Abstract
The modern theory of economic systems employs three criteria for the definition of an economic system:
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Criterion of ownership and control: who participates in the process of economic planning, decision-making, as well as controlling production, distribution and consumption?
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Criterion of information and coordination: with the help of which system of information are individual decisions coordinated?
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Criterion of motivation: what motivates economic actors in setting up and pursuing their goals?
A preliminary version was printed in: Prague Economic Papers, 2/1997, pp. 156–164.
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© 1999 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Bohata, M. (1999). The Market Economy and its Ethical Infrastructure. In: Collier, I., Roggemann, H., Scholz, O., Tomann, H. (eds) Welfare States in Transition. Studies in Economic Transition. Palgrave Macmillan, London. https://doi.org/10.1057/9780230371514_1
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DOI: https://doi.org/10.1057/9780230371514_1
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