By J. Marangos
Consistency and Viability of Capitalist financial platforms develops an unique analytical framework to appreciate the connection among the commercial, political, and ideological constructions, the exterior surroundings, and the method of reform that provide upward push to definite monetary platforms through setting up consistency.
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Additional resources for Consistency and Viability of Capitalist Economic Systems
A particularly influential factor is competition with other societies. This puts pressure on each society to maintain a high standard of living; otherwise it will be seen to be falling behind, particularly in a world of growing international awareness. This competition encourages people to move to such other societies by legal or illegal means that are conducive to achieving their goals . Thus, the survival of a society depends on its ability to introduce necessary reforms. The outdated relationships give way to the new either through a process of evolution or through command.
It was apparent that in transition economies a successful financial stabilization and structural adjustment would be inconceivable without a change in the political structure consistent with market relations. Consistency and Viability of Economic Systems ● 31 In conclusion, market capitalism based on autonomy combines private property, markets and material incentives with pluralism; centrally administered socialism based on authoritarianism combines state property, central administration and material incentives with non-pluralism; while market socialism based on authoritarianism combines labor-managed property, markets, and material incentives with nonpluralism.
It appears that, while a market system is necessary for political pluralism, it is not sufficient. ” Some countries have developed a form of political process, a hierarchically structured bureaucratic organization that gives privileges to an elite class. While the market remains the main process for decision-making, political pluralism is restricted to serve the purpose of this minority class. In these instances the political process results in a loss of personal control and encourages dependency.
Consistency and Viability of Capitalist Economic Systems by J. Marangos