Posner, R., (2013), “Has Capitalism Revived/Survived?”, The Becker-Posner Blog, 16 Σεπτεμβρίου.
Capitalism is the economic system in which the assets used to produce goods and services are privately owned, and the owners determine the price at which to sell those goods and services. Private markets, because they organize and direct production and consumption, are the basic institutions of a capitalist system. Government regulation of markets is (in capitalist theory) limited to correcting situations in which externalities (positive or negative) distort output and therefore reduce value. Sometimes correction of the failings of free markets requires governmental proprietary rather than merely regulatory activities (the standard example is national defense), and government levies taxes to finance those activities. Taxes can also be regulatory devices (taxes on emissions of pollutants, for example) or redistributive; if they are made redistributive in order to correct an externality (for example, underinvestment in human capital of poor children), they are also consistent with the aims of a capitalist organization of the economy.
Δείτε επίσης την σχετική ανάρτηση του Gary Becker εδώ.
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- Cramme, O., Diamond, P. and McTernan, M. eds., (2013), Progressive Politics After the Crash: Governing from the Left, London: I.B. Tauris & Co Ltd.
- Cohen-Setton, J., (2013), “Ordoliberalism and Germany’s approach to the euro crisis”, Bruegel , 16 Σεπτεμβρίου.