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- W4386687249 abstract "The economic confrontation between East and West Germany is one of the key topics. Researchers have reached a consensus that the market economy of the Federal Republic of Germany (FRG) is more superior and more realistic than the planned economy in German Democratic Republic (GDR). However, the research still lacks a persuasive explanation about the deep and essential reason why market economy is better than command economy. Also, there are debates about the practical application and future extension of two economic formats. Thus, the study allocates and compares the international relations, important statistic and divergent economy systems of two Germanies, attempting to address these research gaps based on the fait accompli in GDR and FRG. The research outcomes illustrate that in all three domains did market economy in FRG overwhelmed planned economy in GDR, while the command economy also showed strength in particular areas. The outcome of the research indicates that market economy is more superiors and more functional in a macroscopic aspect than planned economy. To be specific, market economy obtains the strengths of developed productivity, a free market with countless chances, the opportunities to compete freely with high rewards and the ability of continuingly creating wealth to the society, while planned economy protects and promotes the equivalence of the distribution of social wealth. Based on it, the emergence of a highly integrated economy is forecasted, which is a combination of market economy and command economy but the main part is market economy." @default.
- W4386687249 created "2023-09-13" @default.
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- W4386687249 date "2023-09-13" @default.
- W4386687249 modified "2023-10-18" @default.
- W4386687249 title "A Comparison of Market Economy and Planned Economy: Based on German Democratic Republic and Federal Republic of Germany" @default.
- W4386687249 doi "https://doi.org/10.54254/2754-1169/17/20231103" @default.
- W4386687249 hasPublicationYear "2023" @default.
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