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Finance capitalism is the subordination of processes of production to the accumulation of money profits in a financial system. In their critique of capitalism, Marxism and Leninism both emphasise the role of finance capital as the determining and ruling-class interest in capitalist society, particularly in the latter stages. [147] [148]
Capitalism. Capitalism is an economic system based on the private ownership of the means of production. This is generally taken to imply the moral permissibility of profit, free trade, capital accumulation, voluntary exchange, wage labor, etc. Its emergence, evolution, and spread are the subjects of extensive research and debate.
Democratic capitalism, also referred to as market democracy, is a political and economic system that integrates resource allocation by marginal productivity (synonymous with free-market capitalism), with policies of resource allocation by social entitlement. [ 1] The policies which characterise the system are enacted by democratic governments.
The first, which sees technology as the autonomous source of economic growth and modernity, is represented mainly by the ideas of the Texas economist Clarence Ayres. The second is Max Weber's ...
Authoritarian capitalism, [1] or illiberal capitalism, [2] is an economic system in which a capitalist market economy exists alongside an authoritarian government.Related to and overlapping with state capitalism, a system in which the state undertakes commercial activity, authoritarian capitalism combines private property and the functioning of market forces with repression of dissent ...
Varieties of Capitalism: The Institutional Foundations of Comparative Advantage is a 2001 book on economics, political economy, and comparative politics edited by political economists Peter A. Hall and David Soskice. [ 1][ 2][ 3] The book established an influential debate among political economists about ways to categorize, qualify and analyze ...
Ayn Rand defined capitalism as a social system based on the recognition of individual rights, including property rights, in which all property is privately owned, and called it the unknown ideal. [ 1] Robert LeFevre, an American libertarian and primary theorist of autarchism, defined capitalism as savings and capital —in essence—as savings ...
State capitalism is an economic system in which the state undertakes business and commercial (i.e., for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor ). The definition can also include the state ...