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Capitalism in America: A History is a 2018 book written by former chairman of the Federal Reserve Alan Greenspan and Adrian Wooldridge, political editor at The Economist. [note 1] The book traces the economic history of the United States since its founding and the authors argue that America's embrace of capitalism and creative destruction has given the nation's economy a superior edge.
The Pyramid of Capitalist System is a common name of a 1911 American cartoon caricature critical of capitalism, copied from a Russian flyer of c. 1901. [1] [2] The graphic focus is on stratification by social class and economic inequality. [3] [4] The work has been described as "famous", [5] "well-known and widely reproduced". [3]
Today, welfare capitalism is most often associated with the models of capitalism found in Central and Northern Europe such as the Nordic model, social market economy and Rhine capitalism. In some cases, welfare capitalism exists within a mixed economy, but welfare states can and do exist independently of policies common to mixed economies such ...
For example, The Economist, a sister publication to the Financial Times at that time, wrote: [70] Mr Giles's analysis is impressive, and one certainly hopes that further work by Mr Giles, Mr Piketty or others will clarify whether mistakes have been made, how they came to be introduced and what their effects are.
Key parameters of debate include: the extent to which capitalism is natural, versus the extent to which it arises from specific historical circumstances; whether its origins lie in towns and trade or in rural property relations; the role of class conflict; the role of the state; the extent to which capitalism is a distinctively European ...
For example, the top 10% of households by wealth boast $7 million on average and collectively hold 69% of America’s total household wealth, according to St. Louis Fed data.
Raghuram Rajan, former governor of the Reserve Bank of India, has said: "One of the greatest dangers to the growth of developing countries is the middle income trap, where crony capitalism creates oligarchies that slow down growth. If the debate during the elections is any pointer, this is a very real concern of the public in India today". [47]
Authoritarian capitalism, [1] or illiberal capitalism, [2] is an economic system in which a capitalist market economy exists alongside an authoritarian government.Related to and overlapping with state capitalism, a system in which the state undertakes commercial activity, authoritarian capitalism combines private property and the functioning of market forces with restrictions on dissent ...