Market economy vs. capitalism (On the book by Bannas S. and Herrmann-Pillath C. “Marktwirtschaft: Zu einer neuen Wirklichkeit. 30 Thesen zur Transformation unserer Wirtschaftsordnung”)

Leonid Tsedilin

Voprosy Ekonomiki, 2021, issue 11

Abstract: The authors of the book published in Germany in 2020, unlike most researchers who adhere to the established traditional views, do not consider capitalism as a kind or form of manifestation of the market economy, which, in their opinion, as an authentic form of social order, opposes capitalism. The position of the authors also differs from other reformist doctrines by the emphasis on the mental, or rather, moral requirements that must be imposed on the actors of the market economy. Environmental and ethical issues largely determine their specific proposals for the transformation of the modern Western economic system. One of the core elements of the authors’ position is the requirement of full legal responsibility in relation to all economic agents. The authors rely on almost all known developments on the topic that they propose in the 30 theses of the reform, including the latest articles and monographs. The book can definitely be recommended to Russian researchers of macroeconomics and economic policy.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2021:id:3569

DOI: 10.32609/0042-8736-2021-11-139-150

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