Shock therapy: radical, comprehensive reform is how capitalism was built in the formerly centrally-planned economies of Central and Eastern Europe, Russia, and Central Asia according to Anders Aslund. While this statement does not quite do justice to Aslund's comprehensive effort in this volume, ...
By the 19th century, capitalism was the dominant economic system in most of the world's established nations. Soon after capitalism became the most popular economic system, it also became one of the most despised. In the next section, we'll look at why this economic principle evokes such pass...
In a market full of uncertainty, it is the entrepreneur who can actually help clear up uncertainty, as they make judgments or assume risk. To the extent that capitalism is a dynamic profit-and-loss system, entrepreneurs drive efficient discovery and consistently reveal knowledge. Established firms ...
It was a change in ethics, that is, a change in earnest talk about how to be good. The book moves from the seen-to-be, the "rhetoric" of capitalism, as I put it, to the actual. Thus the ambiguity in my subtitle, "How Capitalism Became Virtuous." Most controversially, to speak ...
Until the Great Depression, most economists clung to a vision of capitalism as a perfect or nearly perfect system. That vision wasn’t sustainable in the face of mass unemployment, but as memories of the Depression faded, economists fell back in love with the old, idealized vision of an ...
Free Markets vs. Capitalism It is important to distinguishfree marketsfromcapitalism. Capitalism is an organizational system of how goods are created—where business owners and investors (capitalists) assemble productive resources in a centralized entity, such as a company or corporation. ...
It is my contention that the thing labelled “capitalism” outlined by Schwab in his Great Reset speech above was never capitalism at all. Self-Cannibalism by Another Name Capitalism requires the creation of capital to merit the name. Under nationalist statesmen like John Quincy Adams, Abraham Lin...
While free market capitalism has delivered the greatest quality of life improvements in the history of civilization for the most people around the world, this incredible engine of innovation can be harmful if it isn't properly regulated. While it's great for people in the United States or Canad...
Economic justice strives to eliminate the inequality created bycapitalismby creating equal opportunities for all members of the economy. Proponents argue that giving everyone a chance to earn a decent, fair income is good for the economy, as putting more money in pockets leads to greater spending ...
Monetization seems to go hand-in-hand with contemporarycapitalism. The process of monetizing is very important to a business or other entity's growth as it is key to its strategic planning. Indeed, finding novel ways to turn otherwise neutral or costly business operations into profit centers is...