Contending Theories – Marxism, Neoclassical and Keynesianism

| August 31, 2017

Question
1) Given the similarities and differences of three contending
theories (Marxism, Neoclassical and Keynesianism) briefly analyze
the key factors that contributed the decline of economic systems
under Marxism in late 20th century in the countries of Eastern
Europe and East Asia. Give specific examples

2) In understanding the process of rapid transformation of
economic systems in many nations in the world from the
beginning of 1990s, explain why freedom to choose the right
theoretical foundations still do matter to develop an appropriate
economic system for economic growth and better income
distribution of a society.

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