Search results
Results from the WOW.Com Content Network
Karl Marx's three volume Capital: A Critique of Political Economy is widely regarded as one of the greatest written critiques of capitalism. [citation needed]Criticism of capitalism typically ranges from expressing disagreement with particular aspects or outcomes of capitalism to rejecting the principles of the capitalist system in its entirety. [1]
23 Things They Don't Tell You About Capitalism is a 2010 non-fiction book by economist Ha-Joon Chang. The book offers a 23-point rebuttal of aspects of neo-liberal capitalism . Summary
A few people had warned of problems, including analyst Meredith Whitney, investment advisers like Gary Shilling, Peter Schiff, and Marc Faber, and economists Stephen Roach, Robert Shiller, [35] and Nouriel Roubini, [36] and Brooksley Born, [37] but they were ignored. He asserts that the "depression is a failure of capitalism". [38]
Adam Smith. The classical school of economic thought emerged in Britain in the late 18th century. The classical political economists Adam Smith, David Ricardo, Jean-Baptiste Say and John Stuart Mill published analyses of the production, distribution and exchange of goods in a market that have since formed the basis of study for most contemporary economists.
Crony capitalism, sometimes also called simply cronyism, is a pejorative term used in political discourse to describe a situation in which businesses profit from a close relationship with state power, either through an anti-competitive regulatory environment, direct government largesse, and/or corruption. [1]
Based on this observation of problems of advanced capitalism, he further argues that there are four possible crisis tendencies in advanced capitalism: economic crisis, rationality crisis, legitimation crisis, and motivation crisis. The economic system operates with the input of work and capital, and produces the output of consumable values.
"Actually existing capitalism" or "really existing capitalism" is an ironic term used by critics of capitalism and neoliberalism.The term is used to claim that many economies purportedly practicing capitalism (an economic system characterized by a laissez-faire free-market system) actually have significant state intervention and partnerships between private industry and the state.
The economic calculation problem (ECP) is a criticism of using central economic planning as a substitute for market-based allocation of the factors of production. It was first proposed by Ludwig von Mises in his 1920 article " Economic Calculation in the Socialist Commonwealth " and later expanded upon by Friedrich Hayek .