What is economic system?

  • (noun): The system of production and distribution and consumption.
    Synonyms: economy

Economic System

An economic system is the combination of the various institutions, agencies, consumers, entities (or even sectors as described by some authors) that comprise the economic structure of a given society or community. It also includes how these various agencies and institutions are linked to one another, how information flows between them, and the social relations within the system (including property rights and the structure of management). A related concept is the mode of production.

Read more about Economic System.

Some articles on economic system:

Marino Murillo - Minister of Economy and Planning (2009–2011)
... was needed before implementing changes to the economic system, claiming "that false unanimity is pernicious and debate and healthy disagreement must be encouraged" ... He went on to say that with updating rather than reforming, the Cuban state economic system would remain highly centralised, although some businesses, such as barbers for ... On the updating of the economic system he stated that newly established private markets would prioritise the interest of socialism, and not those of ...
Media Systems Dependency Theory - The Macrolevel of Dependency - Media and Economic System
... The media depend on a society's economic system for 1) inculcation and reinforcement of free enterprise values, 2) establishing and maintaining linkages between producers and sellers, and 3) controlling and ... In turn, the media is dependent on a society's economic system for 1) profit from advertising revenue, 2) technological developments that reduce costs and compete effectively with ...
List of Economic Systems
... consensus.› This list attempts to sort all possible economic systems in alphabetical order, without any division or hierarchization ... Autarky Barter economy Buddhist economics Capitalism Colonialism Communism Corporatism Corporate capitalism Digital economy Distributism Dirigisme Fascist ...
... ownership of the means of production, as well as a social, political and economic ideology that aims at the establishment of this social order ... in regards to how to build the types of institutions that would replace the various economic engines (such as food distribution, education, and hospitals) as they exist under ... of the practical content of the actual economic system they may preside over ...
Luigi Pasinetti - Theoretical Contributions - A Mathematical Formulation of The Ricardian System
... Pasinetti’s first major contribution to economics was probably "the mathematical formulation of the Ricardian system", published in 1960 in a paper now considered classical ... (and pedagogically effective) analysis of the basic aspects of classical economics ... of the most masterful editorial works ever to be published in economics and scholars were wondering how Sraffa’s remarkable work could clarify and enrich the ...

Famous quotes containing the words economic system, system and/or economic:

    One set of messages of the society we live in is: Consume. Grow. Do what you want. Amuse yourselves. The very working of this economic system, which has bestowed these unprecedented liberties, most cherished in the form of physical mobility and material prosperity, depends on encouraging people to defy limits.
    Susan Sontag (b. 1933)

    Television is an excellent system when one has nothing to lose, as is the case with a nomadic and rootless country like the United States, but in Europe the affect of television is that of a bulldozer which reduces culture to the lowest possible denominator.
    Marc Fumaroli (b. 1932)

    A different world can be created or re-created—but not until we stop enshrining the economic values of invisible labor, infinite and obsessive growth, and a slow environmental suicide.
    Gloria Steinem (b. 1934)