The European Journal of Comparative Economics

ISSN: 1824-2979

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EJCE Year: 2025, December. Volume: 22 - Issue: 2

Rethinking comparative economics

by Giovanni B. Ramello

Start page: 177 - End page: 190

Keywords: Comparative economics, transition, institutions, methodological approach

Jel code: K41; P00; P48

DOI: 10.25428/1824-2979/039

Abstract:

This paper reflects on the evolution and current role of what we define as comparative economics, using the experience of the European Journal of Comparative Economics as a vantage point for observing broader disciplinary changes. Originally centered on the comparison between capitalism and socialism, comparative economics has progressively shifted toward the analysis of institutional diversity, methodological pluralism, and systemic uncertainty. Following the collapse of socialism and the subsequent dominance of market-oriented paradigms, comparative analysis was often reduced to the study of transition and convergence. Recent global developments, however, have challenged this perspective, revealing persistent heterogeneity, instability, and non-linear trajectories across economic systems. The paper argues that comparative economics is today more relevant than ever, not as a field defined by specific objects of comparison, but as a methodological approach aimed at interpreting institutional complexity and contextual variation. The analysis underscores the limits of purely classificatory or efficiency-based comparisons and highlights the need for an institution-sensitive, interpretive comparative methodology to understand contemporary economic phenomena

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