. Describe your vision of a model economic system - is it capitalist, socialist, or somewhere in...

Question

. Describe your vision of a model economic system - is it capitalist, socialist, or somewhere in between? In your answer be sure to compare and contrast the two major economic systems (capitalism and socialism).

200 to 250 words with references

Robert · Accepted Answer

My vision of a model economic system is a mixed economy which has aspects of both 
capitalist and socialist economy. While the developed world has hailed a capitalist economy 
where the market forces are the supreme force, but the gaps in such a system are visible for 
global financial crisis of 2007 and the Great Depression of 1929 (Yadav & Thakur, 2009). It 
is evident that the imbalances in the economy need corrective measures to be taken by 
government through limited but active regulation. However,

. Describe your vision of a model economic system - is it capitalist, socialist, or somewhere in between? In your answer be sure to compare and contrast the two major economic systems (capitalism and...

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