The secret to a successful
capitalist economy is in three factors present.
This answer was only obliquely present in her work; but then, in her time, there was a generally under-developed understanding of the functioning of credit in a
capitalist economy. Today we have the advantage of a more sophisticated understanding.
What factors are behind the post-1960s decline in the dynamism in the American modern
capitalist economy? Economic institutional sources include: unnecessary and self-dealing managerial hierarchies in large companies, professional managers focused on short-termism at the expense of innovative long-term projects, and risk-averse mutual funds and large investment banks speculating in currencies and government bonds rather than evaluating companies and industries on their specific merits.
Phelps sets out to define what constitutes a "good life." Drawing on the history of philosophy, literature, and conceptions of justice, he shows that the modern
capitalist economy should be the choice for a just society, a flourishing society--a vital society--and that other choices based on the more pronounced communal values of corporatism would lead to stagnation and the undoing of what we have achieved.
We consider that the German model, or the Scandinavian one of
capitalist economy constitutes good counterexamples in this regard.
However, the second "IMA[R] Middle East Salary Survey" (November 2012) inexplicably again failed to include the most modern, thriving,
capitalist economy in the region--Israel.
The council plans to release a "Blueprint for a Clean
Capitalist Economy" during the first quarter of 2013.
A vestige of communism, Poland's out-dated road network compares poorly to Western Europe and is largely unprepared for the level of traffic generated by a growing
capitalist economy. Thanks to European Union funds, about 1,300km (807 miles) of motorways now criss-cross Poland, but this still falls short compared to the total 269,000km of paved roads.
Forbes pointed out that Taiwan has a vibrant
capitalist economy, the government is reducing its intervention in investment and trade, and large state banks and enterprises have begun to be privatized.
If ten years ago someone had raised the question of the cyclicality of the
capitalist economy, the majority of the public would have thought him mad.
"Even those sympathetic to Allende's regime admit that Chile's socialist economy was a crashing disaster; those who deplore Pinochet's rule must concede that the substantially
capitalist economy is working, and working well."
In this new series Niall Ferguson travels through this vast country to ask how a fifth of humanity can live under a Communist system of government with a
capitalist economy when according to all the laws of history it should fall apart.
