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The phrase "economic system" is correct and usable in written English
You can use it when referring to a particular system or set of laws that a country or other entity uses to manage their economy. For example, "The economic system of the United States is based on capitalism."
Exact(59)
The anger at a rigged economic system.
But bring war on our economic system?
"Deregulation within the economic system, austerity," the student fires back.
Walmart is the embodiment of our broken economic system.
All countries are drawn into the world economic system.
"They already exist in a hybrid economic system," he says.
This information in itself won't change an entire economic system.
The current capitalist economic system is in continual crisis.
"They destroyed an economic system that worked," Patsalides said.
membership because China's closed economic system reinforces their political control.
We need a new economic system to safeguard the citizens".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com