Which theory suggests that capitalist and socialist economies are becoming increasingly similar?

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Convergence theory suggests that capitalist and socialist economies are becoming increasingly similar over time as they adopt similar technologies, techniques, and organizational practices. This idea was popularized in the 1950s and 1960s, during the Cold War, and was seen as a way to bridge the ideological divide between the capitalist West and the communist East. Proponents of convergence theory argue that economic globalization, technological change, and changing consumer preferences are all contributing to the blurring of traditional distinctions between capitalist and socialist economic systems.

Which Theory Suggests That Capitalist and Socialist Economies Are Becoming