rate regimes. The authors have incorporated the latest ideas on privatization, the changing role of the state, and developments in corporate governance. The discussion of key regional clusters covers Asia, as well as Western and Eastern Europe—giving students a wide variety of case studies for comparison.

Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.

In the late 1980s, the field of comparative economics and NATO faced a similar problem: the threat of obsolescence. A predictable reaction of those who had made major investments in both comparative economics and NATO was to look for a new job. It was time to say: comparative economic systems are dead, long live comparative economic systems. The purpose of this book is to redirect study of what we called comparative economic systems toward analysis of the development of institutions and the effects of alternative institutional arrangements on economic performance. To that end, the book internalizes into a theoretical framework (1) the effects of alternative property rights on the costs of transactions and incentives structures, (2) the effects of the costs of transactions and incentives on economic behavior, and (3) the evidence for refutable implications of those effects. Analysis here focuses on the issues, propositions and conclusions that lend themselves to the only known scientific test: empirical verification. Thus, this book is not about what socialism or capitalism could have been, should have been, or should be. Nor is it an ode to capitalism. Its purpose is not to assert that capitalism is a better economic system than socialism. The history of this century and the market for institutions have done that. My purpose is to explain what is it that makes the institutions of capitalism better in terms of economic outcome than all other alternatives that have been tried since the beginning of recorded history.

Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.