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Differences of three contending theories

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1) Given the similarities and differences of three contending theories (Marxism, Neoclassical and Keynesianism) briefly analyze the key factors that contributed the decline of economic systems under Marxism in late 20th century in the countries of Eastern Europe and East Asia. Give specific examples

2) In understanding the process of rapid transformation of economic systems in many nations in the world from the beginning of 1990s, explain why freedom to choose the right theoretical foundations still do matter to develop an appropriate economic system for economic growth and better income distribution of a society.

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Reference no: EM131613499

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