Democratic capitalism vs. binary economics
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung
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Democratic capitalism vs. binary economics. / Schulte, Reinhard; Wilde, Keith.
in: Journal of Socio-Economics, Jahrgang 30, Nr. 2, 04.03.2001, S. 99-118.Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung
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RIS
TY - JOUR
T1 - Democratic capitalism vs. binary economics
AU - Schulte, Reinhard
AU - Wilde, Keith
PY - 2001/3/4
Y1 - 2001/3/4
N2 - Capitalism needs democracy as a counterweight because the capitalist system by itself shows no tendency toward equilibrium. … Financial markets are inherently unstable … George Soros, 1998Soros’ arguments in support of this thesis are compelling.1 They are an urgent reminder that maintenance of civilization requires vigilance and concerted effort. Soros fears that “political developments triggered by the financial crisis may eventually sweep away the global capitalist system itself. It has happened before.” Marx and Engels gave a very good analysis of the capitalist system 150 years ago, says Soros—“better in some ways than the equilibrium theory of classical economics.” We believe that the financial innovation created by Louis Kelso and expounded with Mortimer Adler in The Capitalist Manifesto2 (with details in The New Capitalists) may be the best available instrument for preserving the open society that is essential to a stable and democratic capitalism.
AB - Capitalism needs democracy as a counterweight because the capitalist system by itself shows no tendency toward equilibrium. … Financial markets are inherently unstable … George Soros, 1998Soros’ arguments in support of this thesis are compelling.1 They are an urgent reminder that maintenance of civilization requires vigilance and concerted effort. Soros fears that “political developments triggered by the financial crisis may eventually sweep away the global capitalist system itself. It has happened before.” Marx and Engels gave a very good analysis of the capitalist system 150 years ago, says Soros—“better in some ways than the equilibrium theory of classical economics.” We believe that the financial innovation created by Louis Kelso and expounded with Mortimer Adler in The Capitalist Manifesto2 (with details in The New Capitalists) may be the best available instrument for preserving the open society that is essential to a stable and democratic capitalism.
KW - Entrepreneurship
U2 - 10.1016/S1053-5357(00)00107-4
DO - 10.1016/S1053-5357(00)00107-4
M3 - Journal articles
VL - 30
SP - 99
EP - 118
JO - Journal of Behavioral and Experimental Economics
JF - Journal of Behavioral and Experimental Economics
SN - 2214-8043
IS - 2
ER -