May 21

It is a system which consists of the elements of capitalism and socialism. In this context the mixture is treated not as an analytical one, but as a real one. In the mixed economy there is a capitalist sector and a socialist sector. Hence, analytically the mixed economy concept is closer to the dual economy version...

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Financial Turmoil in Europe

May 14

Failing to follow good practices always keeps us at risk and the same happened with European countries. According to The Financial Times, global investors have lost $6.3 trillion worth wealth in 2011 alone due to the Euro zone breakup. The European Union (EU) members signed the       Maastricht treaty in 1992,...

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Socialist Integration of the Economy

May 09

There is also a socialist approach to the integration of the economy. This is achieved by the socialisation of the means of production which would lead to the economy becoming one big farm or one big factory. In the academic discussions, there was mention of the possibility of rational calculations of costs in an...

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Poverty as Low Levels of Per Capita Income

May 07

In the immediate post-Second world war period what is now known as the poverty problem was generally known as the problem of underdevelopment, and the distinction drawn was between the rich and the poor countries of the world. In the United Nations circles and in most parts of the world, countries with a per capita...

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