An economic system is a mechanism (social institution) which deals with the production, distribution and consumption of goods and services in a particular society.

The economic system is composed of people, institutions and their relationships. It addresses the problems of economics, like the allocation and scarcity of resources.

The division of economic systems

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More on [ Economic system ]

NYT > Business

Threatened Strikes May Disrupt Travel in Europe
By JULIA WERDIGIER Thu, 17 Dec 2009 00:08:07 -0000
The planned 12-day strike by cabin crew personnel, over job cuts, pay and working conditions, threatens to ruin holiday travel plans for a million passengers.
Europe Drops Microsoft Antitrust Case
By KEVIN J. O’BRIEN Thu, 17 Dec 2009 03:18:53 -0000
Microsoft averted a legal battle by agreeing to give users in Europe a choice of browsers from competing companies.
F.T.C. Accuses Intel of Trying to Stifle Competition
By STEVE LOHR Thu, 17 Dec 2009 04:33:42 -0000
The Federal Trade Commission said that the chip maker Intel hindered rivals by blocking access to the market.
Asian Stocks Hold Steady and Dollar Rises
By REUTERS Thu, 17 Dec 2009 05:04:27 -0000
The dollar hit a three-month high against the euro on Thursday and Asian shares were broadly steady after the Federal Reserve voiced some optimism about a stabilizing economy.
Swiss Report First Appeals Filed in UBS Tax Case
By DAVID JOLLY Thu, 17 Dec 2009 00:08:02 -0000
Switzerland has received two appeals in the UBS tax case, a judicial official said, just weeks after 500 Americans were notified that their data was to be sent to the U.S. Justice Department.
German Budget Plan Foresees Record Borrowing
By JUDY DEMPSEY Wed, 16 Dec 2009 20:51:36 -0000
Germany's new center-right government agreed Wednesday on a spending plan that drastically ramps up borrowing, and the deficit, next year.

BBC News | Business | UK Edition

Further BA strike talks planned
Thu, 17 Dec 2009 01:44:26 -0000
Talks to try to avert Christmas strike action by British Airways cabin crew will resume on Thursday.
Airline's collapse strands 4,500
Thu, 17 Dec 2009 04:56:09 -0000
An operation begins to get 4,500 stranded holidaymakers home after Flyglobespan, Scotland's biggest airline, collapses.
Cheques to be phased out in 2018
Wed, 16 Dec 2009 16:24:00 -0000
Cheques will be phased out by October 2018, but only if adequate alternatives are found, the Payments Council says.
UK jobless rise continues to slow
Wed, 16 Dec 2009 14:47:27 -0000
The UK jobless total rises to 2.49 million, with youth unemployment now at the highest level since records began in 1992.
US interest rates remain on hold
Wed, 16 Dec 2009 22:02:50 -0000
The Federal Reserve decides to keep US interest rates on hold at between 0% and 0.25%, as widely expected.
Eurostar staff to strike over pay
Wed, 16 Dec 2009 16:52:39 -0000
Eurostar drivers and staff will go ahead with a 48-hour strike on Friday and Saturday as talks over a pay deal break down.

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