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Shortcomings of modern economic systems

Shortcomings of modern economic systems

Modern economic systems may be grouped into traditional economies, market (or capitalist economies), command (or centrally planned economies) and mixed economies. We elaborate here the shortcomings of these systems.

These very inadequacies of existing systems draw us into the sphere of ‘Benevolent economics’. Benevolence in this context is a term devised to highlight the virtues of kindness, mercy and forgiveness in economic interaction. The human factor, social justice, public interest & welfare are the missing links that we emphasize and glorify in our present series.


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