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Bibframe Work

Title
Capitalism Capitalism :
Type
Text
Language
English
Illustrative Content
illustrations
Classification
LCC: HB501 .S35 2011 (Source: dlc)
DDC: 330.12/2 full (Assigner: dlc)
Identified By
Lccn: 2011938302
Summary
"Two systems of governance, capitalism and democracy, prevail in the world today. Operating in partly overlapping domains, these systems influence and transform each other, but the nature of this interaction is often misunderstood -- largely because capitalism has not been recognized as a system of governance. Rejecting the simple definition "capitalism = actions of firms in markets," Harvard's Bruce R. Scott offers instead a conception of capitalism as a three-level system akin to organized sports, in which games (markets) are conducted according to rules administered by referees (regulators), which in turn are shaped and directed by sports' governing bodies (political authorities). Tracing the evolution of capitalism from a variety of perspectives, Scott shows how governance has always been key to the system. Historically, capitalism was not a natural outgrowth of trade; it could not have emerged without political authorization for the creation of markets for land, labor, and capital. Urgently needing funds for military defense, regimes ceded some power to a new class of economic actors, spelling out their rights and responsibilities with corporate charters. The United States Constitution was anomalous in reserving to individual states the power to grant such charters, with the result that states compete to offer firms the least regulation. The Constitution also gave exceptional powers to the Supreme Court, which has interpreted the Constitution as mandating laissez-faire policies. It is impossible to adequately understand capitalism without understanding the role played by governance. This book challenges the notion of a "universal" model of capitalism, particularly one based on the US system, and illuminates the broader frameworks upon which markets depend."--Publisher's website.
Table Of Contents
The theory of capitalism. Prologue: Chestertown, Maryland, as an "English" Village
Introduction
The concept of Capitalism
Capitalism and democracy
Alternative models of capitalism
The origins and evolution of capitalism, 1400-1830. Prologue: the mystery of governance
Creating capitalism in Europe, 1400-1820
From feudalism to oligarchy in Latin America, 1500-1830
Creating capitalism and democracy in the United States 1630-1830
Political obstacles to capitalist development. Prologue: the Arizona market: a case study in "nation"-building
Italy as "one country, two systems"
The United States as "one country, two systems"
The economic strategies of capitalist systems. Prologue: economic strategies
Import substitution as an economic strategy
The Washington consensus
Neo-mercantilist or enhanced mobilization strategies
The evolution of US capitalism and democracy 1830-2009. Prologue: transformations in the governance if US capitalism 1830-1937
The transformation of US capitalism and democracy 1830-1937
The transformation of US capitalism US capitalism and democracy 1965-2009
Conclusions
Epilogue: the financial crisis of 2007-2009
Appendix: the capitalist firm in a regional environment.
Authorized Access Point
Scott, Bruce R. Capitalism