A New Theory of Capitalism: Key Moments and General Logic

Zheleznyak, Anatoliy (2013): A New Theory of Capitalism: Key Moments and General Logic.

Abstract

A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested.

• Item Type: MPRA Paper
• Language: English
• Keywords: Theory of capitalism; capitalism; market; equilibrium (balance); disequilibrium (imbalance); perfect competition; imperfect competition; monopoly; crisis; crisis-proof policy; crisis-proof behaviour.
• Subjects: A - General Economics and Teaching > A1 - General Economics > A10 - General; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D50 - General; E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles; P - Economic Systems > P1 - Capitalist Systems > P10 - General

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