Consistency and Viability of Market Capitalism

John Marangos

Chapter Chapter 3 in Consistency and Viability of Capitalist Economic Systems, 2013, pp 49-76 from Palgrave Macmillan

Abstract: Abstract In analyzing market capitalism, it is useful to distinguish between the classical liberal view and the liberal interventionist view. The reason for this is while both analyze market capitalism, the evaluation of the outcomes of the system differs because of their differing ideologies. Ideology incorporates the view that one has toward social reality, toward what constitutes a good society, whether or not the outcome of the system is appropriate, and finally what means should be used to induce changes. Since we are not analyzing a country-specific economic system, we can only investigate the economic, political, and ideological elements of the market capitalist system based on the two alternative views.

Keywords: Monetary Policy; Market Capitalism; Central Bank; Market Economy; Market Failure (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-08087-5_3

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DOI: 10.1057/9781137080875_3

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