How different economic systems affect institutional and political arrangements and are, in turn, affected by a process of political decision-making.
Has often involved the analysis of the two rival systems: capitalism and socialism. But the notion of a pure capitalist or pure socialist system is one of illusion.

The abrupt abandonment of central planning following the Eastern European revolutions of 1989-91, and the introduction of market reforms in China and other surviving communist states. This made it appear like capitalism is the only viable basis for economic organization across the world.

But capitalism doesnt constitute just a single economic form

- Enterprise capitalism
- Social capitalism
- State capitalism