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Which type of coordinating and institutional arrangement is best among all the economic system and why?

Which type of coordinating and institutional arrangement is best among all the economic system and why?

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Answer #1

Well, in my opinion a capitalistic economic system has been a great arrangement especially considering the institutional framework. When I refer to capitalism, I mean the modern capitalism which allows free trade and has pushed competitiveness. This on the longer run contributes to economies of scale which indicates an efficient economic system. Barring some monopolies and bureaucratic dominance, capitalistic economic system offers the most viable institutional framework which further contributes to the economic growth in the long run.

Hope this helps. Do hit the thumbs up. Cheers!

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