Market or Capitalist Economy: Breaking the Deadlock?

Jean Cartelier ()
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Jean Cartelier: Paris-Nanterre University, EconomiX

A chapter in 40 Years of Economics, 2025, pp 285-298 from Springer

Abstract: Abstract Market economy or capitalist economy are two commonly used expressions to characterize our economies. Some ideological prejudices may be attached to one or another label. Does it make sense to relate these denominations with two major economic theories of value? Following a neoclassical inspiration, most economists emphasize that voluntary exchange is the basic economic relation even when production is about, production being conceived as an exchange between production factors and commodities. Market economy seems to be a convenient name for such an economy. Neoricardians have a different view.

Date: 2025
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DOI: 10.1007/978-3-031-93401-8_18

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