Comparison of Communist and Capitalist Economies. Is "Shock Therapy" the Best Option during Transition?

Download or read book Comparison of Communist and Capitalist Economies. Is "Shock Therapy" the Best Option during Transition? written by Sanel Muranovic and published by GRIN Verlag. This book was released on 2016-11-07 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Economics - Other, grade: 2,00, University of Applied Sciences Vorarlberg, language: English, abstract: This paper compares and contrasts communist party and economic planning in a socialist system with the prices and the market in a capitalist economy. It discusses the successes, failures, effectiveness and flaws of each system in terms of economic and social aspects. Is shock therapy the right approach for a stable long term transition?