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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BBC News | Europe | World Edition

US rejects 'false' Russia claim
Fri, 29 Aug 2008 06:02:21 -0000
The US dismisses accusations by Russia that it helped provoke the conflict in Georgia for domestic political reasons.
Italy police probe monastery raid
Thu, 28 Aug 2008 11:16:08 -0000
Police probe a hooded gang's brutal attack on friars at a monastery in northern Italy, which left one victim in a coma.
'PM terror threat' three charged
Thu, 28 Aug 2008 18:34:27 -0000
Three men held over an alleged threat to kill UK Prime Minister Gordon Brown are charged with terror offences.

NYT > Europe

Putin Suggests U.S. Provocation in Georgia Clash
Fri, 29 Aug 2008 05:58:34 -0000
Russia’s prime minister said he thought the U.S. might have helped “stir up” the conflict to benefit one of the presidential candidates.
An Embattled Enclave Yearns to Be Free (and Liechtenstein)
Fri, 29 Aug 2008 06:07:54 -0000
Russia’s recognition of South Ossetia and Abkhazia as independent nations has filled people in the region with hope that other countries will follow.
Russia Deal May Fall, a Casualty of Conflict
Fri, 29 Aug 2008 06:24:19 -0000
The imminent collapse of a nuclear deal between the United States and Russia represents the most tangible casualty so far of deteriorating relations with Russia.

L.A. Times - Europe

Spanish town blushes with annual tomato fight
Thu, 28 Aug 2008 00:00:00 -0700
Spanish revelers have pelted each with 113 tons of ripe tomatoes in an annual food fight.
Putin suggests U.S. may have provoked Georgia conflict
Fri, 29 Aug 2008 00:00:00 -0700
Russian prime minister's assertions are dismissed by Washington as both nations' diplomats trade barbs at the U.N. China and other Central Asian nations criticize Moscow's action in Georgia. The United States and Russia on Thursday traded some of their sharpest words over the conflict in Georgia, including a suggestion by Russian Prime Minister Vladimir Putin that Washington provoked the fighting to sway the outcome of the U.S. presidential race.
'I Served the King of England'
Thu, 28 Aug 2008 00:00:00 -0700
Also reviewed: "Beautiful Losers," "Another Gay Sequel: Gays Gone Wild!" The age-old question "What is art?" is again considered in the colorful and spirited documentary "Beautiful Losers," an absorbing look at how a circle of dispossessed young artists from the 1990s eventually found its way to mainstream success.

UN News Centre - Europe

Tensions remain high in Georgia, Security Council hears
Thu, 28 Aug 2008 00:00:00 -0500
The overall situation in and around Georgia's breakaway regions of Abkhazia and South Ossetia remains tense, senior United Nations officials warned the Security Council today during a meeting on the latest developments in the Caucasus country.
In Zaragoza, UN spotlights use of nuclear technology to protect water resources
Wed, 27 Aug 2008 00:00:00 -0500
The United Nations agency tasked with promoting safe, secure and peaceful nuclear technologies will be showcasing its efforts to protect the world's water resources at a major exhibition currently being held in the Spanish city of Zaragoza.
Former staffer at UN's Balkans war crimes tribunal facing contempt charges
Wed, 27 Aug 2008 00:00:00 -0500
A former prosecution spokesperson at the United Nations war crimes tribunal set up to deal with the Balkan conflicts of the 1990s was today charged with contempt of court for allegedly disclosing confidential information relating to the case of Slobodan Milošević.

Europe - International Herald Tribune

Putin suggests U.S. role in Georgia clash
By CLIFFORD J. LEVY Fri, 29 Aug 2008 04:05:03 -0000
Russia's prime minister said he thought the U.S. might have helped "stir up" the conflict to benefit one of the presidential candidates.
Security group refuses to back Russia's actions
By David L. Stern Thu, 28 Aug 2008 23:23:23 -0000
Members of a regional security group offered little support for Moscow's military action in Georgia.
An embattled enclave yearns to be free (and Liechtenstein)
By Ellen Barry Fri, 29 Aug 2008 03:37:51 -0000
Russia's recognition of South Ossetia and Abkhazia as independent nations has filled people in the region with hope that other countries will follow.
Russia deal may fall, a casualty of conflict
By PETER BAKER Fri, 29 Aug 2008 04:05:03 -0000
The imminent collapse of a nuclear deal between the United States and Russia represents the most tangible casualty so far of deteriorating relations with Russia.
A hard habit to break, even with gas at $10 a gallon
By ELISABETH ROSENTHAL Fri, 29 Aug 2008 04:05:03 -0000
Transportation experts say that many Europeans, out of necessity, habit or love, have proved surprisingly willing to bear the extra cost of driving.
Yuri Nosenko, KGB defector, said to be dead in U.S.
By DAVID STOUT Fri, 29 Aug 2008 04:05:03 -0000
Yuri Nosenko, a former Soviet agent who was at the center of some of the most dramatic espionage episodes of the Cold War, has died under an assumed name, somewhere in the southern United States, a senior American intelligence official said.

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