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Essay / Research Paper Abstract
This is a 5 page paper that provides an overview of different economic statuses. Transitions from market driven to command economies and the virtues of each are examined. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: KW60_KFecoeth.doc
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listed below. Citation styles constantly change, and these examples may not contain the most recent updates. The Economic Continuum: Market Driven and Command Economies , 10/2010
--properly! Economics is not a static discipline, nor does the study of economics concern the study of static systems. Rather, most
economies exist in a state of rapid, ongoing flux, transitioning between different levels of control and influence from internal and external sources. For instance, most people have the conception that
the United States is a market-driven economy, but this is not strictly true because there are certain controls and regulations exerted by the United States government on how the economy
operates within that country. Likewise, some have accused China of running a command economy, but this too is a simplification that obfuscates the real truth of the matter. In short,
economics is a complex and ever-changing landscape, and things can get especially tricky whenever a regions economy begins to shift from one status to another. This paper will provide an
instructive example of how an economic situation might shift between various poles as the result of internal forces such as interference from the government, or external forces such as corruption.
To begin with, it may be instructive to take a look at the basic continuum used to evaluate economic status on the international level, a continuum which is divided
into three categories: market-driven economies, mixed economies, and command economies. A somewhat surprising example of a market driven economy is Somalia. Somalia is a country that has undergone immense civil
unrest over the last century, and as a consequence of that, has a totally decentralized and informal governmental structure; theres just very little state infrastructure remaining on which to build
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