Is The Traditional Economics Used Now?

Basically most of the countries have replaced the traditional economics with the command economy, mixed economy and the market economy but still there are many countries which are still following traditional economics. These countries come in the category of the under-developed countries like South American countries, African countries and Asian countries. Some countries in the middle east also follow the traditional economics.

The countries which are currently using traditional economic system are considered as un-civilized economies and they have been following it since pre-historic times. As there are no technological advancements in such countries therefore, they are following historical trends in hunting and farming. It is not very easy to root out the traditional economics from such countries because the transformation from traditional economics to market economy requires innovation, technological advancements and various other things.