Capitalism in Uruguay

Santiago Acerenza and Juan José Barrios
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Juan José Barrios: Universidad ORT Uruguay. Facultad de Administración y Ciencias Sociales. Departmento de Economía

No 107, Documentos de Investigación from Universidad ORT Uruguay. Facultad de Administración y Ciencias Sociales

Abstract: Capitalism has evolved to be the dominant economic and social system. Following Feudalism, economic decisions have relied mainly on market forces and private ownership of means of production. Although Capitalism may exist even if those means of production are not privately owned, recent experiences have demonstrated that that type of Capitalism (i.e. Soviet Socialism) is not sustainable. This article examines different types of Capitalism as we know it today and focuses on one developing country, Uruguay. We examine recent Uruguayan history to gauge into the evolution of Capitalism in the country and characterize Capitalism in each period according to a well developed model.

Keywords: capitalism; underdeveloped countries; comparative economic systems; comparative politics; economic history (search for similar items in EconPapers)
JEL-codes: N16 N26 N36 N96 P10 P52 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2016-06
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