Variation of Capitalism Essay Example | Topics and Well Written Essays - 1750 words

Variation of Capitalism - Essay ExampleThis essay declareswith the globalization of management structures and the integration of global scotch systems, all the frugal systems in the world are supposed to follow a standardized structure, but in actuality that is not the case. There are several variations in the economic structures in the world, as well as in the practices of capitalism.According to the paper findingsthe effort of converging to a single and effective type of market economy, from the late nineteenth century has been diminished by the substantial variations among the dominant firms, practices of employment, supplier-customer relationships. As the global economy gallops to become more integrated, the societies having different institutional arrangements will eventually continue to develop and create a variation in the economic systems.The variations are on the grounds of economic and social capabilities in particular sectors and industries. As a result, a country beco mes specialized in one sector but lacks in the other. The UK economy in the late 20th century was strong in financial services and architecture on the other hand, they were weaker in construction and assembly line manufacturing.The institutional subsidiary systems which govern the capital and labour market shape the capitalist models, and when they act in a calibrated manner they reinforce all the sub systems.The comparative advantage system creates specific ways to adjust any incoming changes.