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According to Fisher, the quotation "it is easier to imagine an end to the world than an end to capitalism", attributed to both Fredric Jameson and Slavoj Žižek, encompasses the essence of capitalist realism. Capitalist realism is loosely defined as the predominant conception that capitalism is the only viable economic system, and thus there ...
Regulation of banking became thoroughgoing; after 1913, the Federal reserve system was set up to serve as a central bank, aiding and controlling member commercial banks; and since 1933 most bank deposits have been insured by the Federal Deposit Insurance Corporation or in the case of Federal saving banks, by the Federal Savings and Loan ...
She argues that capitalism was a break from a set of circumstances that had prevailed over the course of 4,000 years and thus must be interpreted as a process of historical change rather than as an inevitable extension of human nature on the lines asserted by Adam Smith. It has its roots in changes in mercantile and commercial activity chiefly ...
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For the end of economy is not the physical augmentation of goods but always the fullest possible satisfaction of human needs. Trades people contribute no less to the attainment of this end than persons who were, for a long time, and from a very one-sided point of view, exclusively called productive. ” — Carl Menger (1840 – 1921)
Indeed, a major source of objection to a free economy is precisely that it does this task so well. It gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself. ” — Milton Friedman (1912 – 2006) Capitalism and Freedom , 1962
"What we've seen in the last couple of years is that we've hit a tipping point and the global free market system is increasingly challenged by state capitalism," Bremmer says.
Though the terms "capitalism" and "socialism" are still generally used to describe the past and the future forms of society, they conceal rather than elucidate the nature of the transition through which we are passing.