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Capitalism vs. socialism – an attempt to analyse the competitiveness of economic systems

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  • Marian Zalesko

    (University of Bialystok)

Abstract

This article is devoted to the analysis of the competitiveness of economic systems (capitalism and socialism) in the years 1950-1989. The author assumed that competitiveness is the ability of the surveyed economies to build prosperity. Therefore, to compare the competitiveness of both socio-economic formations, the living standard of society – GDP per capita was used as a basic measure. The results of the analysis clearly indicated that capitalism (the system of the market economy) is more competitive than socialism (a system of planned economy). The study of competitiveness of economic systems requires a holistic approach and the application of research methods used in economics and economic history.

Suggested Citation

  • Marian Zalesko, 2015. "Capitalism vs. socialism – an attempt to analyse the competitiveness of economic systems," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 14(1), pages 61-79, March.
    • Handle: RePEc:cpn:umkeip:v:14:y:2015:i:1:p:61-79
    DOI: 10.12775/EiP.2015.005
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    References listed on IDEAS

    as
    1. Fagerberg, Jan & Srholec, Martin & Knell, Mark, 2007. "The Competitiveness of Nations: Why Some Countries Prosper While Others Fall Behind," World Development, Elsevier, vol. 35(10), pages 1595-1620, October.
    2. Jesús Huerta de Soto, 2010. "Socialism, Economic Calculation and Entrepreneurship," Books, Edward Elgar Publishing, number 13905.
    3. Conklin,David W., 1991. "Comparative Economic Systems," Cambridge Books, Cambridge University Press, number 9780521348898.
    4. Marcel Boumans & Matthias Klaes, 2013. "Introduction," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 1, pages 1-8, Edward Elgar Publishing.
    5. Karl Aiginger & Michael Landesmann, 2002. "Competitive Economic Performance: USA versus EU," wiiw Research Reports 291, The Vienna Institute for International Economic Studies, wiiw.
    6. Conklin,David W., 1991. "Comparative Economic Systems," Cambridge Books, Cambridge University Press, number 9780521344395.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economy; GDP per capita; standard of living; economic analysis;
    All these keywords.

    JEL classification:

    • B - Schools of Economic Thought and Methodology
    • N - Economic History
    • O - Economic Development, Innovation, Technological Change, and Growth
    • P - Political Economy and Comparative Economic Systems

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