Notes taken from S.I. Cohen's Book "World Development and Economic System" Chapter 1 INTRODUCTION · The objective of this book is to present an integrative theory of economic systems, demonstrate its applicability time wise and worldwide, and make use of its implications for policy and designs. In assessing studies of economic systems, it is necessary to distinguish between those which focus on the indepth study of (one) economic system , ISEC , and those that undertake a comparative study of (several) economic systems ( CSES ). · ISEC have commonly distinguished between three broad economic systems that are generally labelled as the traditional system, the (centrally) planned system and the (decentralized ) market system. The first major contributions on the working of the traditional system came from anthropologists. It su