Abstract

http://ssrn.com/abstract=1204562
 
 

References (25)



 


 



On the Many Flavors of Capitalism or Reflections on Schumpeter's Ghost


John Henry Schlegel


SUNY Buffalo Law School

August 5, 2008

Buffalo Legal Studies Research Paper No. 2008-21

Abstract:     
Most legal scholars treat capitalism as a genus with one species. The appearance of several books that argue to the contrary suggests that it is sensible to revisit this assumption. Discussion begins by considering the constructed nature of markets, the importance of market systems, and the role of financings as the factor distinguishing capitalism from other forms of a market economy. Thereafter, four articulations of the varieties of capitalism are reviewed: the classic Marxist one, one by a political economist, another by a pair of comparative political scientists, and third by a trio of economists. This review leads to a discussion of the notions of efficiency and an "institution," as well as to Schumpeter's vision of the entrepreneur and to the place of change in economic life. An examination the way varieties of capitalism manage change leads quite directly to an exploration of socialism and its relationship to capitalism. Then piece suggests that capitalisms probably vary on far more dimensions than might be derived from the understandings reviewed and that how any specific capitalism handles economic change is both crucial to an understanding of that capitalism and an important insight into the nature of the society in which it is embedded.

Number of Pages in PDF File: 49

Keywords: Capitalism, Socialism, Markets, Market Systems, Financing, Efficiency, Institution, Schumpeter, Economic Change, Baumol, Hall & Soskice, Lindblom, Reich

working papers series


Download This Paper

Date posted: August 6, 2008  

Suggested Citation

Schlegel, John Henry, On the Many Flavors of Capitalism or Reflections on Schumpeter's Ghost (August 5, 2008). Buffalo Legal Studies Research Paper No. 2008-21. Available at SSRN: http://ssrn.com/abstract=1204562 or http://dx.doi.org/10.2139/ssrn.1204562

Contact Information

John Henry Schlegel (Contact Author)
SUNY Buffalo Law School ( email )
528 O'Brian Hall
Buffalo, NY 14260-1100
United States
716-645-2746 (Phone)
Feedback to SSRN


Paper statistics
Abstract Views: 395
Downloads: 117
Download Rank: 135,012
References:  25
Paper comments
No comments have been made on this paper

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo8 in 0.297 seconds