Capitalism: Its Origins and Evolution as a System of Governance / Edition 1

Capitalism: Its Origins and Evolution as a System of Governance / Edition 1

by Bruce R. Scott
     
 

ISBN-10: 146141878X

ISBN-13: 9781461418788

Pub. Date: 10/01/2011

Publisher: Springer New York

Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on indirect governance through regulated competition to coordinate actors; inevitably, these systems influence and transform each other. This book rejects the simple equation of capitalism with markets in favor of…  See more details below

Overview

Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on indirect governance through regulated competition to coordinate actors; inevitably, these systems influence and transform each other. This book rejects the simple equation of capitalism with markets in favor of a three-level system, a model which recognizes that markets are administered by regulators through institutions and governed by a political authority with the power to regulate behavior, punish transgressors, and redesign institutions. This system's emergence required the sovereign to relinquish some power in order to release the energies of economic actors. Rather than spreading through an unguided natural process like trade, capitalism emerged where competitive pressures forced political authorities to take risks in order to achieve increased revenues by permitting markets for land, labor, and capital.

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Product Details

ISBN-13:
9781461418788
Publisher:
Springer New York
Publication date:
10/01/2011
Edition description:
2011
Pages:
672
Product dimensions:
6.10(w) x 9.25(h) x 0.06(d)

Table of Contents

The Globalization of Markets and the Resilience of Capitalist Democracies: Observable Trends and Explanatory Theory: Globalization and Income Convergence.- The Political Economy of Capitalism.- Capitalism, Democracy and Inequality. Creating Capitalism, with or Without Democracy: Creating Capitalism in Europe.- Creating Capitalism and Democracy in the United States: The Symbiosis of Two Systems of Governance (1630-1830).- Creating Capitalism in Latin America. Barriers to Development in Capitalist Democracies: One Country-Two Systems: The Case of Italy- One Country - Two Systems: The United States (1878-1970).- Capitalism and Democracy in the US (1830-1930): Antagonistic Symbiosis. Catch-Up Strategies Post-World War II: Import Substitution.- Neo-Mercantilism.- The Washington Consensus. "Antagonistic Symbiosis" in a Contemporary Context: Latin American Reform and Instability.- Capitalism and Democracy in the US (1970-2006): Liberalization and Inequality.- Conclusions.- Implications.

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