Course Description

This class aims to understand varieties of Economic Systems. Nowadays there is actually one economic system, i.e. Capitalist Economic System. But historically speaking, there has been an alternative. In fact in the era of the Cold War, dozens of countries functioned as a Socialist Economic System. Therefore, we want to understand whether there should be an alternative to take in the current situation. We will touch upon the functioning of the Socialist Economic System and draw some lessons learned from the failure of the Socialist System. In addition, among the Capitalist Economic System, we cannot ignore the difference in many aspects, such as social securities, and labor management. Hence we will also study the varieties of Capitalist Economic System.