Kapitalismus versus Marktwirtschaft. Karl Marx und Fernand Braudel

Malte Faber and Thomas Petersen

No 645, Working Papers from University of Heidelberg, Department of Economics

Abstract: Since the beginning of the finance crisis, the notion of capitalism and the adjective capitalistic are more and more employed in public discourse without making an attempt to define it. In contrast, the concept of market economy is less used. We try in this paper to differentiate both concepts by going back to the approaches by Karl Marx (1818-1883) and Fernand Braudel (1902-1985). Marx does not use the term capitalism but only capitalistic production, while Braudel argues on the basis of a wealth of empirical evidence that one has to differentiate between capitalism and market economy, because he sees a contrast between them. For this reason, he has different view of a capitalistic economy as Marx has. JEL classification: B14, B24, P10, P16, P5

Keywords: capitalism; capitalistic production; market economy; political economy (search for similar items in EconPapers)
Date: 2018-02-14
New Economics Papers: this item is included in nep-ger, nep-his, nep-hpe and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:awi:wpaper:0645

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