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- This paper defines capitalism as a system of indirect governance for economic relationships, where all markets exist within institutional frameworks that are provided by political authorities, i.e. governments.
www.hbs.edu/ris/Publication Files/07-037.pdfThe Political Economy of Capitalism - Harvard Business School
This paper defines capitalism as a system of indirect governance for economic relationships, where all markets exist within institutional frameworks that are provided by political authorities, i.e. governments.
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Dec 19, 2006 · This paper defines capitalism as a system of indirect governance for economic relationships, where all markets exist within institutional frameworks that are provided by political authorities, i.e., governments.
Capitalism, as defined in this book, is an indirect, three-level system of governance for economic relationships (i.e., economic, administrative, and political). Whereas economic markets can coordinate supply and demand within an existing system thanks to the invisible hand of the pricing mechanism, capitalism must have the administrative ...
Capitalism permits economic actors the freedom to pursue their own interests, subject to a set of rules and institutions that establish the boundaries and the incentives for that competi-
This paper defines capitalism as a system of indirect governance for economic relationships, where all markets exist within institutional frameworks that are provided by political...
Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on indirect governance through regulated competition to coordinate actors; inevitably, these systems influence and transform each other.
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My research interest is in further exploration of the analytic utility of an original conception of capitalism as an indirect, three level system of governance for the economic relationships within political entities, and mostly within nation states.