A New Theory of Capitalism: Key Moments and General Logic

Anatoliy Zheleznyak

Eastern European Business and Economics Journal, 2015, vol. 1, issue 1, 28-45

Abstract: A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested.

Keywords: Theory of capitalism; market; equilibrium; perfect competition; imperfect competition; monopoly; crisis; crisis-proof policy; crisis-proof behaviour. (search for similar items in EconPapers)
Date: 2015
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Working Paper: A New Theory of Capitalism: Key Moments and General Logic (2013)
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