The Different Types of Economic System

Abstract

the basic constituent forms cannot be precisely and systematically worked out by relying on speculative generalisations or by laying down axioms. This would only widen the gap between the historical facts and our theoretical investigation. Arbitrary model-building is a serious, though a common error. We can only make this new step in the analysis if we keep in close touch with the real economic world. We must continue to stick to the path we have been following. For the task that now faces us we must start from our previous results in the historical field and penetrate further into the structure of particular individual economic units.