This article explores the existence of economic systems. Why do many economic systems exist instead of a single, unified global market? To address this question and explain some the evidence, the article contrasts and compares two key drivers of economic development: the gains from trade and the gains from knowledge accumulation.
Why do economic systems exist?
GianPaolo Mariutti
2024-01-01
Abstract
This article explores the existence of economic systems. Why do many economic systems exist instead of a single, unified global market? To address this question and explain some the evidence, the article contrasts and compares two key drivers of economic development: the gains from trade and the gains from knowledge accumulation.
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