Alnoor Ladha defines an 'economic system' as the intricate web of social arrangements and structures through which a society organizes the production, distribution, and consumption of goods and services. He emphasizes that an economic system extends beyond mere financial transactions and market dynamics, embedding cultural, ethical, and political dimensions that reflect the collective values and power relations within that society. Ladha argues that economic systems are not monolithic but are fluid and influenced by evolving socio-economic realities and ecological constraints. This perspective underscores the importance of reimagining and restructuring economic paradigms to prioritize ecological balance, social equity, and community well-being over profit maximization and growth-centric models.

See also: neoliberal capitalism, capitalist system, post capitalism, late-stage capitalism, thought form