The Political Economy of Capitalism
Capitalism is often defined as an economic system where private actors are allowed to own and control the use of property in accord with their own interests, and where the invisible hand of the pricing mechanism coordinates supply and demand in markets in a way that is automatically in the best interests of society. Government, in this perspective, is often described as responsible for peace, … [ Read more ]
Content: Article | Author: Bruce R. Scott | Source: Harvard Business School (HBS) | Subject: Economics