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Capitalism

About: Capitalism is a research topic. Over the lifetime, 27714 publications have been published within this topic receiving 858042 citations.


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TL;DR: The authors analyzes the effect of foreign direct investment (FDI) liberalization on Chinese labor politics and concludes that reform and openness in this context resulted in a strengthened Chinese state, a weakened civil society (especially labor), and a delay in political liberalization.
Abstract: One of the core assumptions of recent American foreign policy is that China's post-1978 policy of "reform and openness" will lead to political liberalization. This book challenges that assumption and the general relationship between economic liberalization and democratization. Moreover, it analyzes the effect of foreign direct investment (FDI) liberalization on Chinese labor politics. Market reforms and increased integration with the global economy have brought about unprecedented economic growth and social change in China during the last quarter of a century. Contagious Capitalism contends that FDI liberalization played several roles in the process of China's reforms. First, it placed competitive pressure on the state sector to produce more efficiently, thus necessitating new labor practices. Second, it allowed difficult and politically sensitive labor reforms to be extended to other parts of the economy. Third, it caused a reformulation of one of the key ideological debates of reforming socialism: the relative importance of public industry. China's growing integration with the global economy through FDI led to a new focus of debate--away from the public vs. private industry dichotomy and toward a nationalist concern for the fate of Chinese industry. In comparing China with other Eastern European and Asian economies, two important considerations come into play, the book argues: China's pattern of ownership diversification and China's mode of integration into the global economy. This book relates these two factors to the success of economic change without political liberalization and addresses the way FDI liberalization has affected relations between workers and the ruling Communist Party. Its conclusion: reform and openness in this context resulted in a strengthened Chinese state, a weakened civil society (especially labor), and a delay in political liberalization.

149 citations

Book
22 Sep 2015
TL;DR: Geoffrey Hodgson, this article, Conceptualizing Capitalism: Institutions, Evolution, Future (Chicago: University of Chicago Press, 2015), ISBN: 9780226168005
Abstract: Geoffrey Hodgson, Conceptualizing Capitalism: Institutions, Evolution, Future (Chicago: University of Chicago Press, 2015), ISBN: 9780226168005

149 citations

Journal ArticleDOI
TL;DR: The authors revisited this debate and found that the arguments of both groups are always rooted in an examination of supply and demand and of their "natural" or contingent aspect; secondly, their propositions always entail a separation of science (economics) from practice (management) in order to investigate the complex correspondences between the one and the other.
Abstract: How does the market economy work? On the one hand, orthodox economists have long argued that market equilibrium depends on the automatic adjustment of supply and demand; on the other hand, heterodox economists (Williamson, 1985; Arthur, 1989), but also historians (Chandler, 1977; Tedlow, 1990) and sociologists (Prus, 1989) have tried to show that supply and demand are socially constructed (Granovetter and Swedberg, 1992), that managerial practice shapes the contours of the market. Our objective in revisiting this debate is not so much to radicalize the classical opposition between the two camps but, paradoxically, to outline their common ground. Firstly, the arguments of both groups are always rooted in an examination of supply and demand and of their 'natural' or contingent aspect; secondly, their propositions always entail a separation of science (economics) from practice (management) in order to investigate the complex correspondences between the one and the other. Discussing the foundations of this endless dispute seems to be a good way to resolve it. In order to understand the market economy, one can look somewhere else, and ask other questions: does the functioning of markets rely on instances other than supply and demand? does the functioning of markets rest on processes other than those of science (economics) and/or practice (management)? In asking those questions, one discovers that, between economics and

149 citations

Journal ArticleDOI
TL;DR: This article questions each of the theses that support neoliberalism, presenting empirical information that challenges them and describes how the application of these neoliberal policies has been responsible for a substantial growth of social inequalities within the countries where such policies have been applied.
Abstract: Neoliberalism is the dominant ideology permeating the public policies of many governments in developed and developing countries and of international agencies such as the World Bank, International Monetary Fund, World Trade Organization, and many technical agencies of the United Nations, including the World Health Organization. This ideology postulates that the reduction of state interventions in economic and social activities and the deregulation of labor and financial markets, as well as of commerce and investments, have liberated the enormous potential of capitalism to create an unprecedented era of social well-being in the world's population. This article questions each of the theses that support such ideology, presenting empirical information that challenges them. The author also describes how the application of these neoliberal policies has been responsible for a substantial growth of social inequalities within the countries where such policies have been applied, as well as among countries. The major beneficiaries of these policies are the dominant classes of both the developed and the developing countries, which have established worldwide class alliances that are primarily responsible for the promotion of neoliberalism.

149 citations

Book
01 Jan 1989
TL;DR: Kirzner as mentioned in this paper argues for the Finders-Keepers role for distributive ethics in a capitalist economy, and proposes a new category of economic gain where incomes are the result of entrepreneurial alertness and discovery - the finder of any resource or product is seen to have created what he finds, not by hard work or chance, but by bringing it from invisibility to visibility.
Abstract: This book presents a new understanding of the idea of distributive justice in a capitalist economy. The author demonstrates that emphasis on the entrepreneurial role in market processes, in which products and resources are not given, but created and discovered as individuals, implies radically revised criteria of justice. He argues for the popular accepted notion of a "Finders-Keepers" role for distributive ethics. Mainstream economic and ethnical discussion of capitalism has generally taken the central issue as one of distributing a given "pie" among members of society, with incomes either earned through productivie effort or won as a result of sheer luck. Professor Kirzner's insight is to offer a new category of economic gain where incomes are the result of entrepreneurial alertness and discovery - the finder of any resource or product is seen to have created what he finds, not by hard work or chance, but by bringing it from invisibility to visibility. This leads to a fresh view of the problems of justice under capitalism, and a treatment which differs from both critics of capitalist justice, such as Rawls, and defenders like Nozick.

149 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20241
20231,685
20223,695
2021801
2020934
20191,091