Recommendations

James E. Sawyer
Additional contact information
James E. Sawyer: Seattle University

Chapter 12 in Why Reaganomics and Keynesian Economics Failed, 1987, pp 179-184 from Palgrave Macmillan

Abstract: Abstract Once again laissez-faire has come to crisis. It no longer works appropriately because the world has changed since the eighteenth century, which then was more compatible with Adam Smith’s vision of natural law. Most aspects of capitalism still work, or can be made to work. These include the private ownership of capital, and the institution of the unregulated (or partially regulated) market for the allocation of current output and resources. But the aspect of doctrinaire capitalism which has become inoperative, specifically, is the ability of market economies to make choices affecting the future. Now the allocation of output and resources for the future must be governed through non-market collective choice.

Keywords: Real Estate; Conventional Wisdom; Power Supply System; Pure Public Good; Video Tape Recorder (search for similar items in EconPapers)
Date: 1987
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09497-4_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349094974

DOI: 10.1007/978-1-349-09497-4_12

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().