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 ]

BBC News | Europe | World Edition

EU leaders seek broad bank reform
Wed, 15 Oct 2008 15:43:28 -0000
EU leaders are to discuss multi-billion-euro rescue plans for Europe's ailing banks at a two-day summit in Brussels.
Georgia-Russia talks 'collapse'
Wed, 15 Oct 2008 14:55:52 -0000
Talks between Georgia and Russia on the recent conflict over South Ossetia collapse in Geneva, Georgian officials say.
Haider 'drunk' in fatal car crash
Wed, 15 Oct 2008 14:11:46 -0000
Austrian far-right politician Joerg Haider was drunk at the time of his fatal car crash, an official from his party says.

NYT > Europe

British Prime Minister’s Stock Rises as His Bank Plan Lifts Stocks Worldwide
Wed, 15 Oct 2008 09:09:11 -0000
After devising a bank rescue plan that has now been endorsed by European and American officials, Gordon Brown is seeing a revival to his political career.
Russia and Georgia Begin Talks
Wed, 15 Oct 2008 14:24:51 -0000
Russia and Georgia began direct talks for the first time since their five-day war in August, but Russia’s negotiator arrived nearly an hour late.
Toxic Pellets Found in Russian Rights Lawyer’s Car
Wed, 15 Oct 2008 15:19:47 -0000
The lawyer was taken ill days before pre-trial hearings into the murder of one of her clients, Anna Politkovskaya.

L.A. Times - Europe

Georgia-Russia talks off to shaky start
Wed, 15 Oct 2008 08:32:00 -0700
The first high-level talks between Russia and Georgia since their war broke down today.
Stephen Harper's Conservatives prevail in Canada
Wed, 15 Oct 2008 00:00:00 -0700
The party overcomes comparisons to Bush, but fails to win a majority. Liberals' green stance doesn't win over voters. Canadians stuck with their ruling party in parliamentary elections Tuesday, as Conservative Prime Minister Stephen Harper overcame opposition attempts to tether him to "Bush-style policies" that would allow the financial crisis in the United States to spread to Canada.
World Briefing
Wed, 15 Oct 2008 00:00:00 -0700
Southeast Asia: Thailand, Cambodia trade threats / El Salvador: U.S. pledges funds for gang control / Britain: One less test for schoolchildren Thailand, Cambodia trade threats

UN News Centre - Europe

Ban urges patience, stressing that dealing with Georgia situation will take time
Wed, 15 Oct 2008 00:00:00 -0500
Secretary-General Ban Ki-moon has appealed for patience as high-level talks take place today on the situation in Georgia, stressing that it will take time to address all the various aspects of the conflict that broke out in the Caucasus country in August and resolve outstanding issues.
UN food agency teams up with European football leagues to fight hunger
Wed, 15 Oct 2008 00:00:00 -0500
The United Nations food agency partnered with the European Professional Football Leagues today to kick off a campaign aimed at raising funds and awareness of the global fight against hunger and malnutrition at a ceremony in Rome.
Ban arrives in Geneva ahead of talks on Georgia
Tue, 14 Oct 2008 00:00:00 -0500
Secretary-General Ban Ki-moon arrived in Geneva today for talks on the role of the United Nations mission in Georgia after the August conflict with Russia in the Caucasus country.

Europe - International Herald Tribune

EU powers favor changes to global financial system
By STEPHEN CASTLE Wed, 15 Oct 2008 18:33:05 -0000
Leaders of the world's economic powers said Wednesday that they favored an ambitious campaign to revamp the structures that have governed global finance for more than 60 years.
Brown's stock rises as world adopts his bank plan
By Landon Thomas Jr. Wed, 15 Oct 2008 05:30:54 -0000
After devising a bank rescue plan that has now been endorsed by European and American officials, Prime Minister Gordon Brown of Britain is seeing a revival to his political career.
Officials start to face reality
By James Saft Tue, 14 Oct 2008 11:11:04 -0000
Continued assaults on mark-to-market accounting standards and short-sellers show that many still think that suspension of disbelief is the key to fighting the financial crisis.
Russia-Georgia talks dissolve
Wed, 15 Oct 2008 18:33:05 -0000
The first high-level talks between Russia and Georgia since their war in August broke down Wednesday, but international sponsors said the negotiations had only hit a procedural snag and would resume next month.
In German-French relations, looks can be deceiving
By JUDY DEMPSEY Wed, 15 Oct 2008 18:33:05 -0000
After squabbling publicly over how to deal with the global financial crisis, Angela Merkel and Nicolas Sarkozy put aside their differences and gave the impression of friendship.
Sarkozy win over EU colleagues
By KATRIN BENNHOLD Wed, 15 Oct 2008 18:33:05 -0000
Three months after President Nicolas Sarkozy of France took over the bloc's rotating presidency, the very characteristics that made British and German officials cringe have proved effective, even essential, in forging a swift European response to major crises.

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